Okla. Stat. tit. 36, § 36-1534
This is the official text of Okla. Stat. tit. 36, § 36-1534, part of Oklahoma’s Stat. tit. 36, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 36,." Browse the sections below, each linked to its official government source.
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Purpose of act
Official statutory text
A. The purpose of this act is to:
1. Provide the Commissioner of the Oklahoma Insurance
Department a summary of an insurer or insurance group's corporate
governance structure, policies and practices to permit the
Commissioner to gain and maintain an understanding of the insurer's
corporate governance framework;
2. Outline the requirements for completing a Corporate
Governance Annual Disclosure (CGAD) with the Commissioner; and
3. Provide for the confidential treatment of the CGAD and
related information that will contain confidential and sensitive
information related to an insurer or insurance group's internal
operations and proprietary and trade secret information which, if
made public, could potentially cause the insurer or insurance group
competitive harm or disadvantage.
B. Nothing in this act shall be construed to prescribe or
impose corporate governance standards and internal procedures beyond
those which are required under applicable state corporate law.
Notwithstanding the foregoing, nothing in this act shall be
construed to limit the Commissioner's authority or the rights or
obligations of third parties under Sections 309.1 through 309.7 of
Title 36 of the Oklahoma Statutes.
C. The requirements of this act shall apply to all insurers
domiciled in this state.
1. Provide the Commissioner of the Oklahoma Insurance
Department a summary of an insurer or insurance group's corporate
governance structure, policies and practices to permit the
Commissioner to gain and maintain an understanding of the insurer's
corporate governance framework;
2. Outline the requirements for completing a Corporate
Governance Annual Disclosure (CGAD) with the Commissioner; and
3. Provide for the confidential treatment of the CGAD and
related information that will contain confidential and sensitive
information related to an insurer or insurance group's internal
operations and proprietary and trade secret information which, if
made public, could potentially cause the insurer or insurance group
competitive harm or disadvantage.
B. Nothing in this act shall be construed to prescribe or
impose corporate governance standards and internal procedures beyond
those which are required under applicable state corporate law.
Notwithstanding the foregoing, nothing in this act shall be
construed to limit the Commissioner's authority or the rights or
obligations of third parties under Sections 309.1 through 309.7 of
Title 36 of the Oklahoma Statutes.
C. The requirements of this act shall apply to all insurers
domiciled in this state.
Status: in_force · Read it on the official government site
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