Okla. Stat. tit. 36, § 36-1803
This is the official text of Okla. Stat. tit. 36, § 36-1803, 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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Duties of Commissioner
Official statutory text
A. The Insurance Commissioner shall, if there is substantial
reason to believe that any insurer is insolvent, or if any insurer's
condition is such as to render the continuance of its business
hazardous to the public or to holders of its policies or
certificates of insurance, or it has exceeded its powers, or it has
failed to comply with the law, or if such insurer gives its consent:
1. Notify the insurer of the Commissioner's determination;
2. Furnish the insurer a written list of requirements to abate
the Commissioner's determination; and
3. If the Commissioner makes a further determination to
supervise, notify the insurer that it is under supervision pursuant
to this article.
B. Such insurer shall comply with the lawful requirements of
the Commissioner and, if placed under supervision, shall have ninety
(90) days from the date of notice within which to comply with the
requirements of the Commissioner unless the Commissioner designates
a lesser or greater period of time or unless the Commissioner
determines at any time during or after the ninety-day period of time
that judicial or administrative proceedings should be initiated to
place such insurer in conservation, rehabilitation or liquidation
proceedings or other delinquency proceedings, pursuant to Articles
18 and 19 of this title. If such insurer does not comply with such
requirements, such supervision may continue until such requirements
are remedied or until the Commissioner approves or completes pursuit
of additional options as provided in the Insurance Code.
reason to believe that any insurer is insolvent, or if any insurer's
condition is such as to render the continuance of its business
hazardous to the public or to holders of its policies or
certificates of insurance, or it has exceeded its powers, or it has
failed to comply with the law, or if such insurer gives its consent:
1. Notify the insurer of the Commissioner's determination;
2. Furnish the insurer a written list of requirements to abate
the Commissioner's determination; and
3. If the Commissioner makes a further determination to
supervise, notify the insurer that it is under supervision pursuant
to this article.
B. Such insurer shall comply with the lawful requirements of
the Commissioner and, if placed under supervision, shall have ninety
(90) days from the date of notice within which to comply with the
requirements of the Commissioner unless the Commissioner designates
a lesser or greater period of time or unless the Commissioner
determines at any time during or after the ninety-day period of time
that judicial or administrative proceedings should be initiated to
place such insurer in conservation, rehabilitation or liquidation
proceedings or other delinquency proceedings, pursuant to Articles
18 and 19 of this title. If such insurer does not comply with such
requirements, such supervision may continue until such requirements
are remedied or until the Commissioner approves or completes pursuit
of additional options as provided in the Insurance Code.
Status: in_force · Read it on the official government site
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