Okla. Stat. tit. 36, § 36-1906
This is the official text of Okla. Stat. tit. 36, § 36-1906, 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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Grounds for liquidation
Official statutory text
The Insurance Commissioner may apply to the court for an order
appointing the Commissioner as receiver (if the appointment of the
Commissioner as receiver shall not be then in effect) and directing
the Commissioner to liquidate the business of a domestic insurer,
foreign or of the United States branch of an alien insurer having
trusteed assets in this State, regardless of whether or not there
Oklahoma Statutes - Title 36. Insurance Page 535
has been a prior order directing the Commissioner to rehabilitate
such insurer, upon any grounds specified in Section 1905 of this
title, or if such insurer:
1. Has ceased transacting business for a period of one (1)
year, or
2. Is an insolvent insurer and has commenced voluntary
liquidation or dissolution, or attempts to commence or prosecute any
action or proceeding to liquidate its business or affairs, or to
dissolve its corporate charter, or to procure the appointment of a
receiver, trustee, custodian, or sequestrator under any law except
this Code.
3. Has failed, if a domestic insurer, to obtain from the
Insurance Commissioner a certificate of authority to transact a
business of insurance in Oklahoma for one of the immediately
preceding five (5) years.
appointing the Commissioner as receiver (if the appointment of the
Commissioner as receiver shall not be then in effect) and directing
the Commissioner to liquidate the business of a domestic insurer,
foreign or of the United States branch of an alien insurer having
trusteed assets in this State, regardless of whether or not there
Oklahoma Statutes - Title 36. Insurance Page 535
has been a prior order directing the Commissioner to rehabilitate
such insurer, upon any grounds specified in Section 1905 of this
title, or if such insurer:
1. Has ceased transacting business for a period of one (1)
year, or
2. Is an insolvent insurer and has commenced voluntary
liquidation or dissolution, or attempts to commence or prosecute any
action or proceeding to liquidate its business or affairs, or to
dissolve its corporate charter, or to procure the appointment of a
receiver, trustee, custodian, or sequestrator under any law except
this Code.
3. Has failed, if a domestic insurer, to obtain from the
Insurance Commissioner a certificate of authority to transact a
business of insurance in Oklahoma for one of the immediately
preceding five (5) years.
Status: in_force · Read it on the official government site
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