Okla. Stat. tit. 36, § 36-1910
This is the official text of Okla. Stat. tit. 36, § 36-1910, 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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Order of rehabilitation; termination
Official statutory text
A. An order to rehabilitate a domestic insurer shall direct the
Insurance Commissioner forthwith to take possession of the property
of the insurer and to conduct the business thereof, and to take such
steps toward removal of the causes and conditions which have made
rehabilitation necessary as the court may direct.
B. If at any time the Insurance Commissioner deems that further
efforts to rehabilitate the insurer would be useless, he may apply
to the court for an order of liquidation.
C. The Insurance Commissioner, or any interested person upon
due notice to the Insurance Commissioner, at any time may apply to
the court for an order terminating the rehabilitation proceedings
and permitting the insurer to resume possession of its property and
the conduct of its business, but no such order shall be granted
except when, after a full hearing, the court has determined that the
purposes of the proceeding have been fully accomplished.
Insurance Commissioner forthwith to take possession of the property
of the insurer and to conduct the business thereof, and to take such
steps toward removal of the causes and conditions which have made
rehabilitation necessary as the court may direct.
B. If at any time the Insurance Commissioner deems that further
efforts to rehabilitate the insurer would be useless, he may apply
to the court for an order of liquidation.
C. The Insurance Commissioner, or any interested person upon
due notice to the Insurance Commissioner, at any time may apply to
the court for an order terminating the rehabilitation proceedings
and permitting the insurer to resume possession of its property and
the conduct of its business, but no such order shall be granted
except when, after a full hearing, the court has determined that the
purposes of the proceeding have been fully accomplished.
Status: in_force · Read it on the official government site
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