Okla. Stat. tit. 36, § 36-1936
This is the official text of Okla. Stat. tit. 36, § 36-1936, 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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Restrictions on insurers subject to delinquency
Official statutory text
proceedings.
No insurer that is subject to any delinquency proceeding,
whether formal or informal, administrative or judicial, shall:
1. be released from such proceeding, unless such proceeding is
converted into a judicial rehabilitation or liquidation proceeding;
2. be permitted to solicit or accept new business or request or
accept the restoration of any suspended or revoked license or
certificate of authority;
3. be returned to the control of its shareholders or private
management; or
4. have any of its assets returned to the control of its
shareholders or private management;
until all payments of or on account of the insurer's contractual
obligations by all guaranty associations, along with all expenses
thereof and interest on all such payments and expenses, shall have
been repaid to the guaranty associations or a plan of repayment by
the insurer shall have been approved by the guaranty associations.
No insurer that is subject to any delinquency proceeding,
whether formal or informal, administrative or judicial, shall:
1. be released from such proceeding, unless such proceeding is
converted into a judicial rehabilitation or liquidation proceeding;
2. be permitted to solicit or accept new business or request or
accept the restoration of any suspended or revoked license or
certificate of authority;
3. be returned to the control of its shareholders or private
management; or
4. have any of its assets returned to the control of its
shareholders or private management;
until all payments of or on account of the insurer's contractual
obligations by all guaranty associations, along with all expenses
thereof and interest on all such payments and expenses, shall have
been repaid to the guaranty associations or a plan of repayment by
the insurer shall have been approved by the guaranty associations.
Status: in_force · Read it on the official government site
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