Okla. Stat. tit. 36, § 36-2132
This is the official text of Okla. Stat. tit. 36, § 36-2132, 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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Reinsurance, stock insurers
Official statutory text
A. A domestic stock insurer may accept reinsurance for the same
kind of insurance and within the same limits as it is authorized to
transact direct, unless such reinsurance is prohibited by its
articles of incorporation.
Oklahoma Statutes - Title 36. Insurance Page 654
B. A domestic stock insurer may reinsure all or substantially
all its business in force, or substantially all of a major class
thereof, with another insurer by an agreement of bulk reinsurance;
but no such agreement shall become effective unless filed with and
approved in writing by the Commissioner.
C. The Commissioner shall approve such agreement within a
reasonable time after such filing unless the Commissioner finds that
the agreement would substantially reduce the protection or service
to the policyholders of the insurer. If the Commissioner does not
approve the agreement, he shall so notify the insurer in writing
specifying his reasons therefor.
kind of insurance and within the same limits as it is authorized to
transact direct, unless such reinsurance is prohibited by its
articles of incorporation.
Oklahoma Statutes - Title 36. Insurance Page 654
B. A domestic stock insurer may reinsure all or substantially
all its business in force, or substantially all of a major class
thereof, with another insurer by an agreement of bulk reinsurance;
but no such agreement shall become effective unless filed with and
approved in writing by the Commissioner.
C. The Commissioner shall approve such agreement within a
reasonable time after such filing unless the Commissioner finds that
the agreement would substantially reduce the protection or service
to the policyholders of the insurer. If the Commissioner does not
approve the agreement, he shall so notify the insurer in writing
specifying his reasons therefor.
Status: in_force · Read it on the official government site
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