Okla. Stat. tit. 36, § 36-2516
This is the official text of Okla. Stat. tit. 36, § 36-2516, 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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Foreign and alien companies
Official statutory text
No corporation, company, association or society organized under
the laws of any other state or territory of the United States, or
the District of Columbia, or foreign country shall transact business
under the provisions of this article until it has received from the
Insurance Commissioner a certificate of authority to do business in
this state, a duplicate of which shall be filed in his office. The
Insurance Commissioner shall annually issue to such foreign
corporation, company or association renewal certificates of
authority to continue business, if it shall have fully complied with
the provisions of this article, and if the Insurance Commissioner
shall be of the opinion that any such corporation, company or
association is not entitled to a renewal of a certificate of
authority, he shall cite the same to appear, giving reasons
Oklahoma Statutes - Title 36. Insurance Page 681
therefor, and to show cause why the certificate of authority should
be renewed, and unless the certificate of authority shall be renewed
within thirty days after such hearing, such foreign corporation,
company or association shall cease to do business in this state. No
foreign corporation, company, association or society shall be
authorized to transact any business authorized by this article
within this state, unless it can furnish evidence satisfactory to
the Insurance Commissioner that it has a reserve or emergency fund
equal in amount to that required by this article, and the same is
held for the benefit of policyholders only, and invested as required
by the insurance laws of its home state.
the laws of any other state or territory of the United States, or
the District of Columbia, or foreign country shall transact business
under the provisions of this article until it has received from the
Insurance Commissioner a certificate of authority to do business in
this state, a duplicate of which shall be filed in his office. The
Insurance Commissioner shall annually issue to such foreign
corporation, company or association renewal certificates of
authority to continue business, if it shall have fully complied with
the provisions of this article, and if the Insurance Commissioner
shall be of the opinion that any such corporation, company or
association is not entitled to a renewal of a certificate of
authority, he shall cite the same to appear, giving reasons
Oklahoma Statutes - Title 36. Insurance Page 681
therefor, and to show cause why the certificate of authority should
be renewed, and unless the certificate of authority shall be renewed
within thirty days after such hearing, such foreign corporation,
company or association shall cease to do business in this state. No
foreign corporation, company, association or society shall be
authorized to transact any business authorized by this article
within this state, unless it can furnish evidence satisfactory to
the Insurance Commissioner that it has a reserve or emergency fund
equal in amount to that required by this article, and the same is
held for the benefit of policyholders only, and invested as required
by the insurance laws of its home state.
Status: in_force · Read it on the official government site
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