Okla. Stat. tit. 36, § 36-309.2

of examinations.

A. The Insurance Commissioner or an examiner may conduct an

examination, including a financial and market conduct examination,

under Sections 309.1 through 309.7 of this title of any company as

often as the Commissioner deems appropriate but shall at a minimum,

conduct a financial examination of every domestic insurer licensed

in this state not less frequently than once every five (5) years.

The Commissioner shall, at a minimum, conduct or cause to be

conducted a financial examination of every foreign insurer licensed

in this state not less frequently than once every five (5) years.

The Commissioner may accept examinations conducted by other states

on foreign insurers domiciled in such states pursuant to subsection

D of this section. In scheduling and determining the nature, scope

and frequency of the examinations, the Commissioner shall consider

such matters as the results of financial statement analyses and

ratios, changes in management or ownership, actuarial opinions,

reports of independent certified financial examiners or public

accountants and other criteria as set forth in the Examiners'

Handbook adopted by the National Association of Insurance

Commissioners and in effect when the Commissioner exercises

discretion under this subsection. The Commissioner may also make

examinations upon the request of one or more persons pecuniarily

interested therein, who shall make affidavit of their belief, with

specifications of their reasons therefor, that the company is in an

unsound condition.

B. The Commissioner may adopt rules setting forth criteria and

informing domestic insurers of those factors which may contribute to

the Commissioner requiring the financial examination of an insurer

prior to the end of the five-year-examination requirement provided

in subsection A of this section.

C. For purposes of completing an examination of any company

under Sections 309.1 through 309.7 of this title, the Commissioner

may examine or investigate any person, or the business of any

person, insofar as such examination or investigation is, in the sole

discretion of the Commissioner, necessary or material to the

examination of the company.

D. In lieu of an examination under Sections 309.1 through 309.7

of this title of any foreign or alien insurer licensed in this

state, the Commissioner may accept an examination report on such

company as prepared by the insurance department for the company's

state of domicile or port-of-entry state if:

1. The insurance department was at the time of the examination

accredited under the National Association of Insurance

Oklahoma Statutes - Title 36. Insurance Page 63

Commissioners' Financial Regulation Standards and Accreditation

Program; or

2. The examination is performed with the participation of one

or more examiners who are employed by an accredited state insurance

department and who, after a review of the examination work papers

and report, state under oath that the examination was performed in a

manner consistent with the standards and procedures required by

their insurance department.

E. The Commissioner may authorize any employee of the Insurance

Department to exercise the Commissioner's authority under Sections

309.1 through 309.7 of this title.