Okla. Stat. tit. 36, § 36-309.4

Investigatory hearing - Disclosure.

A. All examination reports shall be comprised of only facts

appearing upon the books, records, or other documents of the

company, its agents or other persons examined, or as ascertained

from the testimony of its officers or agents or other persons

examined concerning its affairs, and such conclusions and

recommendations as the examiners find reasonably warranted from such

facts.

B. No later than thirty (30) days following completion of the

examination, the examiner in charge shall file with the Insurance

Department a verified written report of examination under oath.

Upon receipt of the verified report, the Department shall transmit

the report to the company examined, together with a notice which

shall afford such company examined a reasonable opportunity of not

more than twenty (20) days to make a written submission or written

rebuttal with respect to any matters contained in the examination

report.

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C. Within twenty (20) days of the end of the period allowed for

the receipt of written submissions or written rebuttals, the

Insurance Commissioner shall fully consider and review the report,

together with any written submissions or written rebuttals and any

relevant portions of the examiners' work papers and enter an order:

1. Adopting the examination report as filed or with

modification or corrections. If the examination report reveals that

the company is operating in violation of any law, regulation or

prior order of the Commissioner, the Commissioner may order the

company to take any action the Commissioner considers necessary and

appropriate to cure such violation;

2. Rejecting the examination report with directions to the

examiners to reopen the examination for purposes of obtaining

additional data, documentation or information, and refiling pursuant

to subsection A of this section; or

3. Calling for an investigatory hearing with notice pursuant to

the Administrative Procedures Act to the company for purposes of

obtaining additional documentation, data, information and testimony.

D. 1. All orders entered pursuant to paragraph 1 of subsection

C of this section shall be accompanied by findings and conclusions

resulting from the Commissioner's consideration and review of the

examination report, relevant examiner work papers and any written

submissions or rebuttals. Any such order shall be considered a

final administrative decision and may be appealed pursuant to the

Administrative Procedures Act, and shall be served upon the company

by certified mail, together with a copy of the adopted examination

report. Within thirty (30) days of the issuance of the adopted

report, the company shall file affidavits executed by each of its

directors stating under oath that they have received a copy of the

adopted report and related orders.

2. Any hearing conducted pursuant to paragraph 3 of subsection

C of this section by the Commissioner or authorized representative

shall be conducted as a nonadversarial confidential investigatory

proceeding as necessary for the resolution of any inconsistencies,

discrepancies or disputed issues apparent upon the face of the filed

examination report or raised by or as a result of the Commissioner's

review of relevant work papers or by the written submission or

rebuttal of the company. Within thirty (30) days of the conclusion

of any such hearing, the Commissioner shall enter an order pursuant

to paragraph 1 of subsection C of this section.

3. The Commissioner shall not appoint an examiner as an

authorized representative to conduct the hearing. The Commissioner

or a representative of the Commissioner may issue subpoenas for the

attendance of any witnesses or the production of any documents

deemed relevant to the investigation whether under the control of

the Department, the company or other persons. The documents
this section.

3. The Commissioner shall not appoint an examiner as an

authorized representative to conduct the hearing. The Commissioner

or a representative of the Commissioner may issue subpoenas for the

attendance of any witnesses or the production of any documents

deemed relevant to the investigation whether under the control of

the Department, the company or other persons. The documents

produced shall be included in the record, and testimony taken by the

Oklahoma Statutes - Title 36. Insurance Page 66

Commissioner or representative of the Commissioner shall be under

oath and preserved for the record.

4. Nothing contained in this section shall require the

Department to disclose any information or records which would

indicate or show the existence or content of any investigation or

activity of a criminal justice agency.

5. The hearing shall proceed with the Commissioner or a

representative of the Commissioner posing questions to the persons

subpoenaed. Thereafter the company and the Department may present

testimony relevant to the investigation. The company and the

Department shall be permitted to make closing statements and may be

represented by counsel of their choice.

E. 1. Upon the adoption of the examination report under

paragraph 1 of subsection C of this section, the Commissioner shall

continue to hold the content of the examination report as private

and confidential information for a period of two (2) days except to

the extent provided in subsection B of this section and subsection F

of Section 309.3 of this title. Thereafter, the Commissioner may

open the report for public inspection so long as no court of

competent jurisdiction has stayed its publication.

2. Nothing contained in Sections 309.1 through 309.7 of this

title shall prevent or be construed as prohibiting the Commissioner

from disclosing the content of an examination report, preliminary

examination report or results, or any matter relating thereto, to

the insurance department of this or any other state or country, or

to law enforcement officials of this or any other state or agency of

the federal government at any time, so long as such agency or office

receiving the report or matters relating thereto agrees in writing

to hold it confidential and in a manner consistent with Sections

309.1 through 309.7 of this title.

3. In the event the Commissioner determines that regulatory

action is appropriate as a result of any examination, the

Commissioner may initiate any proceedings or actions as provided by

law.

4. No waiver of any applicable privilege or claim of

confidentiality in the documents, materials or information provided

to the Commissioner shall occur as a result of disclosure to the

Commissioner under this section or as a result of sharing as

authorized in subparagraph 2 of this paragraph.

F. All working papers, recorded information, documents, data

calls, Market Conduct Annual Statements and copies thereof produced

by, obtained by or disclosed to the Commissioner or any other person

in the course of an examination made under Sections 309.1 through

309.7 of this title, or in the course of analysis by the

Commissioner or any other person of the financial condition or

market conduct of a company, shall be given confidential treatment

and are not subject to subpoena and may not be made public by the

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Commissioner or any other person, except to the extent provided in

subsection E of this section and subsection F of Section 309.3 of

this title. Access may also be granted to the National Association

of Insurance Commissioners. Such parties shall agree in writing

prior to receiving the information to provide to it the same

confidential treatment as required by this section, unless the prior

written consent of the company to which it pertains has been

obtained.