Okla. Stat. tit. 36, § 36-309.5
This is the official text of Okla. Stat. tit. 36, § 36-309.5, 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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Examiner's conflict of interest
Official statutory text
A. No examiner may be appointed by the Insurance Commissioner
if such examiner, either directly or indirectly, has a conflict of
interest or is affiliated with the management of or owns a pecuniary
interest in any person subject to examination under Sections 309.1
through 309.7 of this title. This section shall not be construed to
automatically preclude an examiner from being:
1. A policyholder or claimant under an insurance policy;
2. A grantor of a mortgage or similar instrument on such
examiner's residence to a regulated entity if done under customary
terms and in the ordinary course of business;
3. An investment owner in shares of regulated diversified
investment companies; or
4. A settlor or beneficiary of a blind trust into which any
otherwise impermissible holdings have been placed.
B. Notwithstanding the requirements of this section, the
Commissioner may retain from time to time, on an individual basis,
qualified actuaries, an accounting firm or individual holding a
permit to practice public accounting in this state, or other similar
individuals who are independently practicing their professions, even
though said persons may from time to time be similarly employed or
retained by persons subject to examination under this act. An
examiner shall disclose to the Commissioner in writing any prior or
existing personal or business relationship with any company to be
examined by that examiner.
if such examiner, either directly or indirectly, has a conflict of
interest or is affiliated with the management of or owns a pecuniary
interest in any person subject to examination under Sections 309.1
through 309.7 of this title. This section shall not be construed to
automatically preclude an examiner from being:
1. A policyholder or claimant under an insurance policy;
2. A grantor of a mortgage or similar instrument on such
examiner's residence to a regulated entity if done under customary
terms and in the ordinary course of business;
3. An investment owner in shares of regulated diversified
investment companies; or
4. A settlor or beneficiary of a blind trust into which any
otherwise impermissible holdings have been placed.
B. Notwithstanding the requirements of this section, the
Commissioner may retain from time to time, on an individual basis,
qualified actuaries, an accounting firm or individual holding a
permit to practice public accounting in this state, or other similar
individuals who are independently practicing their professions, even
though said persons may from time to time be similarly employed or
retained by persons subject to examination under this act. An
examiner shall disclose to the Commissioner in writing any prior or
existing personal or business relationship with any company to be
examined by that examiner.
Status: in_force · Read it on the official government site
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