Okla. Stat. tit. 36, § 36-311.1
This is the official text of Okla. Stat. tit. 36, § 36-311.1, 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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Fraudulent or false statement - Failure to timely file
Official statutory text
statement - Penalty.
A. Any insurer who files with the Insurance Commissioner any
statement required by this Code knowing such statement to be
fraudulent and materially false, upon conviction, shall be guilty of
a Class D1 felony offense, for which the punishment shall be a fine
of not to exceed Fifty Thousand Dollars ($50,000.00). Any officer,
actuary, or employee of such insurer who causes such statement to be
filed, knowing the fraudulent and materially false nature thereof,
upon conviction, shall be guilty of a Class D1 felony offense, for
which the punishment for each occurrence shall be a fine of not to
exceed Twenty-five Thousand Dollars ($25,000.00), or imprisonment as
provided for in subsections B through F of Section 20N of Title 21
of the Oklahoma Statutes, or both said fine and imprisonment, and
shall never again be permitted to act as an actuary, officer, or
director of any insurer licensed to do business in this state.
B. Any insurer who fails without reasonable cause and
permission of the Commissioner to timely file any statement required
by this Code shall be subject, after notice and opportunity for
hearing, to censure, suspension or revocation of certificate.
Oklahoma Statutes - Title 36. Insurance Page 74
Annual statements filed after the first day of March without express
written advance permission of the Commissioner shall be accompanied
by a late filing fee in the amount of Two Hundred Fifty Dollars
($250.00) or One Hundred Dollars ($100.00) per day, whichever is
greater. Repeated willful violations, after notice and opportunity
for hearing, may subject the insurer to both censure, suspension, or
revocation of certificate and civil penalty of not less than One
Hundred Dollars ($100.00) nor more than Ten Thousand Dollars
($10,000.00) for each occurrence in addition to the late filing fee.
C. Prosecution or administrative action for any violation of
the provisions of this section shall be commenced within four (4)
years after the violation is discovered.
A. Any insurer who files with the Insurance Commissioner any
statement required by this Code knowing such statement to be
fraudulent and materially false, upon conviction, shall be guilty of
a Class D1 felony offense, for which the punishment shall be a fine
of not to exceed Fifty Thousand Dollars ($50,000.00). Any officer,
actuary, or employee of such insurer who causes such statement to be
filed, knowing the fraudulent and materially false nature thereof,
upon conviction, shall be guilty of a Class D1 felony offense, for
which the punishment for each occurrence shall be a fine of not to
exceed Twenty-five Thousand Dollars ($25,000.00), or imprisonment as
provided for in subsections B through F of Section 20N of Title 21
of the Oklahoma Statutes, or both said fine and imprisonment, and
shall never again be permitted to act as an actuary, officer, or
director of any insurer licensed to do business in this state.
B. Any insurer who fails without reasonable cause and
permission of the Commissioner to timely file any statement required
by this Code shall be subject, after notice and opportunity for
hearing, to censure, suspension or revocation of certificate.
Oklahoma Statutes - Title 36. Insurance Page 74
Annual statements filed after the first day of March without express
written advance permission of the Commissioner shall be accompanied
by a late filing fee in the amount of Two Hundred Fifty Dollars
($250.00) or One Hundred Dollars ($100.00) per day, whichever is
greater. Repeated willful violations, after notice and opportunity
for hearing, may subject the insurer to both censure, suspension, or
revocation of certificate and civil penalty of not less than One
Hundred Dollars ($100.00) nor more than Ten Thousand Dollars
($10,000.00) for each occurrence in addition to the late filing fee.
C. Prosecution or administrative action for any violation of
the provisions of this section shall be commenced within four (4)
years after the violation is discovered.
Status: in_force · Read it on the official government site
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