Okla. Stat. tit. 36, § 36-6031

of information - Recovery of profits.

A. Every person who is directly or indirectly the beneficial

owner of more than ten per cent (10%) of any class of equity

security of an insurer or who is a director or officer of such

insurer shall file in the office of the Insurance Commissioner

Oklahoma Statutes - Title 36. Insurance Page 1060

within (10) ten days after becoming such beneficial owner, director

or officer a statement, in such form and detail and subject to such

rules as the Insurance Commissioner may prescribe, of the amount of

all equity securities of such insurer of which he or she is the

beneficial owner, director or officer within ten (10) days after the

close of each calendar month thereafter, if there has been a change

in such ownership during such month, shall file in the office of the

Insurance Commissioner a statement, in such form and detail and

subject to such rules as the Insurance Commissioner may prescribe,

indicating his or her ownership at the close of the calendar month

and such changes in his or her ownership as have occurred during

such calendar month.

B. For the purpose of preventing the unfair use of information

which may have been obtained by such beneficial owner, director or

officer by reason of his or her relationship to such insurer, any

profit realized by him or her from any purchase and sale or any sale

and purchase, of any equity security of such insurer within any

period of less than two (2) years subsequent to the incorporation of

the insurer, shall inure to and be recoverable by the insurer,

unless such equity security was acquired in good faith in connection

with a debt previously contracted, irrespective of any intention on

the part of such beneficial owner, director or officer in entering

into such transaction.

C. Suit to recover such profit may be instituted at law or in

equity in any court of competent jurisdiction by the insurer or by

the owner of any equity security of the insurer in the name and in

behalf of the insurer if the insurer shall fail or refuse to bring

such suit within sixty (60) days after request or shall fail

diligently to prosecute the same thereafter. If no suit to recover

such profit is so filed within six (6) months following the date

such profit was realized or accrued or if at any time such suit is

not diligently prosecuted, the Insurance Commissioner may file or

prosecute such suit for and on behalf of the insurer at the expense

of the insurer.