Okla. Stat. tit. 36, § 36-613

A. Except as provided in subsection C of this section, any

insurer that incorporates or is authorized initially to transact the

business of insurance in Oklahoma after October 1, 1980, shall not

be issued a certificate of authority by the Insurance Commissioner

unless it has deposited in trust with the Commissioner cash or

securities eligible for the investment of capital funds of domestic

insurers under this Code in an amount not less than Three Hundred

Thousand Dollars ($300,000.00). The Commissioner may require a

greater amount to be deposited in trust if the Insurance

Commissioner finds that a greater amount is warranted for the

protection of the policyholders of the insurer pursuant to rules

promulgated by the Commissioner. Any amount over Three Hundred

Thousand Dollars ($300,000.00) must be documented and reasons stated

by the Commissioner in writing for the excess deposit amount. The

Commissioner will annually review those insurers with deposits above

Three Hundred Thousand Dollars ($300,000.00) to determine whether

such additional deposits remain justified.

B. The Commissioner shall not issue a certificate of authority

to any insurer that incorporated or was initially authorized to

transact the business of insurance in Oklahoma prior to October 1,

1980, unless it has deposited in trust with the Commissioner cash or

securities eligible for the investment of capital funds of domestic

insurers under this Code in an amount not less than the surplus in

regard to policyholders, or net admitted assets (if a Lloyd's

association) required pursuant to this Code to be maintained for

authority to transact the kinds of insurance to be transacted,

except that in the case of life and/or accident and health insurers

the deposit shall be in the amount of One Hundred Thousand Dollars

($100,000.00).

C. 1. As to domestic title insurers, the deposit shall be as

required by Article 50 (Title Insurers).

2. As to foreign insurers, in lieu of such deposit or part

thereof in this state, the Commissioner may accept the current

certificate in proper form of the public official having supervision

over insurers in any other state to the effect that a like deposit

or part thereof by such insurer is being maintained in public

Oklahoma Statutes - Title 36. Insurance Page 132

custody in such state in trust for the purpose, among other

reasonable purposes, of protection of all the insurer's

policyholders or of all its policyholders and creditors.

3. As to alien insurers, other than title insurers, in lieu of

such deposit or part thereof in this state, the Commissioner may

accept the certificate of the official having supervision over

insurance of another state in the United States, given under his or

her hand and seal, that the insurer maintains within the United

States by way of deposits with public depositaries, or in trust

institutions within the United States approved by such official,

assets available for discharge of its United States insurance

obligations, which assets shall be in amount not less than the

outstanding liabilities of the insurer arising out of its insurance

transactions in the United States, together with the largest deposit

required by this Code to be made in this state by any type of

domestic insurer transacting like kinds of insurance.

D. Any securities deposited by insurers shall be issued to the

Commissioner and the insurer and shall not be released by any

company holding such security without the signatures of the

Commissioner and the authorized insurer's personnel. Failure of any

company holding such security to comply with this subsection may

result, after hearing by the proper licensing authority, in a fine

of not more than Twenty-five Thousand Dollars ($25,000.00) per

occurrence.