Okla. Stat. tit. 36, § 36-6146
This is the official text of Okla. Stat. tit. 36, § 36-6146, 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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Deposit required
Official statutory text
A. A prepaid dental plan organization shall keep on deposit
with the Insurance Commissioner cash certificates of deposit issued
by solvent insured banks and trust companies in Oklahoma, or a
combination of cash certificates or securities eligible for
investment of capital funds, which have been approved by the
Commissioner in the following amounts:
Number of members Deposit
5,000 or less $25,000.00
5,001 - 7,500 $30,000.00
7,501 - 10,000 $50,000.00
10,001 - 15,000 $75,000.00
15,001 - 20,000 $100,000.00
20,001 - 25,000 $125,000.00
25,001 - 30,000 $150,000.00
30,001 - 40,000 $175,000.00
Oklahoma Statutes - Title 36. Insurance Page 1155
40,001 and above $200,000.00
B. The deposit required by the provisions of subsection A of
this section shall be held by the Commissioner in trust for the
benefit and protection of persons covered by a prepaid dental plan
and shall not be subject to attachment by any creditors of the
prepaid dental organization or plan.
C. Any securities required by the provisions of subsection A of
this section, with the approval of the Commissioner, may be
exchanged for similar securities or cash of equal amount. Interest
on securities deposited shall be payable to the prepaid dental plan
organization depositing such securities.
D. An unpaid final judgment arising upon a membership coverage
shall be a lien on the deposit held by the Commissioner, subject to
execution after thirty (30) days from the entry of final judgment,
unless the judgment is satisfied. If the deposit held by the
Commissioner is reduced, the deposit shall be replenished within
ninety (90) days by the prepaid dental plan organization.
E. The deposit prescribed by the provisions of subsection A of
this section shall not apply to a prepaid dental plan organization
which is funded by the state, a political subdivision of the state,
or the United States.
F. Upon liquidation or dissolution of a prepaid dental plan
organization and the satisfaction of all debts and liabilities of
the organization, any balance remaining of the cash or securities
deposit as prescribed in subsection A of this section together with
any other assets of the prepaid dental plan organization shall be
returned by the Commissioner to the prepaid dental plan
organization.
with the Insurance Commissioner cash certificates of deposit issued
by solvent insured banks and trust companies in Oklahoma, or a
combination of cash certificates or securities eligible for
investment of capital funds, which have been approved by the
Commissioner in the following amounts:
Number of members Deposit
5,000 or less $25,000.00
5,001 - 7,500 $30,000.00
7,501 - 10,000 $50,000.00
10,001 - 15,000 $75,000.00
15,001 - 20,000 $100,000.00
20,001 - 25,000 $125,000.00
25,001 - 30,000 $150,000.00
30,001 - 40,000 $175,000.00
Oklahoma Statutes - Title 36. Insurance Page 1155
40,001 and above $200,000.00
B. The deposit required by the provisions of subsection A of
this section shall be held by the Commissioner in trust for the
benefit and protection of persons covered by a prepaid dental plan
and shall not be subject to attachment by any creditors of the
prepaid dental organization or plan.
C. Any securities required by the provisions of subsection A of
this section, with the approval of the Commissioner, may be
exchanged for similar securities or cash of equal amount. Interest
on securities deposited shall be payable to the prepaid dental plan
organization depositing such securities.
D. An unpaid final judgment arising upon a membership coverage
shall be a lien on the deposit held by the Commissioner, subject to
execution after thirty (30) days from the entry of final judgment,
unless the judgment is satisfied. If the deposit held by the
Commissioner is reduced, the deposit shall be replenished within
ninety (90) days by the prepaid dental plan organization.
E. The deposit prescribed by the provisions of subsection A of
this section shall not apply to a prepaid dental plan organization
which is funded by the state, a political subdivision of the state,
or the United States.
F. Upon liquidation or dissolution of a prepaid dental plan
organization and the satisfaction of all debts and liabilities of
the organization, any balance remaining of the cash or securities
deposit as prescribed in subsection A of this section together with
any other assets of the prepaid dental plan organization shall be
returned by the Commissioner to the prepaid dental plan
organization.
Status: in_force · Read it on the official government site
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