Okla. Stat. tit. 36, § 36-615.1
This is the official text of Okla. Stat. tit. 36, § 36-615.1, 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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Application to transact insurance - Application review
Official statutory text
Oklahoma Statutes - Title 36. Insurance Page 133
A. Unless otherwise instructed by the Insurance Commissioner,
an applicant requesting to be admitted to transact insurance in this
state shall follow the instructions outlined in the National
Association of Insurance Commissioners (NAIC) Uniform Certificate of
Authority Application (UCAA) instructions.
B. The Commissioner shall review and analyze each application
with focus on the following:
1. Identification and evaluation of the business and strategic
plans of the applicant, including but not limited to pro forma
financial projections;
2. Assessment of the quality and expertise of the ultimate
controlling person, proposed officers and directors, appointed
actuary and appointed accountant, including the use of the NAIC Form
A and SAD databases;
3. Adequacy of any proposed reinsurance program;
4. Adequacy of investment policy;
5. Adequacy of short-term and long-term financing arrangements,
including, but not limited to:
a. initial financing of proposed operations or
transaction, and
b. maintenance of adequate capital and surplus levels;
6. Biographical affidavits;
7. Related party agreements’ compliance with SSAP No. 25; and
8. Any other information the Commissioner deems necessary to
review.
A. Unless otherwise instructed by the Insurance Commissioner,
an applicant requesting to be admitted to transact insurance in this
state shall follow the instructions outlined in the National
Association of Insurance Commissioners (NAIC) Uniform Certificate of
Authority Application (UCAA) instructions.
B. The Commissioner shall review and analyze each application
with focus on the following:
1. Identification and evaluation of the business and strategic
plans of the applicant, including but not limited to pro forma
financial projections;
2. Assessment of the quality and expertise of the ultimate
controlling person, proposed officers and directors, appointed
actuary and appointed accountant, including the use of the NAIC Form
A and SAD databases;
3. Adequacy of any proposed reinsurance program;
4. Adequacy of investment policy;
5. Adequacy of short-term and long-term financing arrangements,
including, but not limited to:
a. initial financing of proposed operations or
transaction, and
b. maintenance of adequate capital and surplus levels;
6. Biographical affidavits;
7. Related party agreements’ compliance with SSAP No. 25; and
8. Any other information the Commissioner deems necessary to
review.
Status: in_force · Read it on the official government site
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