Okla. Stat. tit. 36, § 36-6470.34
This is the official text of Okla. Stat. tit. 36, § 36-6470.34, 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.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Entity-protected cell
Official statutory text
A. A protected cell of a sponsored captive insurance company
may be formed as an entity-protected cell. "Entity-protected cell"
means a protected cell that is established as any type of legal
entity separate from the sponsored captive insurance company of
which it is a part.
B. Subject to the prior written approval of the sponsored
captive insurance company and of the Insurance Commissioner, an
entity-protected cell shall be entitled to enter into contracts and
undertake obligations in its own name and for its own account. In
the case of a contract or obligation to which the sponsored captive
insurance company is not a party, either in its own name and for its
own account or on behalf of a protected cell, the counterparty to
the contract or obligation shall have no right or recourse against
the sponsored captive insurance company and its assets other than
against assets properly attributable to the entity-protected cell
that is a party to the contract or obligation.
C. The articles of incorporation or articles of organization of
an entity-protected cell shall refer to the sponsored captive
insurance company for which it is a protected cell and shall state
that the protected cell is incorporated or organized for the limited
purposes authorized by the sponsored captive insurance company's
license. A copy of the prior written approval of the Commissioner
to add the entity-protected cell, required by Section 6470.29 of
Title 36 of the Oklahoma Statutes, shall be attached to and filed
with the articles of incorporation or the articles of organization.
D. Sponsored captive insurance companies, including those
licensed as special purpose captive insurance companies, shall have
Oklahoma Statutes - Title 36. Insurance Page 1234
the option to establish one or more protected cells as a separate
corporation, mutual corporation, nonprofit corporation, limited
liability company, or reciprocal insurer. This section shall not be
construed to limit any rights or protections applicable to protected
cells not established as corporations, mutual corporations,
nonprofit corporations, limited liability companies, or reciprocal
insurers.
may be formed as an entity-protected cell. "Entity-protected cell"
means a protected cell that is established as any type of legal
entity separate from the sponsored captive insurance company of
which it is a part.
B. Subject to the prior written approval of the sponsored
captive insurance company and of the Insurance Commissioner, an
entity-protected cell shall be entitled to enter into contracts and
undertake obligations in its own name and for its own account. In
the case of a contract or obligation to which the sponsored captive
insurance company is not a party, either in its own name and for its
own account or on behalf of a protected cell, the counterparty to
the contract or obligation shall have no right or recourse against
the sponsored captive insurance company and its assets other than
against assets properly attributable to the entity-protected cell
that is a party to the contract or obligation.
C. The articles of incorporation or articles of organization of
an entity-protected cell shall refer to the sponsored captive
insurance company for which it is a protected cell and shall state
that the protected cell is incorporated or organized for the limited
purposes authorized by the sponsored captive insurance company's
license. A copy of the prior written approval of the Commissioner
to add the entity-protected cell, required by Section 6470.29 of
Title 36 of the Oklahoma Statutes, shall be attached to and filed
with the articles of incorporation or the articles of organization.
D. Sponsored captive insurance companies, including those
licensed as special purpose captive insurance companies, shall have
Oklahoma Statutes - Title 36. Insurance Page 1234
the option to establish one or more protected cells as a separate
corporation, mutual corporation, nonprofit corporation, limited
liability company, or reciprocal insurer. This section shall not be
construed to limit any rights or protections applicable to protected
cells not established as corporations, mutual corporations,
nonprofit corporations, limited liability companies, or reciprocal
insurers.
Status: in_force · Read it on the official government site
Need a lawyer in Oklahoma?
Find a Oklahoma lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.