Okla. Stat. tit. 36, § 36-981
This is the official text of Okla. Stat. tit. 36, § 36-981, 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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Short title and purposes of act
Official statutory text
Short Title and Purposes of Act.
A. Sections 981 through 998 of this title and Sections 22, 23
and 24 of this act shall constitute a part of the Oklahoma Insurance
Code and shall be known and may be cited as the "Property and
Casualty Competitive Loss Cost Rating Act".
B. The purposes of the Property and Casualty Competitive Loss
Cost Rating Act are:
1. To promote price competition among insurers so as to provide
rates that are responsive to competitive market conditions;
2. To protect policyholders and the public against the adverse
effects of excessive, inadequate or unfairly discriminatory rates;
3. To prohibit unlawful price-fixing agreements and other
anticompetitive behavior by insurers;
4. To provide regulatory procedures for the maintenance of
appropriate data reporting systems;
5. To provide regulatory controls in the absence of a
competitive marketplace; and
6. To authorize essential cooperative action among insurers in
the ratemaking process and to regulate such activity to prevent
practices that substantially lessen competition or create a
monopoly.
A. Sections 981 through 998 of this title and Sections 22, 23
and 24 of this act shall constitute a part of the Oklahoma Insurance
Code and shall be known and may be cited as the "Property and
Casualty Competitive Loss Cost Rating Act".
B. The purposes of the Property and Casualty Competitive Loss
Cost Rating Act are:
1. To promote price competition among insurers so as to provide
rates that are responsive to competitive market conditions;
2. To protect policyholders and the public against the adverse
effects of excessive, inadequate or unfairly discriminatory rates;
3. To prohibit unlawful price-fixing agreements and other
anticompetitive behavior by insurers;
4. To provide regulatory procedures for the maintenance of
appropriate data reporting systems;
5. To provide regulatory controls in the absence of a
competitive marketplace; and
6. To authorize essential cooperative action among insurers in
the ratemaking process and to regulate such activity to prevent
practices that substantially lessen competition or create a
monopoly.
Status: in_force · Read it on the official government site
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