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 Oklahoma Statutes (Last Updated: September 18, 2014)
 Title 36. INSURANCE

  § 36-1804. Appointment of supervisor - Acts prohibited - Additional requirements.  

Latest version.

  • A.  During any period of supervision, the Commissioner may appoint a supervisor for such insurer and provide that the insurer may not do any of the following things without the prior approval of the Commissioner or his supervisor:

    1.  Dispose, convey or encumber any of its assets or its business in force;

    2.  Withdraw funds from bank accounts;

    3.  Lend funds;

    4.  Invest funds;

    5.  Transfer property;

    6.  Incur any debt, obligation or liability;

    7.  Merge or consolidate with another company; or

    8.  Enter into any new reinsurance contract or treaty.

    B.  In addition, the Commissioner may require of the insurer, the following:

    1.  Periodic actuarial reviews;

    2.  That the insurer limit or cease writing certain lines of insurance.

Amended by Laws 1986, c. 251, § 28, eff. Nov. 1, 1986.