Oklahoma Statutes (Last Updated: September 18, 2014)

§ 36-2023. Creation - Membership - Administration - Supervision.

Latest version.

A. There is created a nonprofit legal entity to be known as the Oklahoma Life and Health Insurance Guaranty Association. All member insurers shall be and remain members of the Association as a condition of their authority to transact insurance business in this state.
B. The Association shall perform its functions under a plan of operation established and approved in accordance with this act and shall exercise its powers through the Board of Directors established in this act. For purposes of administration and assessment, the Association shall maintain three (3) accounts:
1. The health insurance account;
2. The life insurance account; and
3. The annuity account.
C. The Association shall come under the immediate supervision of the Commissioner and shall be subject to the applicable provisions of the insurance laws of this state.

Laws 1981, c. 133, § 3.

                    
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