Oklahoma Statutes (Last Updated: September 18, 2014)

§ 47-7-623. Temporary Insurance Premium Pool.

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A. There is hereby created the Temporary Insurance Premium Pool. Funds shall be deposited into the Temporary Insurance Premium Pool pursuant to subparagraph b of paragraph 1 of subsection A of Section 7-606 of Title 47 of the Oklahoma Statutes.
B. Any interest or earning accrued to the Plan Administrator accounts associated with the Oklahoma Temporary Motorist Liability Plan shall be deposited into the Temporary Insurance Premium Pool.
C. At the end of any state fiscal year, if the Temporary Insurance Premium Pool reserves exceed that year's three-month average total statewide premium, then the excess funds shall be distributed to the Department of Public Safety's operations fund.
D. The Temporary Insurance Premium Pool is subject to audit by the State Auditor and Inspector.

Added by Laws 2013, c. 176, § 3, eff. Nov. 1, 2013.

                    
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