§36-1442. Definitions.
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/ok/title-36-insurance/36-1442·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
As used in the Third-party Administrator Act, Section 1441 et seq. of this title:
1. "Administrator" means any person who collects premiums for an insurer or trust or who adjusts or settles claims for an insurer or trust, in connection with life or health insurance coverage, annuities or employee benefit stop loss in this state, but shall not
include any person who collects premiums or who adjusts or settles claims under the following circumstances:
a. any employer on behalf of the employees of that
employer or the employees of one or more subsidiary or
affiliated corporations of that employer,
b. a union on behalf of its members,
c. an insurance company which is licensed to transact
insurance business in this state,
d. a wholly owned subsidiary of an entity which is
subject to the jurisdiction of the Insurance
Commissioner,
e. an insurance company acting as an insurer with respect
to a policy lawfully issued and delivered by said
company in and pursuant to the laws of this state,
f. a hospital, medical, dental, or optometric service
corporation or a health care service organization,
including their agents, authorized by the Commissioner
to issue contracts in this state pursuant to the
provisions of the Oklahoma Insurance Code when engaged
in the performance of their duties,
g. a life or disability agent or broker who is licensed
in this state and whose activities are limited
exclusively to the sale of insurance,
h. an adjuster licensed in this state for the kinds of
business for which he is acting as an adjuster,
i. a creditor insuring a debt between the creditor and
its debtors on behalf of said creditor's debtors,
j. a financial institution which is subject to
supervision or examination by federal or state banking
authorities,
k. a company which issues credit cards and advances
credit for and collects premiums or charges from its
credit card holders who have authorized said
collection, if the company does not adjust or settle
claims,
l. a person who adjusts or settles claims in the normal
course of practice or employment as an attorney-at-law
and who does not collect charges or premiums in
connection with life or health insurance coverage or
annuities,
m. any workers' compensation trust, or
n. a trust providing benefits to the employees of any
political subdivision of a city, county or the state;
and
2. "Trust" means any trust other than those exempted in paragraph 1 of this section which engages in the business of making contracts of insurance.
Added by Laws 1983, c. 89, § 2, eff. Nov. 1, 1983. Amended by Laws 1984, c. 173, § 5, emerg. eff. May 7, 1984; Laws 1987, c. 175, § 15, eff. Nov. 1, 1987; Laws 2008, c. 184, § 15, eff. July 1, 2008; Laws 2013, c. 254, § 26, eff. Jan. 1, 2015.