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Code · Oklahoma · Title 36 — Insurance

§36-6470.27. Standards ensuring exercise of control of risk

110 words·~1 min read·/ok/title-36-insurance/36-6470-27·

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management function of insured controlled unaffiliated business – Regulations.
The Insurance Commissioner shall promulgate regulations establishing standards to ensure that a parent or affiliated company is able to exercise control of the risk management for any controlled unaffiliated business to be insured by a pure captive insurance company; however, until such time as these regulations are promulgated, the Insurance Commissioner may by temporary order grant authority to a pure captive insurance company to insure risks. Added by Laws 2004, c. 334, § 34, emerg. eff. May 25, 2004. Amended by Laws 2013, c. 41, § 19, eff. Nov. 1, 2013; Laws 2015, c. 298, § 24, eff. Nov. 1, 2015.
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