SECTION 310:657-13-1. Ownership

Latest version.

  The Plan's ownership, control and management shall have the knowledge, skills and experience that will make the Plan's operation beneficial to employees. The Commissioner shall not grant or renew a certificate when the Plan's ownership, control, or management is under the control of any person whose operations are or have been marked by the following:
(1)   business practice or conduct that is to the detriment of the public, stockholders, investors, or creditors; or
(2)   improper manipulation of assets or accounts.

[Source: Added at 12 Ok Reg 2977, eff 6-16-95 (emergency); Added at 13 Ok Reg 2127, eff 6-13-96; Amended at 23 Ok Reg 2404, eff 6-25-06]

                    
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