SECTION 365:25-7-82. Authorization

(a)   The Commissioner is authorized to enter into agreements in accordance with Sections 1638 and 1640 of Title 36 of the Oklahoma Statutes, providing the basis for cooperation between the Commissioner and other regulatory agencies.

(b)   Pursuant to various provisions of Title 36, the Commissioner has the legal authority and power to obtain, hold, and exchange certain confidential information in respect to individuals, legal entities, and groups, including the relevant non-regulated entities of such groups when:

(1)   the Commissioner considers the information to be necessary for the supervision of insurance legal entities or groups, or when another Regulator considers the information to be necessary, and

(2)   the Commissioner is reasonably requested to provide relevant information by another Regulator.

(c)   Information necessary for the supervision of insurance legal entities or groups may include, but is not limited to:

(1)   Information on the management and operational systems and controls operated by insurers;

(2)   Financial data relating to an insurer and its affiliates;

(3)   Information concerning individuals holding positions of responsibility in insurers (to include owners, shareholders, directors, managers, employees, or contractors);

(4)   Information concerning individuals or insurers involved, or suspected of being involved, in criminal activities;

(5)   Information arising from or developed as part of regulatory investigations and reviews, and on any restrictions imposed on the business activities of insurers;

(6)   Information requested and gathered from a supervised entity (including appropriate customer transactional information);

(7)   Information reported within supervisory groups to meet group supervisory requirements;

(8)   Information on a supervised entity and affiliates including, but not limited to, branches, subsidiaries, and non-regulated holding companies; and

(9)   Information on prospective and actual insurer transactions and prospective and actual transactions of policyholders.

[Source: Added at 34 Ok Reg 351, eff 12-16-16 (emergency); Added at 34 Ok Reg 1687, eff 9-15-17; Amended at 35 Ok Reg 1744, eff 9-14-18]