SECTION 810:25-11-13. Security deposit

Latest version.

  A group self-insurance association may be required to post an irrevocable letter of credit with the Commission, in an amount determined by the Commission. The actual amount of the letter of credit will be determined by the Commission after evaluating the financial status of the association, including the following:
(1)   The association's available surplus;
(2)   The gap between the amount of premium estimated to be collected and the attachment point of the aggregate excess insurance policy; and
(3)   The financial strength of the collective membership.

[Source: Added at 31 Ok Reg 497, eff 2-4-14 (emergency); Added at 32 Ok Reg 1493, eff 8-27-15]

                    
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