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Oklahoma Administrative Code (Last Updated: March 11, 2021) |
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TITLE 365. Insurance Department |
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Chapter 25. Other Licensees |
| Subchapter 1. General Provisions |
| SECTION 365:25-1-1. Purpose |
| SECTION 365:25-1-2. Severability |
| Subchapter 3. Producers, Brokers, Limited Lines Producers and Vehicle Protection Product Warrantors |
| SECTION 365:25-3-1.1. Application for resident producer license [revoked] |
| SECTION 365:25-3-1.2. Provisional producer licensees [revoked] |
| SECTION 365:25-3-1.3. Approved insurance company training program [revoked] |
| SECTION 365:25-3-1. Insurance producers continuing education |
| SECTION 365:25-3-1.4. Producer training requirements for long-term care insurance |
| SECTION 365:25-3-2. Insurance agency name [revoked] |
| SECTION 365:25-3-3. Licensing of incorporated insurance agency |
| SECTION 365:25-3-4. Knowledge of producer imputed to the insurer |
| SECTION 365:25-3-6. Management and commission contracts; approval by Insurance Commissioner [revoked] |
| SECTION 365:25-3-7. Advance commissions to officers |
| SECTION 365:25-3-8. Inducement of lapse, surrender or cancellation of existing permanent life insurance coverages prohibited |
| SECTION 365:25-3-9. "Twisting" defined and prohibited |
| SECTION 365:25-3-10. Participating contracts of life insurance |
| SECTION 365:25-3-11. Motor service club agent's license [revoked] |
| SECTION 365:25-3-12. Insurance consultants and surplus lines insurance brokers |
| SECTION 365:25-3-13. Surplus line insurance with non-admitted insurer; approval prior to issuance; collection and remittance of taxes; claims for tax adjustments; procedures; forms |
| SECTION 365:25-3-14. Insurance adjusters continuing education |
| SECTION 365:25-3-15. Variable product licensing |
| SECTION 365:25-3-16. Examination exemptions |
| SECTION 365:25-3-17. Agriculture Revenue Insurance License [revoked] |
| SECTION 365:25-3-18. Compensation and education for sale of Medicare Advantage (including private fee for service plans) or Medicare prescription drug products and plans |
| SECTION 365:25-3-19. Medicare Part D volunteer counselors |
| SECTION 365:25-3-20. Vehicle protection product warrantor; fee; forms |
| SECTION 365:25-3-20.1. Prior approval of vehicle protection product contract forms |
| SECTION 365:25-3-20.3. Disapproval of any vehicle protection product contract form |
| SECTION 365:25-3-20.2. Cancellation language for vehicle protection product contract forms |
| SECTION 365:25-3-21. Training and education requirements for the sale of annuities |
| Subchapter 5. Bail Bondsmen |
| Part 1. CONTINUING EDUCATION FOR BAIL BONDSMEN |
| Part 3. PERTAINING TO RELINQUISHMENT OF LIABILITIES PRIOR TO CONTRACTING AS AN AGENT OR SUBAGENT FOR ANOTHER INSURER TO PROFESSIONAL BONDSMAN [revoked] |
| Part 5. GENERAL PROVISIONS PERTAINING TO BAIL BONDSMEN |
| Part 7. SPECIFIC FINANCIAL CIRCUMSTANCES WARRANTING RELEASE OF PROFESSIONAL DEPOSIT |
| Subchapter 7. Companies |
| Part 1. AFFILIATE TRANSACTIONS [revoked] |
| Part 3. REDOMESTICATION |
| Part 5. OKLAHOMA INSURANCE HOLDING COMPANY SYSTEM REGULATORY ACT |
| Part 7. COMPANIES IN HAZARDOUS FINANCIAL CONDITION |
| Part 9. LIFE AND HEALTH REINSURANCE AGREEMENTS |
| Part 11. CREDIT FOR REINSURANCE |
| Part 13. ELECTRONIC FILINGS |
| Part 15. COMPANY SUPERVISION |
| Part 17. CORPORATE GOVERANCE |
| Part 19. ANNUAL FINANCIAL REPORTING |
| Subchapter 9. Prepaid Funeral Benefits |
| SECTION 365:25-9-1. Purpose |
| SECTION 365:25-9-2. Contract approval |
| SECTION 365:25-9-3. Forms |
| SECTION 365:25-9-4. Deposit reports and conversion reports |
| SECTION 365:25-9-5. Prohibited acts |
| SECTION 365:25-9-6. Amendments |
| SECTION 365:25-9-7. Severability provision |
| SECTION 365:25-9-8. Conversion from trust to insurance funded contracts |
| Subchapter 11. Viatical Settlements Regulation |
| SECTION 365:25-11-1. Approval of viatical settlement contracts by Commissioner pursuant to 36 O.S. § 4055.5 |
| SECTION 365:25-11-2. License requirements for viatical settlement providers [revoked] |
| SECTION 365:25-11-2.1. Definitions |
| SECTION 365:25-11-3. License requirements |
| SECTION 365:25-11-4. Other requirements for brokers [revoked] |
| SECTION 365:25-11-4.1. Standards for evaluation of reasonable payments for terminally ill insureds |
| SECTION 365:25-11-5. Reporting requirement |
| SECTION 365:25-11-6. General rules |
| SECTION 365:25-11-7. Requirement to file advertising |
| SECTION 365:25-11-8. Prohibited practices |
| SECTION 365:25-11-9. Insurance company practices |
| SECTION 365:25-11-10. Transition period for existing licenses |
| SECTION 365:25-11-11. Effective date [Expired] |
| Subchapter 13. Life Settlements Regulation [revoked] |
| SECTION 365:25-13-1. Approval of life settlement contracts by commissioner pursuant to 36 O.S. [revoked] |
| SECTION 365:25-13-2. License requirements for life settlement providers [revoked] |
| SECTION 365:25-13-3. License requirements for life settlement brokers [revoked] |
| SECTION 365:25-13-4. Other requirements for brokers [revoked] |
| SECTION 365:25-13-5. Reporting requirement [revoked] |
| SECTION 365:25-13-6. General rules [revoked] |
| SECTION 365:25-13-7. Advertising [revoked] |
| Subchapter 15. Captive Insurance Companies Regulation |
| SECTION 365:25-15-1. Purpose and authority |
| SECTION 365:25-15-1.1. Definitions |
| SECTION 365:25-15-2. Annual reporting requirements |
| SECTION 365:25-15-3. Annual Audit |
| SECTION 365:25-15-4. Independent Certified Public Accountant |
| SECTION 365:25-15-5. Deposit Requirement |
| SECTION 365:25-15-6. Organizational examination |
| SECTION 365:25-15-7. Reinsurance [revoked] |
| SECTION 365:25-15-8. Insurance managers and intermediaries |
| SECTION 365:25-15-9. Executive officers and directors |
| SECTION 365:25-15-10. Conflict of interest |
| SECTION 365:25-15-11. Rescission of captive license [revoked] |
| SECTION 365:25-15-12. Acquisition of control of or merger with domestic company |
| SECTION 365:25-15-13. Change of business |
| SECTION 365:25-15-14. Prior approval |
| SECTION 365:25-15-15. Severability Provision [revoked] |
| SECTION 365:25-15-16. Consolidated or combined audits |
| SECTION 365:25-15-17. Sponsored captive shares and dividends |
| SECTION 365:25-15-18. Variable contracts |
| SECTION 365:25-15-19. Qualification of sponsors |
| SECTION 365:25-15-20. Sponsored captive and cell assets |
| SECTION 365:25-15-21. Delinquency of sponsored captive insurance companies |
| SECTION 365:25-15-22. Reinsurance of life insurance policies |
| SECTION 365:25-15-23. Dormant captive insurance companies |
| SECTION 365:25-15-24. Severability |
| Subchapter 17. Consumer Protection in Annuity Transactions Regulation |
| SECTION 365:25-17-1. Purpose |
| SECTION 365:25-17-2. Scope |
| SECTION 365:25-17-3. Authority |
| SECTION 365:25-17-4. Exemptions |
| SECTION 365:25-17-5. Definitions |
| SECTION 365:25-17-6. Misrepresentation, fraud and incomplete comparisons of annuities |
| SECTION 365:25-17-7. Duties of insurers and of insurance producers |
| SECTION 365:25-17-8. Mitigation of responsibility |
| SECTION 365:25-17-9. Recordkeeping |
| SECTION 365:25-17-10. Advertisements [Expired] |
| SECTION 365:25-17-11. Visit in senior's home [Expired] |
| Subchapter 19. Annuity Disclosure Regulation |
| SECTION 365:25-19-1. Purpose |
| SECTION 365:25-19-2. Authority |
| SECTION 365:25-19-3. Applicability and scope |
| SECTION 365:25-19-4. Definitions |
| SECTION 365:25-19-5. Standards for the disclosure document and buyer's guide |
| SECTION 365:25-19-6. Report to Contract Owners |
| SECTION 365:25-19-7. Penalties |
| SECTION 365:25-19-8. Separability |
| SECTION 365:25-19-9. Effective Date |
| Subchapter 21. Regulation on the Use of Senior-Specific Certifications and Professional Designations in the Sale of Life Insurance and Annuities |
| SECTION 365:25-21-1. Purpose |
| SECTION 365:25-21-2. Scope |
| SECTION 365:25-21-3. Authority |
| SECTION 365:25-21-4. Definition |
| SECTION 365:25-21-5. Prohibited uses of senior-specific certifications and professional designations |
| SECTION 365:25-21-6. Effective Date |
| Subchapter 23. Cemetery Merchandise Trusts |
| SECTION 365:25-23-1. Purpose |
| SECTION 365:25-23-2. Permit required |
| SECTION 365:25-23-3. Contract approval |
| SECTION 365:25-23-4. Forms |
| SECTION 365:25-23-5. Trust fund and trustee |
| SECTION 365:25-23-6. Surety bond |
| SECTION 365:25-23-7. Reports to trustee |
| SECTION 365:25-23-8. Annual report |
| SECTION 365:25-23-9. Notice of sale |
| Subchapter 25. Oklahoma Employee Injury Benefit Act [revoked] |
| SECTION 365:25-25-1. Purpose [revoked] |
| SECTION 365:25-25-1. Purpose [revoked] |
| SECTION 365:25-25-2. Scope [revoked] |
| SECTION 365:25-25-2. Scope [revoked] |
| SECTION 365:25-25-3. Authority [revoked] |
| SECTION 365:25-25-3. Authority [revoked] |
| SECTION 365:25-25-4. Definitions [revoked] |
| SECTION 365:25-25-4. Definitions [revoked] |
| SECTION 365:25-25-5. Election notification to the Oklahoma Insurance Department [revoked] |
| SECTION 365:25-25-5. Election notification to the Oklahoma Insurance Department [revoked] |
| SECTION 365:25-25-6. Election fee [revoked] |
| SECTION 365:25-25-6. Election fee [revoked] |
| SECTION 365:25-25-7. Written benefit plan [revoked] |
| SECTION 365:25-25-7. Written benefit plan [revoked] |
| SECTION 365:25-25-8. Employee notice [revoked] |
| SECTION 365:25-25-8. Employee notice [revoked] |
| SECTION 365:25-25-9. Funding of Qualified Employer's benefit plan, liability, and other insurable risk [revoked] |
| SECTION 365:25-25-9. Funding of Qualified Employer's benefit plan, liability, and other insurable risk [revoked] |
| SECTION 365:25-25-10. Insuring Qualified Employer's benefit plan, liability, and other insurable risk [revoked] |
| SECTION 365:25-25-10. Insuring Qualified Employer's benefit plan, liability, and other insurable risk [revoked] |
| SECTION 365:25-25-11. Self- Funding Qualified Employer's benefit plan, liability, and other insurable risk [revoked] |
| SECTION 365:25-25-11. Self- Funding Qualified Employer's benefit plan, liability, and other insurable risk [revoked] |
| SECTION 365:25-25-12. Surety bond and irrevocable letter of credit [revoked] |
| SECTION 365:25-25-12. Surety bond and irrevocable letter of credit [revoked] |
| SECTION 365:25-25-13. Release of security deposit [revoked] |
| SECTION 365:25-25-13. Release of security deposit [revoked] |
| SECTION 365:25-25-14. Oklahoma Option Self-Insured Guaranty Fund [revoked] |
| SECTION 365:25-25-14. Oklahoma Option Self-Insured Guaranty Fund [revoked] |
| SECTION 365:25-25-15. Severability [revoked] |
| SECTION 365:25-25-15. Severability [revoked] |
| Subchapter 27. Military Sales Practices Regulation |
| SECTION 365:25-27-1. Purpose |
| SECTION 365:25-27-2. Scope |
| SECTION 365:25-27-3. Authority |
| SECTION 365:25-27-4. Exemptions |
| SECTION 365:25-27-5. Definitions |
| SECTION 365:25-27-6. Practices declared false, misleading, deceptive or unfair on a military installation |
| SECTION 365:25-27-7. Practices declared false, misleading, deceptive or unfair regardless of location |
| SECTION 365:25-27-8. Severability |
| Subchapter 29. Pharmacy Benefit Managers |
| SECTION 365:25-29-1. Purpose |
| SECTION 365:25-29-1. Purpose |
| SECTION 365:25-29-2. Scope |
| SECTION 365:25-29-2. Scope |
| SECTION 365:25-29-3. Authority |
| SECTION 365:25-29-3. Authority |
| SECTION 365:25-29-4. Definitions |
| SECTION 365:25-29-4. Definitions |
| SECTION 365:25-29-5. Forms and contents of application for PBM license |
| SECTION 365:25-29-5. Forms and contents of application for PBM license |
| SECTION 365:25-29-6. Surety bond |
| SECTION 365:25-29-6. Surety bond |
| SECTION 365:25-29-7. License term, renewals, fees |
| SECTION 365:25-29-7. License term, renewals, fees |
| SECTION 365:25-29-7.1. Retail pharmacy network access -audit |
| SECTION 365:25-29-7.1. Retail pharmacy network access -audit |
| SECTION 365:25-29-8. PBM to file certain financial statements with the Commissioner |
| SECTION 365:25-29-8. PBM to file certain financial statements with the Commissioner |
| SECTION 365:25-29-9. Contractual requirement |
| SECTION 365:25-29-9. Contractual requirement |
| SECTION 365:25-29-10. Penalty for noncompliance |
| SECTION 365:25-29-10. Penalty for noncompliance |
| SECTION 365:25-29-11. "Doing pharmacy benefits management business in this state" defined-venue-exceptions |
| SECTION 365:25-29-11. "Doing pharmacy benefits management business in this state" defined-venue-exceptions |
| SECTION 365:25-29-12. Commissioner's authority - advisory committee |
| SECTION 365:25-29-12. Commissioner's authority - advisory committee |
| SECTION 365:25-29-13. Claims payment |
| SECTION 365:25-29-13. Claims payment |
| SECTION 365:25-29-14. Inquiry/complaint handling process |
| SECTION 365:25-29-14. Inquiry/complaint handling process |
| SECTION 365:25-29-15. Examinations of PBMs and health insurers |
| SECTION 365:25-29-15. Examinations of PBMs and health insurers |
| Subchapter 30. Professional Employer Organizations |
| SECTION 365:25-30-1. Purpose |
| SECTION 365:25-30-2. Scope |
| SECTION 365:25-30-3. Authority |
| SECTION 365:25-30-4. Refusal to register |
| Appendix A. Form A: Oklahoma Insurance Holding Company System Acquisition Statement |
| Appendix B. Form B: Oklahoma Insurance Holding Company System Registration Statement |
| Appendix C. Prepaid Funeral Benefits Permit Original Application |
| Appendix D. Fidelity Bond |
| Appendix E. Application to Withdraw Funds Deposited for Prepaid Funeral Expenses |
| Appendix F. Buyers Application to Terminate Contract or Withdraw Funds Previously Deposited for Prepaid Funeral Benefits Under a Non-Specified or Guaranteed Contract |
| Appendix G. Annual Report |
| Appendix H. Annual Statement of Financial Condition(Reconciliation of Trust Accounts) |
| Appendix I. Application for Renewal of Permit [revoked] |
| Appendix J. Buyers Application to Terminate Contract and Withdraw Funds Deposited for Prepaid Funderal Expenses [revoked] |
| Appendix K. Certificate of Authority for Withdrawal and Repayment of Prepaid and Pre-Arranged Funderal Expenses [revoked] |
| Appendix L. Annual Report [revoked] |
| Appendix M. Appplication for Renewal of Prepaid Funeral Benefits Permit |
| Appendix N. Form C: Summary of Registration Statement |
| Appendix O. Form D: Prior Notice of a Transaction |
| Appendix P. Certificate of Assuming Insurer |
| Appendix Q. Form E |
| Appendix R. Conversion From Pre-Paid Funeral Trust to Insurance Funded Contracts |
| Appendix S. Buyer's Guide [revoked] |
| Appendix T. Insurance Company Training Program Affidavit [revoked] |
| Appendix U. Informational Brochure to be Provided to a Prospective Viator at First Contact Pursuant to O.A.C. 365:25-11-6(A) |
| Appendix V. Verification of Coverage for Life Insurance Policies |
| Appendix W. Payouts for Insureds Who are Terminally Ill |
| Appendix X. Sellers Notice to the Insurance Commissioner |
| Appendix Y. Assumption Affidavit |
| Appendix Z. Notice to Employees Concerning Qualified Employer |
| Appendix AA. Form F |
| Appendix BB. Written Confirmation Statement |
| Appendix CC. Certificate of Certified Reinsurer |
| Appendix DD. Annual Reinsurance Review - Property & Casualty Insurers |
| Appendix EE. Annual Reinsurance Review - Life & Health Insurers |
| Appendix FF. Small Employer Stop Loss Disclosure |
Note
[Authority: 15 O.S., § 141.3; 36 O.S., §§ 307.1, 1201 et seq., 1435.19, 1435.29(G), 1631 through 1648, 4055.16, 5124, 6121 through 6136, 6217, 6470.21, 7124, and 7401; 40 O.S., § 600.4; 59 O.S., §§ 358, 1302 (A), 1306(A), and 1308.1; 75 O.S., §§ 302 through 308.2; 85A O.S. § 202]
[Source: Codified 12-31-91]