Okla. Admin. Code § 200:10-3-3

Current through Vol. 42, No. 7, December 16, 2024

Section 200:10-3-3 - Standards of operation of the Fund

(a)Administration.The Authority shall administer the Fund prudently and according to good insurance practice. Such administration will minimize the loss experience of the Fund, assure the future viability of the Fund, and assure the continuing availability of the proceeds of the Bonds as a credit enhancement vehicle for bond issues in this state on an ongoing basis. [74:5063.4(B)]

(b)Principles of insurability.The granting of credit enhancement by the Fund shall be based on principles of insurability generally applied in the credit enhancement/insurance industry. [74:5063.4(B)]

(c)Standards. Although the principles generally applied in the credit enhancement/insurance industry will be utilized, the standards applied by the Fund in applying those principles may vary from the standards utilized by private providers of credit facilities.

Okla. Admin. Code § 200:10-3-3