Okla. Admin. Code § 310:657-15-9

Current through Vol. 41, No. 19, June 17, 2024

Section 310:657-15-9 - Impairment

(a) A Plan with less than the minimum required net worth shall be considered an impaired Plan.

(b) The Commissioner shall determine the amount of impairment. The amount of impairment may be based on a financial statement made by a Plan or on an examination report. The Commissioner shall require the Plan to eliminate the impairment within ninety (90) days. If the Plan does not eliminate the impairment, the Commissioner may revoke the Plan's certificate.

Added at 12 Ok Reg 2977, eff 6-16-95 (emergency); Added at 13 Ok Reg 2127, eff 6-13-96