Okla. Admin. Code § 365:25-15-12

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

Section 365:25-15-12 - Acquisition of control of or merger with domestic company

(a) All persons shall comply with Sections 1651-1653 of Title 36 and associated regulations when seeking to acquire control of or merge with a domestic captive insurer, notwithstanding that the Insurance Commissioner may waive or modify the requirements for public notice and hearing when the Insurance Commissioner concludes the public hearing is not necessary due to the limited public interest in the change of control.

(b) Definitions of terms found in Section 1651 of Title 36 shall apply when a captive insurance company seeks to acquire control of or merge with a domestic company. For purposes of this section, the definition of the term insurer as set out in Section 1651 of Title 36 shall include captive insurance companies.

Okla. Admin. Code § 365:25-15-12

Added at 22 Ok Reg 2045, eff 7-14-05

Amended by Oklahoma Register, Volume 31, Issue 24, September 2, 2014, eff. 9/15/2014

Amended by Oklahoma Register, Volume 32, Issue 24, September 1, 2015, eff. 9/15/2015