Okla. Stat. tit. 36 § 6470.25

Current through Laws 2024, c. 378.

Section 6470.25 - Protected cell - Use of assets

In the case of a sponsored captive insurance company:

1. The assets of the protected cell may not be used to pay expenses or claims other than those attributable to the protected cell; and

2. Its capital and surplus at all times must be available to pay expenses of or claims against the sponsored captive insurance company and may not be used to pay expenses or claims attributable to a protected cell.

Okla. Stat. tit. 36, § 6470.25

Amended by Laws 2015 , c. 298, s. 23, eff. 11/1/2015.

Added by Laws 2004 , HB 2141, c. 334, §32, emerg. eff. 5/25/2004; Amended by Laws 2006 , HB 2905, c. 264, §69, emerg. eff. 7/1/2006.