A. The Insurance Commissioner may suspend or revoke any certificate of authority issued pursuant to this act if the Commissioner finds that the prepaid vision plan organization:1. Is operating contrary to the basic organizational documents of the organization or in a manner contrary to that described in or reasonably inferred from any information submitted pursuant to Section 6 of this act;2. Issues a coverage policy which does not comply with the requirements of Section 10 of this act;3. Does not provide or arrange for basic vision services appropriate to a prepaid vision plan;4. Can no longer be expected to meet the obligations to enrollees or prospective enrollees of the prepaid vision plan;5. Uses fraudulent, coercive, or dishonest practices, or demonstrates incompetence, untrustworthiness, or financial irresponsibility in the conduct of business;6. Fails to deal equitably with any providers or other persons or facilities which offer services covered within a contract or policy issued pursuant to this act; or7. Fails to substantially comply with the insurance laws of this state or violates any regulation, rule, subpoena, or order of the Commissioner.B. When the certificate of authority of a prepaid vision plan organization is suspended, the organization shall not accept, during the period of such suspension, any additional enrollments for coverage except newly acquired dependents of existing enrollees and shall not engage in any advertising or solicitation.C. When the certificate of authority of a prepaid vision plan organization is revoked, the organization shall terminate operation of the organization in this state immediately and shall conduct no further business except as may be essential to the orderly conclusion of the business affairs of the organization. The Commissioner, by written order, may permit further operation of the organization as the Commissioner finds to be in the best interest of members of the organization.D. In addition to or in lieu of any applicable suspension or revocation of a certificate of authority, the Commissioner may invoke a fine not to exceed One Thousand Dollars ($1,000.00) for each violation. The payment of the fine may be enforced in the same manner as civil judgments may be enforced.E. A prepaid vision plan organization which has had its certificate of authority denied, suspended, or revoked, or has suffered an adverse determination by the Commissioner shall be entitled to a hearing pursuant to the provisions of the Administrative Procedures Act under Section 250 et seq. of Title 75 of the Oklahoma Statutes.Okla. Stat. tit. 36, § 6983
Added by Laws 2024, c. 360,s. 12, eff. 5/30/2024.