1. (a) Except as otherwise provided, any change in the nature of the captive business from that stated in the company's plan of operation filed with the Insurance Commissioner upon application requires prior approval from the Insurance Commissioner.
2. (b) For purposes of this Section, "nature of the captive business" includes, but is not limited to, nonrecurring transactions such as loans or extensions of credit, reinsurance agreements or modifications thereto, management agreements, service contracts and all cost-sharing arrangements and changes in certificate of incorporation or bylaws.
3. (c) All business plan changes, both in the nature of the captive business or otherwise, shall be filed with the Insurance Commissioner thirty (30) days in advance of the effective date of the change. The effective date of any business plan change for a captives shall not be prior to approval of the Insurance Commissioner.

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

Amended at 31 Ok Reg 1897, eff 9-15-14

Amended at 32 Ok Reg 1953, eff 9-15-15

Amended at 38 Ok Reg 1116, eff 11-1-21

Amended at 40 Ok Reg 1628, eff 9-1-23