1. (a) The members' supervisory board, the administrator, and the TPA shall remain in place if the association relinquishes its approval, and shall wind down the affairs of the association. A change in board membership, administrator, or TPA, must be approved by the Commission.
2. (b) A loss portfolio transfer or equivalent may be obtained by the association to transfer its liability to a licensed insurance company. Any transfer or equivalent must be filed with the Commission.
3. (c) Annual financial statements, as required in 810:25-11-5, will still be required once an association relinquishes its approval, unless otherwise approved by the Commission.
4. (d) Distributions of surplus, as referenced in 810:25-11-10, may be made upon application to the Commission. A full and final release of all funds from the association will not be allowed absent compliance with the criteria specified in 85A O.S., § 102(B).

Added at 31 Ok Reg 497, eff 2-4-14 (emergency)

Added at 32 Ok Reg 1493, eff 8-27-15

Amended at 35 Ok Reg 2312, eff 9-14-18