1. A. Sections 1101 through 1121 of this title shall be known and may be cited as the "Unauthorized Insurers and Surplus Lines Insurance Act".

2. B. No person in Oklahoma shall in any manner:

   1. 1. Represent or assist any insurer not then duly authorized to transact insurance in Oklahoma, in the soliciting, procuring, placing, or maintenance of any insurance coverage upon or with relation to any subject of insurance resident, located, or to be performed in Oklahoma.
   2. 2. Inspect or examine any risk or collect or receive any premium on behalf of the insurer.
3. C. Any person transacting insurance in violation of this section shall be liable to the insured for the performance of any contract between the insured and the insurer resulting from the transaction.
4. D. This section shall not apply as to reinsurance, to surplus line insurance lawfully procured pursuant to this article, to transactions exempt under Section 606 of this title (Authorization of Insurers and General Qualifications), or to professional services of an adjuster or attorney-at-law from time to time with respect to claims under policies lawfully solicited, issued, and delivered outside of Oklahoma.
5. E. The investigation and adjustment of any claim in this state arising under an insurance contract issued by an unauthorized insurer shall not be deemed to constitute the transacting of insurance in this state.
6. F. Insurance companies not licensed in the State of Oklahoma shall not contract with the trustees of any fund which will insure residents in this state without the previous written approval of the Insurance Commissioner.

Added by Laws 1957, HB 501, p. 256, § 1101; Amended by Laws 1976, SB 718, c. 98, § 1, emerg. eff. May 10, 1976; Amended by Laws 2010, SB 2054, c. 222, § 10, eff. November 1, 2010 (superseded document available).