1. A. Any insurer who files with the Insurance Commissioner any statement required by this Code knowing such statement to be fraudulent and materially false, upon conviction, shall be guilty of a Class D1 felony offense, for which the punishment shall be a fine of not to exceed Fifty Thousand Dollars ($50,000.00). Any officer, actuary, or employee of such insurer who causes such statement to be filed, knowing the fraudulent and materially false nature thereof, upon conviction, shall be guilty of a Class D1 felony offense, for which the punishment for each occurrence shall be a fine of not to exceed Twenty-five Thousand Dollars ($25,000.00), or imprisonment as provided for in subsections B through F of Section 20N of Title 21 of the Oklahoma Statutes, or both said fine and imprisonment, and shall never again be permitted to act as an actuary, officer, or director of any insurer licensed to do business in this state.
2. B. Any insurer who fails without reasonable cause and permission of the Commissioner to timely file any statement required by this Code shall be subject, after notice and opportunity for hearing, to censure, suspension or revocation of certificate. Annual statements filed after the first day of March without express written advance permission of the Commissioner shall be accompanied by a late filing fee in the amount of Two Hundred Fifty Dollars ($250.00) or One Hundred Dollars ($100.00) per day, whichever is greater. Repeated willful violations, after notice and opportunity for hearing, may subject the insurer to both censure, suspension, or revocation of certificate and civil penalty of not less than One Hundred Dollars ($100.00) nor more than Ten Thousand Dollars ($10,000.00) for each occurrence in addition to the late filing fee.
3. C. Prosecution or administrative action for any violation of the provisions of this section shall be commenced within four (4) years after the violation is discovered.

Laws 1957, HB 501, c. 1, p. 221, § 311.1, emerg. eff. May 27, 1957; Amended by Laws 1983, HB 1318, c. 68, § 4, eff. November 1, 1983; Amended by Laws 1985, HB 1424, c. 328, § 2, emerg. eff. July 29, 1985; Amended by Laws 1986, HB 1983, c. 251, § 2, emerg. eff. June 13, 1986; Amended by Laws 1993, HB 1831, c. 270, § 36, eff. September 1, 1993; Amended by Laws 1997, HB 1213, c. 133, § 444, eff. July 1, 1998 (superseded document available); Amended by Laws 1997, SB 327, c. 418, § 14 (effective date amended to July 1, 1999, by Laws 1998, 1st Extr. Sess., HB 1002, c. 2, §§ 23-26, emerg. eff. June 19, 1998) (superseded document available); Amended by Laws 2009, HB 1275, c. 432, § 2, emerg. eff. July 1, 2009 (superseded document available); Amended by Laws 2025, HB 2104, c. 486, § 494, eff. January 1, 2026 (superseded document available).