Okla. Stat. tit. 36, § 6470.25
Use of Assets to Pay Expenses and Claims Unrelated to Protected Cell - Availability of Capital and Surplus
Effective Nov 1, 2015Laws 2004, HB 2141, c. 334, § 32, emerg. eff. May 25, 2004; Amended by Laws 2006, HB 2905, c. 264, § 69, emerg. eff. July 1, 2006 (superseded document available); Amended by Laws 2015, SB 455, c. 298, § 23, eff. November 1, 2015 (superseded document available).
In the case of a sponsored captive insurance company:
- 1. The assets of the protected cell may not be used to pay expenses or claims other than those attributable to the protected cell; and
- 2. Its capital and surplus at all times must be available to pay expenses of or claims against the sponsored captive insurance company and may not be used to pay expenses or claims attributable to a protected cell.
Laws 2004, HB 2141, c. 334, § 32, emerg. eff. May 25, 2004; Amended by Laws 2006, HB 2905, c. 264, § 69, emerg. eff. July 1, 2006 (superseded document available); Amended by Laws 2015, SB 455, c. 298, § 23, eff. November 1, 2015 (superseded document available).