The State Insurance Fund is authorized to offer malpractice insurance and/or reinsurance to Oklahoma persons, firms and corporations engaged in health care services principally serving Oklahomans based upon the claims and loss ratio experience in Oklahoma at a premium that is calculated without profit or return to the state if such action is deemed in the public interest. Provided, that no such insurance or reinsurance shall be offered by the State Insurance Fund without the prior approval of the State Board for Property and Casualty Rates. The State Board for Property and Casualty Rates shall give such approval only when it finds that the State Insurance Fund has available reserves sufficient to insure or reinsure such coverage on an actuarially sound basis.

Added by Laws 1976, SB 622, c. 44, § 6, emerg. eff. April 8, 1976.