Oklahoma Statutes
§ 36-1698 — Insurance securitization – Not deemed an insurance or
Oklahoma·Title 36 Insurance
reinsurance contract. A protected cell company insurance securitization shall not be deemed to be an insurance or reinsurance contract. An investor in a protected cell company insurance securitization shall not, by sole means of this investment, be deemed to be transacting an insurance business in this state. The underwriters or selling agents and their partners, directors, officers, members, managers, employees, agents, representatives and advisors involved in a protected cell company insurance securitization shall not be deemed to be conducting an insurance or reinsurance agency, brokerage, intermediary, advisory or consulting business by virtue of their activities in connection with those businesses.
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Legislative History
Added by Laws 2019, c. 362, § 8, eff. Nov. 1, 2019.
Nearby Sections
15
§ 36-1001
Judicial review.§ 36-101
Short title.§ 36-102
"Insurance" defined.§ 36-103
"Insurer" defined.§ 36-104
"Person" defined.§ 36-105
"Transacting" insurance.§ 36-107
"Board" defined.§ 36-108
"Insurance Department" defined.§ 36-109
Compliance required.§ 36-1100
Short title - Purpose and effect.§ 36-1100.1
Definitions.§ 36-1100.2
Authority to enter multistate agreements.