Oklahoma § 36-634 Valid license required - Exempt entities.

Oklahoma Statutes

§ 36-634 — Valid license required - Exempt entities.

Oklahoma § 36-634

Title 36Insurance

This text of Oklahoma § 36-634 (Valid license required - Exempt entities.) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 36, § 36-634 (2026).

Text

A.It is unlawful to operate, maintain or establish a MEWA unless the MEWA has a valid license issued by the Insurance Commissioner. Any MEWA operating in this state without a valid license is an unauthorized insurer.

B.This act shall not apply to: 1. A MEWA that offers or provides benefits that are fully insured by an authorized insurer; 2. A MEWA that is exempt from state insurance regulation in accordance with the Employee Retirement Income Security Act of 1974 (ERISA) (Public Law 93-406); 3. Any plan that has no more than two employer members which share substantial common support other than income generated by their respective similar business classification; 4. A plan that has no more than two employer members, which together have a combined net worth of more than Five Million Dolla

Free access — add to your briefcase to read the full text and ask questions with AI

A. It is unlawful to operate, maintain or establish a MEWA unless the MEWA has a valid license issued by the Insurance Commissioner. Any MEWA operating in this state without a valid license is an unauthorized insurer. B. This act shall not apply to: 1. A MEWA that offers or provides benefits that are fully insured by an authorized insurer; 2. A MEWA that is exempt from state insurance regulation in accordance with the Employee Retirement Income Security Act of 1974 (ERISA) (Public Law 93-406); 3. Any plan that has no more than two employer members which share substantial common support other than income generated by their respective similar business classification; 4. A plan that has no more than two employer members, which together have a combined net worth of more than Five Million Dollars ($5,000,000.00) and each of such member employers participated in the continuous sponsorship and maintenance of such MEWA for the benefit of their employees for a period of more than ten (10) years next preceding the effective date of this act; or 5. A nonprofit professional trade association pursuant to Section 501(c)(3) of the Internal Revenue Code, 26 U.S.C., Section 501(c)(3), which has maintained either a self-funded plan or a fully insured plan of coverage for the payment of expenses to or for members of the association for a period of ten (10) or more consecutive years and, if self-funded, which coverage is provided to at least five hundred covered participants. C. Any entity which claims to be exempt from state regulation pursuant to subsection B of this section shall provide to the Commissioner strict proof establishing such exemption.

Legislative History

Added by Laws 1992, c. 374, § 2, eff. Jan. 1, 1993. Amended by Laws 2004, c. 416, § 1, emerg. eff. June 4, 2004; Laws 2019, c. 425, § 1, eff. Nov. 1, 2019.