Whenever it appears to the Commissioner that any person has committed a violation of this act which so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders, creditors, shareholders or the public, then the Commissioner may proceed as provided in Articles 18 and 19 of Title 36 of the Oklahoma Statutes to take possession of the property of the domestic insurer and to conduct its business.
Okla. Stat. tit. 36, § 1644
Violations threatening insolvency - Possession taken by Commissioner
Added by Laws 2017, c. 350, § 14, emerg. eff
Official source: Oklahoma Legislature. Reproduced from public-domain Oklahoma statutes; confirm against the official source for the current text. Not legal advice.