Membership in or participation in insurance insolvency guaranty fund prohibited - Purchasing group coverage - Risks not covered. A. No risk retention group shall be permitted to join or contribute financially to any insurance insolvency guaranty fund, or similar mechanism, in this state, nor shall any risk retention group, or its insureds or claimants against its insureds, receive any benefit from any such fund for claims arising under the insurance policies issued by a risk retention group. B. When a purchasing group obtains insurance covering its members' risks from an insurer not authorized in this state or a risk retention group, no such risks, wherever resident is located, shall be covered by any insurance guaranty fund or similar mechanism in this state. C. When a purchasing group obtains insurance covering its members' risks from an authorized insurer, only risks resident or located in this state may be covered by the Oklahoma Property and Casualty Insurance Guaranty Association.
Okla. Stat. tit. 36, § 6456
Membership in or participation in insurance insolvency guaranty fund prohibited - Purchasing group coverage - Risks not covered
Added by Laws 1987, c. 157, § 6, emerg. eff
Official source: Oklahoma Legislature. Reproduced from public-domain Oklahoma statutes; confirm against the official source for the current text. Not legal advice.