OK Insurance Department Notice (2016)

Special Notice Re Motor Service Clubs Mandate for Electronic Filings

Year: 2016Length: 386 wordsOfficial source
Oklahoma City, OK 73112 (405) 521-3966 OKLAHOMA INSURANCE DEPARTMENT COMMISSIONER JOHN D. DOAK SPECIAL NOTICE TO: Authorized Motor Service Clubs FROM: Insurance Department, Financial Division SUBJECT: Oklahoma Insurance Department Regulation of Motor Service Clubs Effective July 1, 2017, Oklahoma Motor Service Clubs will electronically file all annual license renewals as they become due and all statements which exhibit the financial condition of the company pursuant to Order No. 16-634- PRJ. Title 36 O.S. Section 350: “Notwithstanding any other provision of law that requires a particular form and associated payment to be filed with the Insurance Department in paper form, or to be mailed or hand- delivered to the Insurance Department, the Insurance Commissioner may, by appropriate order, require that all filings of that specific type be filed or delivered in an electronic format.” Title 36 O.S. Section 3102(C)(2): Licenses may be renewed from year to year on or before July 1, or each year upon payment of the annual renewal fee of $100.00. Failure to pay the fee by the renewal date results in expiration of the certificate of authority. Title 36 O.S. Section 3106(B): “Every motor service club shall furnish to the Commissioner, on or before July 1 each year, on blanks prescribed and furnished by the Commissioner, a statement which shall exhibit the financial condition of the company as of December 31 of the previous calendar year. Such statements shall be subscribed and sworn by the president and secretary or two other proper officers of the company.” All Motor Service Clubs filing and payment instructions can be found on the OID website. Please visit: www.ok.gov/oid. From the OID Home Page, place cursor over “Regulated Entities” found on the blue title bar, then click “Financial” from the drop down menu. Click the green circle “Financial Forms”, go down to Motor Service Clubs. Register and/or login with OPTins at www.optins.org or by calling 816-783-8990. Note: Do not wait to register with OPTins, as the process can take several weeks to complete. If you have questions or concerns regarding the special notice, please contact the Oklahoma Insurance Department, Regulated Industry Services, Stephanie Stewart at (405) 521-3968. To view Order No. 16-638-PRJ you can go to www.oid.ok.gov, click on Public Information, Legal, Final Orders, 2016, Scroll down to 16-634- PRJ. Five Corporate Plaza 3625 NW 56th, Suite 100
OK Insurance Department Notice (2016): Special Notice Re Motor Service Clubs Mandate for Electronic Filings | Justis AI