The Insurance Commissioner shall be charged with the duty of administration and enforcement of the provisions of the Oklahoma Insurance Code, of any requirements placed on an insurance company pursuant to the Oklahoma Statutes. The Commissioner shall have jurisdiction over complaints against all persons engaged in the business of insurance, and shall hear all matters either in person, by authorized disinterested employees or by hearing examiners appointed by the Commissioner for that purpose and not specifically addressed otherwise in this act. It shall be the duty of the Commissioner to file and safely keep all books and papers required by law to be filed with the Insurance Department, and to keep and preserve in permanent form a full record of proceedings including a concise statement of the conditions of such insurers and other entities reported and examined by the Department and its examiners. The Commissioner shall, annually, at the earliest practicable date after returns are received from the several authorized insurers and other organizations, make a report to the Governor of the affairs of the office of the Commissioner, which report shall contain a tabular statement and synopsis of the several statements, as accepted by the Commissioner, which shall include with respect to each insurance company the admitted assets, liabilities except capital, capital and surplus, Oklahoma premium income, amount of claims paid in Oklahoma and such other matters as may be of benefit to the public. The Commissioner may educate consumers and make recommendations regarding the subject of insurance in this state, and shall set forth in a statement the various sums received and disbursed by the Department, from and to whom and for what purpose. Such report shall be published by and subject to the order of the Commissioner. The Commissioner shall, upon retiring from office, deliver to the qualified successor all furniture, records, papers and property of the office. Added by Laws 1957, p. 219, § 307, operative July 1, 1957. Amended by Laws 1965, c. 60, § 3, eff. July 1, 1965; Laws 1972, c. 162, § 1, emerg. eff. April 7, 1972; Laws 1980, c. 322, § 4, eff. Jan. 1, 1981; Laws 1986, c. 207, § 77, operative July 1, 1986; Laws 1987, c. 210, § 4, eff. July 1, 1987; Laws 1997, c. 418, § 6, eff. Nov. 1, 1997; Laws 2005, c. 355, § 3, eff. Nov. 1, 2005; Laws 2006, c. 264, § 4, eff. July 1, 2006; Laws 2017, c. 362, § 1; Laws 2021, c. 472, § 3, emerg. eff. May 11, 2021; Laws 2024, c. 345, § 2, eff. Nov. 1, 2024.
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