OK SB1290

Allows out-of-state insurers and health maintenance organizations to transact individual and group health insurance in Oklahoma without a certificate of authority if certified by the Insurance Commissioner

Out-of-state insurers must meet specified requirements including maintaining minimum capital and surplus, complying with domicile state laws, maintaining grievance procedures, and paying applicable taxes and assessments

Insurance Commissioner must issue or deny certification within 90 days; can revoke certification after notice and hearing for failure to meet requirements

Exempts certified out-of-state insurers and health maintenance organizations from most Oklahoma insurance statutes except those expressly required in the legislation

Authorizes the State and Education Employees Group Insurance Board and Oklahoma State Employees Benefits Council to contract with out-of-state health maintenance organizations for employee health benefits; effective November 1, 2010