OK HB2021

Authorizes the Oklahoma Insurance Commissioner to participate in supervisory colleges for domestic insurers that are part of insurance holding company systems with international operations to assess compliance with Article 16A of Title 36.

Grants the Commissioner powers to initiate supervisory colleges, clarify membership and participation of other supervisors, establish functions and roles of regulators, coordinate ongoing activities, and establish crisis management plans.

Requires registered insurers subject to supervisory colleges to pay reasonable expenses of the Commissioner's participation, including travel costs, which may be assessed on a regular basis.

Allows the Commissioner to share confidential and privileged information with state, federal, and international regulatory agencies and NAIC members for supervisory purposes while maintaining confidentiality protections and preventing disclosure in private civil actions.

Effective November 1, 2015.