Okla. Stat. tit. 36, § 36-1616
This is the official text of Okla. Stat. tit. 36, § 36-1616, part of Oklahoma’s Stat. tit. 36, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 36,." Browse the sections below, each linked to its official government source.
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Limitations on investments in corporate securities
Official statutory text
A. Except with the consent of the Insurance Commissioner, no
domestic life insurer shall, in addition to other investments
permitted by this article, invest an amount equal in the aggregate
to more than ten percent (10%) of its assets, or in the case of a
domestic nonlife insurer, an amount equal in the aggregate to more
than twenty percent (20%) of its assets in the shares of solvent
corporations created or existing under the laws of the United States
or of any state. Investing in the shares of mutual funds that
invest only in bonds or preferred stocks shall be considered as
investing in bonds or preferred stocks, and investing in mutual
funds that invest in common stocks shall be considered as investing
in common stocks. However, investments in the shares of
subsidiaries or companion insurance companies shall be governed by
Section 1652 of this title and this subsection shall not apply to
investments by domestic insurers in the shares of insurance
subsidiaries.
B. For the purpose of determining the investment limitation
imposed by this article, the insurer shall value securities
purchased pursuant to the provisions of this article at the cost of
the security or at the market value of the security, whichever is
lower.
domestic life insurer shall, in addition to other investments
permitted by this article, invest an amount equal in the aggregate
to more than ten percent (10%) of its assets, or in the case of a
domestic nonlife insurer, an amount equal in the aggregate to more
than twenty percent (20%) of its assets in the shares of solvent
corporations created or existing under the laws of the United States
or of any state. Investing in the shares of mutual funds that
invest only in bonds or preferred stocks shall be considered as
investing in bonds or preferred stocks, and investing in mutual
funds that invest in common stocks shall be considered as investing
in common stocks. However, investments in the shares of
subsidiaries or companion insurance companies shall be governed by
Section 1652 of this title and this subsection shall not apply to
investments by domestic insurers in the shares of insurance
subsidiaries.
B. For the purpose of determining the investment limitation
imposed by this article, the insurer shall value securities
purchased pursuant to the provisions of this article at the cost of
the security or at the market value of the security, whichever is
lower.
Status: in_force · Read it on the official government site
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