Okla. Stat. tit. 36, § 36-1625

securities; penalty.

A. Any personal property or securities lawfully acquired by an

insurer, which it could not otherwise have invested in or loaned its

funds upon at the time of such acquisition, shall be disposed of

within three (3) years from date of acquisition, unless within such

period the security has attained to the standard of eligibility; the

failure to make such disposition shall result in the disallowance of

such property as an asset in any statement by an insurer to the

Insurance Commissioner, in any published financial statement or in

any examiner's report to said Commissioner; provided, however, that

any security or property acquired under any agreement of bulk

reinsurance, merger, or consolidation may be retained for a longer

period than such three (3) years if so provided in such plan for the

reinsurance, merger, or consolidation as was approved by the

Insurance Commissioner pursuant to this Code. The Insurance

Commissioner, upon application and proof that forced sale of any

such property or security would be against the best interests of the

insurer, may extend the disposal period for an additional reasonable

time.

B. Any real property acquired in satisfaction of debt by an

insurer, which the insurer could not otherwise have invested in or

loaned funds upon at the time of such acquisition, shall be disposed

of within three (3) years from the date of such acquisition. The

Insurance Commissioner, upon application and proof that forced sale

of any such property would be against the best interests of the

insurer, may extend the disposal period for an additional reasonable

time.

C. Any such real or personal property or security held by an

insurer after expiration of the period for disposal thereof or any

extension of such period granted by the Insurance Commissioner shall

not be allowed as an asset of the insurer.