Okla. Stat. tit. 36, § 36-2037
This is the official text of Okla. Stat. tit. 36, § 36-2037, 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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Distribution of ownership rights of impaired or insolvent
Official statutory text
insurer.
A. Prior to the termination of any liquidation, rehabilitation,
receivership orconservatorship proceeding, the court may take into
consideration the contributions of the respective parties, including
the Association, the shareholders and the policyowners of the
insolvent insurer, and any other party with a bona fide interest, in
making an equitable distribution of the ownership rights of such
insolvent insurer. In such a determination, consideration shall be
given to the welfare of the policyholders of the continuing or
successor insurer.
B. No distribution to stockholders, if any, of an impaired or
insolvent insurer shall be made until and unless the total valid
Oklahoma Statutes - Title 36. Insurance Page 620
claims of the Association for funds expended in carrying out its
powers and duties under Section 8 of this act with respect to such
insurer have been fully recovered by the Association.
A. Prior to the termination of any liquidation, rehabilitation,
receivership orconservatorship proceeding, the court may take into
consideration the contributions of the respective parties, including
the Association, the shareholders and the policyowners of the
insolvent insurer, and any other party with a bona fide interest, in
making an equitable distribution of the ownership rights of such
insolvent insurer. In such a determination, consideration shall be
given to the welfare of the policyholders of the continuing or
successor insurer.
B. No distribution to stockholders, if any, of an impaired or
insolvent insurer shall be made until and unless the total valid
Oklahoma Statutes - Title 36. Insurance Page 620
claims of the Association for funds expended in carrying out its
powers and duties under Section 8 of this act with respect to such
insurer have been fully recovered by the Association.
Status: in_force · Read it on the official government site
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