Okla. Stat. tit. 36, § 36-2110
This is the official text of Okla. Stat. tit. 36, § 36-2110, 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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Formation of mutuals; trust deposit of premiums; issuance
Official statutory text
of policies.
A. All sums collected by a domestic mutual corporation as
premiums and fees on qualifying applications for insurance therein
shall be deposited in trust in an Oklahoma bank or trust company
under a written agreement consistent with this section and with
paragraph 3 of subsection C of Section 2109 of this article. The
corporation shall file an executed copy of such trust agreement with
the Commissioner.
B. Upon issuance to the corporation of a certificate of
authority as an insurer for the kind of insurance for which such
applications were solicited, all funds so held in trust shall become
the funds of the insurer, and the insurer shall forthwith issue and
deliver its policies for which premiums had been paid and accepted.
The insurance provided by such policies shall be effective as of the
date of the certificate of authority.
Oklahoma Statutes - Title 36. Insurance Page 628
A. All sums collected by a domestic mutual corporation as
premiums and fees on qualifying applications for insurance therein
shall be deposited in trust in an Oklahoma bank or trust company
under a written agreement consistent with this section and with
paragraph 3 of subsection C of Section 2109 of this article. The
corporation shall file an executed copy of such trust agreement with
the Commissioner.
B. Upon issuance to the corporation of a certificate of
authority as an insurer for the kind of insurance for which such
applications were solicited, all funds so held in trust shall become
the funds of the insurer, and the insurer shall forthwith issue and
deliver its policies for which premiums had been paid and accepted.
The insurance provided by such policies shall be effective as of the
date of the certificate of authority.
Oklahoma Statutes - Title 36. Insurance Page 628
Status: in_force · Read it on the official government site
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