Okla. Stat. tit. 36, § 36-2113
This is the official text of Okla. Stat. tit. 36, § 36-2113, 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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Bylaws of mutual
Official statutory text
A. The initial board of directors of a domestic mutual insurer
shall adopt original bylaws for the government of the corporation
and conduct of its business. Such bylaws shall be subject to the
approval of the insurer's members at the next succeeding annual
meeting of members, and no bylaw provision shall thereafter be
effective which is not so approved. Bylaws shall be revoked or
modified only by two-thirds (2/3) favorable vote of the insurer's
Oklahoma Statutes - Title 36. Insurance Page 629
members voting either in person or by proxy at a meeting of which
notice was given as provided in the bylaws.
B. The bylaws shall provide that each member of the insurer is
entitled to one vote in the election of corporate directors and on
all matters coming before membership meetings, and that such vote
may be exercised in person or by proxy.
C. The insurer shall promptly file with the Commissioner a
copy, certified by the insurer's secretary, of such bylaws and of
every modification thereof or of addition thereto. The Commissioner
shall disapprove any bylaw provision deemed by him to be unlawful.
The insurer shall not, after receiving written notice of such
disapproval and during the existence thereof, effectuate any bylaw
provision so disapproved; provided, however, such disapproval shall
constitute an order from which an appeal will lie, and such appeal
may be perfected in such manner as is provided by this Code.
shall adopt original bylaws for the government of the corporation
and conduct of its business. Such bylaws shall be subject to the
approval of the insurer's members at the next succeeding annual
meeting of members, and no bylaw provision shall thereafter be
effective which is not so approved. Bylaws shall be revoked or
modified only by two-thirds (2/3) favorable vote of the insurer's
Oklahoma Statutes - Title 36. Insurance Page 629
members voting either in person or by proxy at a meeting of which
notice was given as provided in the bylaws.
B. The bylaws shall provide that each member of the insurer is
entitled to one vote in the election of corporate directors and on
all matters coming before membership meetings, and that such vote
may be exercised in person or by proxy.
C. The insurer shall promptly file with the Commissioner a
copy, certified by the insurer's secretary, of such bylaws and of
every modification thereof or of addition thereto. The Commissioner
shall disapprove any bylaw provision deemed by him to be unlawful.
The insurer shall not, after receiving written notice of such
disapproval and during the existence thereof, effectuate any bylaw
provision so disapproved; provided, however, such disapproval shall
constitute an order from which an appeal will lie, and such appeal
may be perfected in such manner as is provided by this Code.
Status: in_force · Read it on the official government site
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