Okla. Stat. tit. 36, § 36-2121
This is the official text of Okla. Stat. tit. 36, § 36-2121, 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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Participating policies
Official statutory text
A. If so provided in its articles of incorporation, a domestic
stock or domestic mutual insurer may issue any or all of its
policies with or without participation in profits, savings, or
unabsorbed portions of premiums, may classify policies issued on a
participating or nonparticipating basis, and may determine the right
to participate and the extent of participation of any class or
classes of policies. Any such classification or determination shall
be reasonable, and shall not unfairly discriminate as between
policyholders within the same such classification. A life insurer
may issue both participating and nonparticipating policies only if
Oklahoma Statutes - Title 36. Insurance Page 631
the right or absence of right to participate is reasonably related
to the premium charged.
B. No dividend, otherwise earned, shall be made contingent upon
the payment of renewal premium on any policy.
stock or domestic mutual insurer may issue any or all of its
policies with or without participation in profits, savings, or
unabsorbed portions of premiums, may classify policies issued on a
participating or nonparticipating basis, and may determine the right
to participate and the extent of participation of any class or
classes of policies. Any such classification or determination shall
be reasonable, and shall not unfairly discriminate as between
policyholders within the same such classification. A life insurer
may issue both participating and nonparticipating policies only if
Oklahoma Statutes - Title 36. Insurance Page 631
the right or absence of right to participate is reasonably related
to the premium charged.
B. No dividend, otherwise earned, shall be made contingent upon
the payment of renewal premium on any policy.
Status: in_force · Read it on the official government site
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