Okla. Stat. tit. 36, § 36-2422
This is the official text of Okla. Stat. tit. 36, § 36-2422, 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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Creditors' rights; liens; contracts; pending suits
Official statutory text
The rights of creditors and all liens upon the property of the
former mutual benefit association shall be preserved unimpaired and
all debts, liabilities, contracts and duties of the former mutual
benefit association shall thenceforth attach to the reorganized and
converted organization, and such reorganized and converted
corporation shall be obligated to carry out and perform all of the
obligations of every kind and character owing by the former mutual
benefit association to the holders of its policies or certificates;
and said policies or certificates shall be administered in
accordance with the provisions of the law in force at the time said
policies were issued. Any pending suits wherein the former mutual
benefit association was a party shall be unaffected by the
conversion thereof, and shall be prosecuted by or against such
reorganized and converted corporation the same as if the conversion
had not taken place.
former mutual benefit association shall be preserved unimpaired and
all debts, liabilities, contracts and duties of the former mutual
benefit association shall thenceforth attach to the reorganized and
converted organization, and such reorganized and converted
corporation shall be obligated to carry out and perform all of the
obligations of every kind and character owing by the former mutual
benefit association to the holders of its policies or certificates;
and said policies or certificates shall be administered in
accordance with the provisions of the law in force at the time said
policies were issued. Any pending suits wherein the former mutual
benefit association was a party shall be unaffected by the
conversion thereof, and shall be prosecuted by or against such
reorganized and converted corporation the same as if the conversion
had not taken place.
Status: in_force · Read it on the official government site
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