Okla. Stat. tit. 36, § 36-2503
This is the official text of Okla. Stat. tit. 36, § 36-2503, 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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Certificate of authority to do business - Deposit of
Official statutory text
securities with State Treasurer.
No such corporation, company or association shall commence the
business of insurance until the Insurance Commissioner shall have
certified that it has complied with the provisions of this article,
and is authorized to transact the business of insurance; provided,
however, that every corporation incorporating or reincorporating
under the provisions of this article shall deposit with the
Commissioner securities in which insurance companies are allowed by
law to invest, subject to the approval of the Insurance
Commissioner, a sum not less than Twenty Thousand Dollars
($20,000.00), before it shall commence business. The sum shall be
a part of the insurance fund and an asset of the corporation. The
securities deposited with the Commissioner pursuant to this section
Oklahoma Statutes - Title 36. Insurance Page 677
shall be held in trust as an emergency fund for the benefit and
protection of and as security for the policyholders of such
corporation, their legal representatives and beneficiaries.
No such corporation, company or association shall commence the
business of insurance until the Insurance Commissioner shall have
certified that it has complied with the provisions of this article,
and is authorized to transact the business of insurance; provided,
however, that every corporation incorporating or reincorporating
under the provisions of this article shall deposit with the
Commissioner securities in which insurance companies are allowed by
law to invest, subject to the approval of the Insurance
Commissioner, a sum not less than Twenty Thousand Dollars
($20,000.00), before it shall commence business. The sum shall be
a part of the insurance fund and an asset of the corporation. The
securities deposited with the Commissioner pursuant to this section
Oklahoma Statutes - Title 36. Insurance Page 677
shall be held in trust as an emergency fund for the benefit and
protection of and as security for the policyholders of such
corporation, their legal representatives and beneficiaries.
Status: in_force · Read it on the official government site
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