Okla. Stat. tit. 36, § 36-2714.1

This is the official text of Okla. Stat. tit. 36, § 36-2714.1, 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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Consolidations and mergers

Official statutory text

A. A domestic society may consolidate or merge with any other

society by complying with the provisions of this section. It shall

file with the Insurance Commissioner:

1. A certified copy of the written contract containing in full

the terms and conditions of the consolidation or merger;

2. A sworn statement by the president and secretary or

corresponding officers of each society showing the financial

condition thereof on a date fixed by the Commissioner but not

earlier than December 31 next preceding the date of the contract;

3. A certificate of such officers, duly verified by their

respective oaths, that the consolidation or merger has been approved

by a two-thirds (2/3) vote of the supreme governing body of each

society, such vote being conducted at a regular or special meeting

of each such body, or, if the society's laws so permit, by mail; and

4. Evidence that at least sixty (60) days prior to the action

of the supreme governing body of each society, the text of the

contract has been furnished to all members of each society either by

mail or by publication in full in the official publication of each

society.

B. If the Commissioner finds that the contract is in conformity

with the provisions of this section, that the financial statements

are correct and that the consolidation or merger is just and

equitable to the members of each society, the Commissioner shall

approve the contract and issue a certificate to such effect. Upon

approval, the contract shall be in full force and effect unless any

society which is a party to the contract is incorporated under the

laws of any other state or territory. In such event the

consolidation or merger shall not become effective unless and until

it has been approved as provided by the laws of such state or

territory and a certificate of the approval is filed with the

Commissioner of this state or, if the laws of such state or

territory contain no such provision, then the consolidation or

merger shall not become effective unless and until it has been

approved by the Commissioner of such state or territory and a

Oklahoma Statutes - Title 36. Insurance Page 721

certificate of approval filed with the Commissioner of this state.

In case the contract is not approved it shall be inoperative, and

the fact of the submission and its contents shall not be disclosed

by the Commissioner.

C. Upon the consolidation or merger becoming effective as

herein provided, all the rights, franchises and interests of the

consolidated or merged societies in and to every species of

property, real, personal or mixed, and things in action thereunto

belonging shall be vested in the society resulting from or remaining

after the consolidation or merger without any other instrument,

except that conveyances of real property may be evidenced by proper

deeds, and the title to any real estate or interest therein, vested

under the laws of this state in any of the societies consolidated or

merged, shall not revert or be in any way impaired by reason of the

consolidation or merger, but shall vest absolutely in the society

resulting from or remaining after such consolidation or merger.

D. The affidavit of any officer of the society or of anyone

authorized by it to mail any notice or document, stating that such

notice or document has been duly addressed and mailed, shall be

prima facie evidence that such notice or document has been furnished

the addressees.

Status: in_force · Read it on the official government site

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About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.