Okla. Stat. tit. 36, § 36-2907
This is the official text of Okla. Stat. tit. 36, § 36-2907, 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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Surplus funds required
Official statutory text
A. A domestic reciprocal insurer hereunder formed, if it has
otherwise complied with the provisions of this Code, may be
authorized to transact insurance if it deposits and maintains on
deposit with the State Treasurer, through the office of the
Insurance Commissioner, surplus funds as follows:
1. To transact property insurance, surplus funds of not less
than One Hundred Thousand Dollars ($100,000.00).
2. To transact vehicle insurance, surplus funds of not less
than One Hundred Fifty Thousand Dollars ($150,000.00).
B. A domestic reciprocal insurer may be authorized to transact
additional kinds of insurance if it has otherwise complied with the
provisions of this Code therefor and possesses and so maintains on
deposit surplus funds in amount equal to the minimum capital
required of a stock insurer for authority to transact a like
combination of kinds of insurance.
otherwise complied with the provisions of this Code, may be
authorized to transact insurance if it deposits and maintains on
deposit with the State Treasurer, through the office of the
Insurance Commissioner, surplus funds as follows:
1. To transact property insurance, surplus funds of not less
than One Hundred Thousand Dollars ($100,000.00).
2. To transact vehicle insurance, surplus funds of not less
than One Hundred Fifty Thousand Dollars ($150,000.00).
B. A domestic reciprocal insurer may be authorized to transact
additional kinds of insurance if it has otherwise complied with the
provisions of this Code therefor and possesses and so maintains on
deposit surplus funds in amount equal to the minimum capital
required of a stock insurer for authority to transact a like
combination of kinds of insurance.
Status: in_force · Read it on the official government site
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