Okla. Stat. tit. 36, § 36-660.13
This is the official text of Okla. Stat. tit. 36, § 36-660.13, 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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Foreign mutual insurance company — Reorganization
Official statutory text
requirements.
A. On the approval of the Oklahoma Insurance Commissioner, a
foreign mutual insurance company may reorganize in compliance with
the requirements of any law or regulation applicable to the foreign
mutual insurance company by:
1. Transferring its members' membership interests into a mutual
holding company formed under a procedure analogous to that described
by this act; and
2. Continuing the corporate existence of the reorganizing
foreign mutual insurance company as a foreign stock insurance
company subsidiary of the mutual holding company.
B. The reorganizing foreign mutual insurance company may remain
a foreign company and may be admitted to do business in this state.
A foreign mutual insurance company may also redomesticate in this
state by complying with the applicable requirements of Section 606.1
of Title 36 of the Oklahoma Statutes.
A. On the approval of the Oklahoma Insurance Commissioner, a
foreign mutual insurance company may reorganize in compliance with
the requirements of any law or regulation applicable to the foreign
mutual insurance company by:
1. Transferring its members' membership interests into a mutual
holding company formed under a procedure analogous to that described
by this act; and
2. Continuing the corporate existence of the reorganizing
foreign mutual insurance company as a foreign stock insurance
company subsidiary of the mutual holding company.
B. The reorganizing foreign mutual insurance company may remain
a foreign company and may be admitted to do business in this state.
A foreign mutual insurance company may also redomesticate in this
state by complying with the applicable requirements of Section 606.1
of Title 36 of the Oklahoma Statutes.
Status: in_force · Read it on the official government site
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