Okla. Stat. tit. 36, § 36-660.8
This is the official text of Okla. Stat. tit. 36, § 36-660.8, 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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Converting insurer — Holding company formation — Rights
Official statutory text
and obligations.
A. A converting company, on approval by the Oklahoma Insurance
Commissioner, may reorganize by forming a holding company based on a
mutual plan and continuing the corporate existence of the converting
company as a stock insurance company.
B. A mutual holding company is automatically a party to an
administrative proceeding under Oklahoma Statute involving an
insurance company that, as a result of a reorganization under this
act, is a subsidiary of the mutual holding company. In a proceeding
involving the resulting company, the assets of the mutual holding
company are considered assets of the resulting company for purposes
of satisfying the claims of the resulting company's policyholders.
C. A mutual holding company may not dissolve or liquidate
without the approval of the Commissioner.
D. A mutual holding company may convert to a stock holding
company under this act as if the mutual holding company were a
mutual insurance company.
A. A converting company, on approval by the Oklahoma Insurance
Commissioner, may reorganize by forming a holding company based on a
mutual plan and continuing the corporate existence of the converting
company as a stock insurance company.
B. A mutual holding company is automatically a party to an
administrative proceeding under Oklahoma Statute involving an
insurance company that, as a result of a reorganization under this
act, is a subsidiary of the mutual holding company. In a proceeding
involving the resulting company, the assets of the mutual holding
company are considered assets of the resulting company for purposes
of satisfying the claims of the resulting company's policyholders.
C. A mutual holding company may not dissolve or liquidate
without the approval of the Commissioner.
D. A mutual holding company may convert to a stock holding
company under this act as if the mutual holding company were a
mutual insurance company.
Status: in_force · Read it on the official government site
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