Okla. Stat. tit. 36, § 36-660.9
This is the official text of Okla. Stat. tit. 36, § 36-660.9, 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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Proposed reorganization plan — Commissioner review as
Official statutory text
alternate conversion plan.
A. The Oklahoma Insurance Commissioner shall review the
proposed plan of reorganization as an alternate conversion plan.
The Commissioner may require as a condition of approval
modifications of the proposed plan of reorganization that the
Commissioner determines necessary to protect the members' interests.
B. The Commissioner may retain at the mutual insurance
company's expense, a qualified expert who is not a member of the
Commissioner's staff to assist the Commissioner in reviewing the
conversion plan and the valuation. If the Commissioner retains a
qualified expert under this subsection, the Commissioner may extend
the period for decision by an additional sixty (60) days beyond the
initial sixty-day period.
C. The Commissioner has jurisdiction over a mutual holding
company organized under this act to ensure that member interests are
protected.
A. The Oklahoma Insurance Commissioner shall review the
proposed plan of reorganization as an alternate conversion plan.
The Commissioner may require as a condition of approval
modifications of the proposed plan of reorganization that the
Commissioner determines necessary to protect the members' interests.
B. The Commissioner may retain at the mutual insurance
company's expense, a qualified expert who is not a member of the
Commissioner's staff to assist the Commissioner in reviewing the
conversion plan and the valuation. If the Commissioner retains a
qualified expert under this subsection, the Commissioner may extend
the period for decision by an additional sixty (60) days beyond the
initial sixty-day period.
C. The Commissioner has jurisdiction over a mutual holding
company organized under this act to ensure that member interests are
protected.
Status: in_force · Read it on the official government site
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