Oklahoma § 36-1605 Investments in any one person.

Oklahoma Statutes

§ 36-1605 — Investments in any one person.

Oklahoma·Title 36 Insurance

An insurer shall not, except with the consent of the Insurance Commissioner, have at any one time any combination of checking account moneys, investments in or loans upon the security of the obligations, property, or securities of any one person, institution, corporation, or municipal corporation, aggregating an amount exceeding ten percent (10%) of the insurer's admitted assets. This restriction shall not apply to investments in or loans upon the security of general obligations of the United States or any state of the United States or include policy loans made under Section 1619 of this title, or investments made under Section 1616 of this title.

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An insurer shall not, except with the consent of the Insurance Commissioner, have at any one time any combination of checking account moneys, investments in or loans upon the security of the obligations, property, or securities of any one person, institution, corporation, or municipal corporation, aggregating an amount exceeding ten percent (10%) of the insurer's admitted assets. This restriction shall not apply to investments in or loans upon the security of general obligations of the United States or any state of the United States or include policy loans made under Section 1619 of this title, or investments made under Section 1616 of this title.

Oklahoma § 36-1605 (Investments in any one person.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Added by Laws 1957, p. 286, § 1605, operative July 1, 1957. Amended by Laws 1965, c. 123, § 4; Laws 1967, c. 242, § 3, emerg. eff. May 5, 1967; Laws 1984, c. 149, § 6, eff. Nov. 1, 1984; Laws 2018, c. 95, § 5, eff. Nov. 1, 2018.