Oklahoma § 36-660.13 Foreign mutual insurance company — Reorganization

Oklahoma Statutes

§ 36-660.13 — Foreign mutual insurance company — Reorganization

Oklahoma § 36-660.13

Title 36Insurance

This text of Oklahoma § 36-660.13 (Foreign mutual insurance company — Reorganization) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 36, § 36-660.13 (2026).

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 requ

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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.