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2025 Oklahoma Statutes
Title 36. Insurance
§36-660.13. Foreign mutual insurance company — Reorganization requirements.

Universal Citation:
36 OK Stat § 660.13 (2025)
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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.

Added by Laws 2024, c. 194, § 13, eff. Nov. 1, 2024.

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