Okla. Stat. tit. 36, § 36-660.8: Converting insurer — Holding company formation — Rights

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.