{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-1501","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-1501","heading":"\"Assets\" defined","body":"In any determination of the financial condition of an insurer,\n\nthere shall be allowed as assets only such assets as are owned by\n\nthe insurer and which consist of:\n\n1. Cash in the possession of the insurer, or in transit under\n\nits control, and including the true balance of any deposit in a\n\nsolvent bank or trust company.\n\n2. Investments, securities, properties and loans acquired or\n\nheld in accordance with this Code, and in connection therewith the\n\nfollowing items:\n\n(a) Interest due or accrued on any bond or evidence of\n\nindebtedness which is not in default and which is not valued on a\n\nbasis including accrued interest.\n\n(b) Declared and unpaid dividends on stock and shares, unless\n\nsuch amount has otherwise been allowed as an asset.\n\n(c) Interest due or accrued upon a collateral loan in an amount\n\nnot to exceed one (1) year's interest thereon.\n\n(d) Interest due or accrued on deposits in solvent banks and\n\ntrust companies, and interest due or accrued on other assets, if\n\nsuch interest is in the judgment of the Insurance Commissioner a\n\ncollectible asset.\n\n(e) Interest due or accrued on a mortgage loan, in an amount not\n\nexceeding in any event the amount, if any, of the excess of the\n\nvalue of the property less delinquent taxes thereon over the unpaid\n\nprincipal; but in no event shall interest accrued for a period in\n\nexcess of eighteen (18) months be allowed as an asset.\n\n(f) Rent due or accrued on real property if such rent is not in\n\narrears for more than three (3) months, and rent more than three (3)\n\nmonths in arrears if the payment of such rent be adequately secured\n\nby property held in the name of the tenant and conveyed to the\n\ninsurer as collateral.\n\n(g) The unaccrued portion of taxes paid prior to the due date on\n\nreal property.\n\n3. Premium notes, policy loans, and other policy assets and\n\nliens on policies and certificates of life insurance and annuity\n\ncontracts and accrued interest thereon, in an amount not exceeding\n\nthe legal reserve and other policy liabilities carried on each\n\nindividual policy.\n\n4. The net amount of uncollected and deferred premiums and\n\nannuity considerations in the case of a life insurer.\n\n5. Premiums in the course of collection, other than for life\n\ninsurance, not more than three (3) months past due, less commissions\n\npayable thereon. The foregoing limitation shall not apply to\n\npremiums payable directly or indirectly by the United States\n\ngovernment or by any of its instrumentalities.\n\n6. Installment premiums other than life insurance premiums to\n\nthe extent of the unearned premium reserves carried thereon.\n\n7. Notes and like written obligations not past due, taken for\n\npremiums other than life insurance premiums, on policies permitted\n\nto be issued on such basis, to the extent of the unearned premium\n\nreserves carried thereon.\n\n8. The full amount of reinsurance recoverable by a ceding\n\ninsurer from a solvent reinsurer and which reinsurance is authorized\n\nunder Section 711 of Article 7 (Kinds of Insurance; Reinsurance;\n\nLimits of Risk).\n\n9. Amounts receivable by an assuming insurer representing funds\n\nwithheld by a solvent ceding insurer under a reinsurance treaty.\n\n10. Deposits or equities recoverable from underwriting\n\nassociations, syndicates and reinsurance funds, or from any\n\nsuspended banking institution, to the extent deemed by the Insurance\n\nCommissioner available for the payment of losses and claims and at\n\nvalues to be determined by him.\n\n11. All assets, whether or not consistent with the provisions\n\nof this section, as may be allowed pursuant to the annual statement\n\nform approved by the national association of insurance commissioners\n\nfor the kinds of insurance to be reported upon therein.\n\n12. Rebates determined and accrued pursuant to Section 2 of\n\nthis act.\n\n13. Other assets, not inconsistent with the provisions of this\n\nsection, deemed by the Insurance Commissioner to be available for\ns\n\nof this section, as may be allowed pursuant to the annual statement\n\nform approved by the national association of insurance commissioners\n\nfor the kinds of insurance to be reported upon therein.\n\n12. Rebates determined and accrued pursuant to Section 2 of\n\nthis act.\n\n13. Other assets, not inconsistent with the provisions of this\n\nsection, deemed by the Insurance Commissioner to be available for\n\nthe payment of losses and claims, at values to be determined by the\n\nCommissioner.","path":["OK Code","Title 36"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os36.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"0448f0bd46b4ddc84a1a4aae44dde7e4a4d35c31fa66804f36c5f25f463f91ee","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-1478","next":"us-ok/okla.-stat.-tit.-36-36-1502"},"notice":"GroundRules: Original legal text. Not legal advice."}