{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-1505","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-1505","heading":"Liabilities - Mandatory securities valuation reserves","body":"\n\nA. In any determination of the financial condition of an\n\ninsurer, capital stock and liabilities to be charged against its\n\nassets shall include:\n\n1. The amount of its capital stock outstanding, if any.\n\n2. The amount, estimated consistent with the provisions of this\n\nCode, necessary to pay all of its unpaid losses and claims incurred\n\non or prior to the date of statement, whether reported or\n\nunreported, together with the expenses of adjustment or settlement\n\nthereof.\n\n3. With reference to life and disability insurance and annuity\n\ncontracts:\n\n(a) The amount of reserves on life insurance policies and\n\nannuity contracts in force, valued according to the tables of\n\nmortality, rates of interest, and methods adopted pursuant to this\n\nCode which are applicable thereto,\n\n(b) Reserves for disability benefits, for both active and\n\ndisabled lives,\n\n(c) Reserves for accidental death benefits, and\n\n(d) Any additional reserves which may be required by the\n\nInsurance Commissioner consistent with practice formulated or\n\napproved by the National Association of Insurance Commissioners, on\n\naccount of such insurance.\n\n4. With reference to insurance other than specified in\n\nsubsection 3 this section, and other than title insurance, the\n\namount of reserves equal to the unearned portions of the gross\n\npremiums charged on policies in force, computed in accordance with\n\nthis article.\n\n5. Taxes, expenses and other obligations due or accrued at the\n\ndate of the statement.\n\nB. All life insurance companies and fraternal benefit societies\n\nshall establish and maintain mandatory securities valuation reserves\n\nin accordance with the guidelines established by the National\n\nAssociation of Insurance Commissioners. Life insurance companies\n\nwithout mandatory securities valuation reserves as of December 31,\n\n1989, shall begin accruing twenty percent (20%) of the mandatory\n\nsecurities value reserves per year and have reserves in accordance\n\nwith the required guidelines within five (5) years.","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":"2a9149049a4ae3c8c5a4fed9c596c98d457c5e24e82bf749dbd01c29697d496c","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-1504","next":"us-ok/okla.-stat.-tit.-36-36-1506"},"notice":"GroundRules: Original legal text. Not legal advice."}