{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-1603","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-1603","heading":"Qualification of securities or property as eligible","body":"investments.\n\nA. No security or investment (other than property or shares\n\nacquired pursuant to Sections 1612, 1616 or 1624 of this article)\n\nshall be eligible for acquisition unless it is interest bearing or\n\ninterest accruing or dividend or income paying, is not then in\n\ndefault in any respect, and the insurer is entitled to receive for\n\nits exclusive account and benefit the interest or income accruing\n\nthereon. Defaults in interest or income occurring subsequent to\n\nacquisition of an investment shall not affect allowance thereof as\n\nan asset.\n\nB. No security or investment shall be eligible for purchase at\n\na price above its market value.\n\nC. No provision of this article shall prohibit the acquisition\n\nby an insurer of other or additional securities or property if\n\nreceived as a dividend or as a lawful distribution of assets, or if\n\nacquired pursuant to a lawful and bona fide agreement of bulk\n\nreinsurance, merger, or consolidation. Any investment so acquired\n\nthrough bulk reinsurance, merger, or consolidation, which is not\n\notherwise eligible under this article, shall be disposed of pursuant\n\nto Section 1625 of this article.","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":"e6ddcc0e5f8d7d1ecc3392514a5568886ded5f3986fcd0b41b04a945f277cca1","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-1602","next":"us-ok/okla.-stat.-tit.-36-36-1604"},"notice":"GroundRules: Original legal text. Not legal advice."}