{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-1625","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-1625","heading":"Time limits for disposal of other ineligible property and","body":"securities; penalty.\n\nA. Any personal property or securities lawfully acquired by an\n\ninsurer, which it could not otherwise have invested in or loaned its\n\nfunds upon at the time of such acquisition, shall be disposed of\n\nwithin three (3) years from date of acquisition, unless within such\n\nperiod the security has attained to the standard of eligibility; the\n\nfailure to make such disposition shall result in the disallowance of\n\nsuch property as an asset in any statement by an insurer to the\n\nInsurance Commissioner, in any published financial statement or in\n\nany examiner's report to said Commissioner; provided, however, that\n\nany security or property acquired under any agreement of bulk\n\nreinsurance, merger, or consolidation may be retained for a longer\n\nperiod than such three (3) years if so provided in such plan for the\n\nreinsurance, merger, or consolidation as was approved by the\n\nInsurance Commissioner pursuant to this Code. The Insurance\n\nCommissioner, upon application and proof that forced sale of any\n\nsuch property or security would be against the best interests of the\n\ninsurer, may extend the disposal period for an additional reasonable\n\ntime.\n\nB. Any real property acquired in satisfaction of debt by an\n\ninsurer, which the insurer could not otherwise have invested in or\n\nloaned funds upon at the time of such acquisition, shall be disposed\n\nof within three (3) years from the date of such acquisition. The\n\nInsurance Commissioner, upon application and proof that forced sale\n\nof any such property would be against the best interests of the\n\ninsurer, may extend the disposal period for an additional reasonable\n\ntime.\n\nC. Any such real or personal property or security held by an\n\ninsurer after expiration of the period for disposal thereof or any\n\nextension of such period granted by the Insurance Commissioner shall\n\nnot be allowed as an asset of the insurer.","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":"728a2b019dda07b5a40936acc5a597f983d6590b04a255e2272f300d9285afca","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-1624","next":"us-ok/okla.-stat.-tit.-36-36-1626"},"notice":"GroundRules: Original legal text. Not legal advice."}