{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-1696","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-1696","heading":"Creditors of protected cells – Obligation of protected","body":"cell company.\n\nA. 1. Protected cell assets shall only be available to the\n\ncreditors of the protected cell company that are creditors in\n\nrespect to that protected cell and shall be entitled, in conformity\n\nwith the provisions of the Protected Cell Companies Act, to have\n\nrecourse to the protected cell assets attributable to that protected\n\ncell, and shall be absolutely protected from the creditors of the\n\nprotected cell company that are not creditors in respect of that\n\nprotected cell and, who accordingly, shall not be entitled to have\n\nrecourse to the protected cell assets attributable to that protected\n\ncell. Creditors, with respect to a protected cell, shall not be\n\nentitled to have recourse against the protected cell assets of other\n\nprotected cells or the assets of the protected cell company's\n\ngeneral account.\n\n2. Protected cell assets shall only be available to creditors\n\nof a protected cell company after all protected cell liabilities\n\nhave been extinguished or provided for in accordance with the plan\n\nof operation relating to that protected cell.\n\nB. When an obligation of a protected cell company to a person\n\narises from a transaction, or is imposed, with respect to a\n\nprotected cell:\n\n1. That obligation of the protected cell company shall extend\n\nonly to the protected cell assets attributable to that protected\n\ncell, and the person shall, with respect to that obligation, be\n\nentitled to have recourse only to the protected cell assets\n\nattributable to that protected cell; and\n\n2. That obligation of the company shall not extend to the\n\nprotected cell assets of any other protected cell or the assets of\n\nthe protected cell company's general account, and that person shall\n\nnot, with respect to that obligation, be entitled to have recourse\n\nto the protected cell assets of any other protected cell or the\n\nassets of the protected cell company's general account.\n\nC. When an obligation of a protected cell company relates\n\nsolely to the general account, the obligation of the protected cell\n\ncompany shall extend only to, and that creditor shall, with respect\n\nto that obligation, be entitled to have recourse only to, the assets\n\nof the protected cell company's general account.\n\nD. Other than with regard to the application of this section,\n\nthe activities, assets and obligations relating to a protected cell\n\nare not subject to the provisions of Articles 20A and 20B of Title\n\n36 of the Oklahoma Statutes. Neither a protected cell nor a\n\nprotected cell company shall be assessed by or be required to\n\ncontribute to any guaranty fund or guaranty association in this\n\nstate with respect to the activities, assets or obligations of a\n\nprotected cell. Nothing in this section shall affect the activities\n\nor obligations of an insurer's general account.\n\nE. In no event shall the establishment of one or more protected\n\ncells alone constitute or be deemed to be a fraudulent conveyance,\n\nan intent by the protected cell company to defraud creditors, or the\n\ncarrying out of business by the protected cell company for any other\n\nfraudulent purpose.","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":"4afd8ab71224f23c53536fd9e5251b2f16cca0b8f6f5658129c6de5cf8be0c6c","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-1695","next":"us-ok/okla.-stat.-tit.-36-36-1697"},"notice":"GroundRules: Original legal text. Not legal advice."}