{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-2119","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-2119","heading":"Nonassessable policies, mutual insurers","body":"A. While it maintains on deposit with the State Treasurer\n\nthrough the Insurance Commissioner surplus funds in amount not less\n\nthan the paid-in capital required of a domestic stock insurer\n\ntransacting like kinds of insurance, a domestic mutual insurer may\n\nextinguish the contingent liability of its members as to all\n\npolicies in force, and may omit provisions imposing contingent\n\nliability in all its policies currently issued.\n\nB. When such surplus funds have been so deposited and the\n\nCommissioner has so ascertained, he shall issue to the insurer at\n\nits request his certificate authorizing such extinguishment and\n\nomission of contingent liability.\n\nC. A foreign or alien mutual insurer may issue nonassessable\n\npolicies to its members in this state in accordance with its charter\n\nand the laws of its domicile, provided the standards and\n\nrequirements of the laws of the state of such domicile with respect\n\nto the issuance of nonassessable policies are substantially\n\nequivalent to or higher than the legal requirements in Oklahoma.","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":"b85f508d2f45182fefb04eb45f311efb0e1969ebfed46dff161617b90681898c","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-2116","next":"us-ok/okla.-stat.-tit.-36-36-2120"},"notice":"GroundRules: Original legal text. Not legal advice."}