{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-2133","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-2133","heading":"Mergers and consolidations, mutual insurers","body":"A. A domestic mutual insurer shall not merge or consolidate\n\nwith a stock insurer.\n\nB. A domestic mutual insurer may merge or consolidate with\n\nanother mutual insurer in accordance with procedures prescribed by\n\ngeneral laws applying to corporations formed for profit, except as\n\nhereinbelow provided.\n\nC. The plan and agreement for merger or consolidation shall be\n\nsubmitted to and approved by at least two-thirds (2/3) of the\n\nmembers of each mutual insurer involved voting thereon at meetings\n\ncalled for the purpose pursuant to such reasonable notice and\n\nprocedure as has been approved by the Commissioner.\n\nD. No such merger or consolidation shall be effectuated unless\n\nin advance thereof the plan and agreement therefor have been filed\n\nwith and approved in writing by the Insurance Commissioner. The\n\nCommissioner shall give such approval within a reasonable time after\n\nsuch filing unless he finds such plan or agreement:\n\n1. Inequitable to the policyholders of any domestic insurer\n\ninvolved; or\n\n2. Would substantially reduce the security of and service to be\n\nrendered to policyholders of the domestic insurer in Oklahoma or\n\nelsewhere.\n\nE. If the Commissioner does not approve such plan or agreement,\n\nhe shall so notify the insurer in writing, specifying his reasons\n\ntherefor.","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":"bdacc0e78d1fe4d00024782c58134ed40ee366aa4836009f1458f024efba5cc3","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-2132","next":"us-ok/okla.-stat.-tit.-36-36-2134"},"notice":"GroundRules: Original legal text. Not legal advice."}