{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-2135","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-2135","heading":"Mutual member's share of assets on liquidation","body":"A. Upon any liquidation of a domestic mutual insurer, its\n\nassets remaining after discharge of its indebtedness, policy\n\nobligations, repayment of contributed or borrowed surplus, if any,\n\nand expenses of administration, shall be distributed to existing\n\npersons who were its members at any time within thirty-six (36)\n\nmonths next preceding the date such liquidation was authorized or\n\nordered, or date of last termination of the insurer's certificate of\n\nauthority, whichever date is the earliest.\n\nB. The distributive share of each such member shall be in the\n\nproportion that the aggregate premiums earned by the insurer on the\n\npolicies of the member during the combined periods of his membership\n\nbear to the aggregate of all premiums so earned on the policies of\n\nall such members. The insurer may make a reasonable classification\n\nof its policies so held by such members and a formula based upon\n\nsuch classification for determining the equitable distributive share\n\nof each such member. Such classification and formula shall be\n\nsubject to the approval of the Commissioner.\n\nC. Subsections A and B above shall not apply to any mutual\n\nwhich, prior to July 1, 1957, has provided for any other method of\n\nliquidation through its articles and bylaws, and which have been\n\napproved by the then Insurance Commissioner.","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":"a7e2b0e2544c47da1c65603a33fcd9936fcc260d710a1d2c6e1a3b9b3b9df7cb","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-2134","next":"us-ok/okla.-stat.-tit.-36-36-2201"},"notice":"GroundRules: Original legal text. Not legal advice."}