{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-2411","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-2411","heading":"Dues - Emergency fund - Additional assessments","body":"A. Every mutual benefit association doing business in this\n\nstate under the provisions hereof shall by its bylaws provide for\n\nthe payment by its members of sufficient dues to cover the expenses\n\nof conducting the business of such association and for such\n\nassessments as may be necessary to provide funds sufficient to pay\n\nthe benefits to which its members shall be come entitled and also to\n\nestablish an emergency fund of at least One Dollar ($1.00) per\n\nannum, per One Thousand Dollars ($1,000.00) death benefits with\n\nwhich to meet any unusual or unanticipated benefits or losses which\n\nmay become due and payable, which emergency fund shall be available\n\nfor use by the association as may be provided in its bylaws without\n\nregard to the group, class or circle whose members might have paid\n\nassessments therefor; provided, however, that two additional\n\nassessments for such emergency fund of at least One Dollar ($1.00)\n\nper One Thousand Dollars ($1,000.00) of death benefits shall be\n\nlevied annually in these circles, classes or groups where and when\n\nit may be done in any calendar month in which no death benefit\n\nassessment or call for dues is made upon members of such circle,\n\nclass or group; provided further, that such associations may pay\n\ndeath benefits in excess of seven per thousand in any such circle,\n\nclass or group when the emergency fund to its credit shall be\n\nsufficient therefor; and provided further, that if any annual report\n\nof a mutual benefit association, as provided for in this article or\n\nan investigation of the Insurance Commissioner discloses the fact\n\nthat the mortuary and emergency funds of such association will not\n\nbe sufficient to pay the benefits or losses to which its members or\n\ntheir beneficiaries may be entitled during the succeeding biennial\n\nperiod, the Insurance Commissioner, taking into consideration the\n\nage of the members and any special provisions for meeting such\n\nbenefits or losses or for replenishing its funds, may direct such\n\nassociation to make such additional assessments as may be necessary\n\nto meet the said benefits or losses during the succeeding biennial\n\nperiod. Out of the original membership fee charged every new member\n\nthere shall be placed in the mortuary or emergency fund a sum\n\nsufficient to equal at least one maximum benefit assessment to which\n\nsaid member would be liable under his contract. Whenever the\n\nassociation shall use any portion of the mortuary or benefit funds\n\nto pay promised benefits payable therefrom said association shall\n\nfor the purpose of replenishing, establishing or maintaining a\n\nmortuary or benefit fund of sufficient strength to enable the\n\nassociation to meet promptly all valid claims for benefit as they\n\nmature, levy an additional assessment or assessments for such fund;\n\nprovided that the association shall not be required to levy such\n\nassessment until in the judgment of the executive officers of such\n\nassociation such additional assessment is needed; provided, that\n\nassociations which have a table of rates that are sufficient to meet\n\nthe above requirements shall not be required to make the assessment\n\nprovided for herein, upon members whose benefit certificates are\n\nbased upon such rate table.\n\nB. The fund referenced in this section comprised of assessments\n\nupon the members of One Dollar ($1.00) per One Thousand Dollars\n\n($1,000.00) of death benefits need not be reported separately, but\n\nshall become a part of the general funds of the association provided\n\nbooks and records are kept on the collection and disbursement of\n\nsame.","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":"96b01fc29542f7af145890ed3056670fdb630544f8366e522e94334428ccbfb1","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-2410","next":"us-ok/okla.-stat.-tit.-36-36-2412"},"notice":"GroundRules: Original legal text. Not legal advice."}