{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-2714.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-2714.1","heading":"Consolidations and mergers","body":"A. A domestic society may consolidate or merge with any other\n\nsociety by complying with the provisions of this section. It shall\n\nfile with the Insurance Commissioner:\n\n1. A certified copy of the written contract containing in full\n\nthe terms and conditions of the consolidation or merger;\n\n2. A sworn statement by the president and secretary or\n\ncorresponding officers of each society showing the financial\n\ncondition thereof on a date fixed by the Commissioner but not\n\nearlier than December 31 next preceding the date of the contract;\n\n3. A certificate of such officers, duly verified by their\n\nrespective oaths, that the consolidation or merger has been approved\n\nby a two-thirds (2/3) vote of the supreme governing body of each\n\nsociety, such vote being conducted at a regular or special meeting\n\nof each such body, or, if the society's laws so permit, by mail; and\n\n4. Evidence that at least sixty (60) days prior to the action\n\nof the supreme governing body of each society, the text of the\n\ncontract has been furnished to all members of each society either by\n\nmail or by publication in full in the official publication of each\n\nsociety.\n\nB. If the Commissioner finds that the contract is in conformity\n\nwith the provisions of this section, that the financial statements\n\nare correct and that the consolidation or merger is just and\n\nequitable to the members of each society, the Commissioner shall\n\napprove the contract and issue a certificate to such effect. Upon\n\napproval, the contract shall be in full force and effect unless any\n\nsociety which is a party to the contract is incorporated under the\n\nlaws of any other state or territory. In such event the\n\nconsolidation or merger shall not become effective unless and until\n\nit has been approved as provided by the laws of such state or\n\nterritory and a certificate of the approval is filed with the\n\nCommissioner of this state or, if the laws of such state or\n\nterritory contain no such provision, then the consolidation or\n\nmerger shall not become effective unless and until it has been\n\napproved by the Commissioner of such state or territory and a\n\ncertificate of approval filed with the Commissioner of this state.\n\nIn case the contract is not approved it shall be inoperative, and\n\nthe fact of the submission and its contents shall not be disclosed\n\nby the Commissioner.\n\nC. Upon the consolidation or merger becoming effective as\n\nherein provided, all the rights, franchises and interests of the\n\nconsolidated or merged societies in and to every species of\n\nproperty, real, personal or mixed, and things in action thereunto\n\nbelonging shall be vested in the society resulting from or remaining\n\nafter the consolidation or merger without any other instrument,\n\nexcept that conveyances of real property may be evidenced by proper\n\ndeeds, and the title to any real estate or interest therein, vested\n\nunder the laws of this state in any of the societies consolidated or\n\nmerged, shall not revert or be in any way impaired by reason of the\n\nconsolidation or merger, but shall vest absolutely in the society\n\nresulting from or remaining after such consolidation or merger.\n\nD. The affidavit of any officer of the society or of anyone\n\nauthorized by it to mail any notice or document, stating that such\n\nnotice or document has been duly addressed and mailed, shall be\n\nprima facie evidence that such notice or document has been furnished\n\nthe addressees.","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":"6cba3b02d2afade2f10aee3019d4beef2c3c750ba5a45f1e10895a32a41a0ecf","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-2713.1","next":"us-ok/okla.-stat.-tit.-36-36-2715.1"},"notice":"GroundRules: Original legal text. Not legal advice."}