{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-2730.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-2730.1","heading":"Injunction, liquidation or receivership of domestic","body":"society.\n\nA. When the Insurance Commissioner upon investigation finds\n\nthat a domestic society:\n\n1. Has exceeded its powers;\n\n2. Has failed to comply with any provision of this article;\n\n3. Is not fulfilling its contracts in good faith;\n\n4. Has a membership of less than four hundred after an\n\nexistence of one (1) year or more; or\n\n5. Is conducting business fraudulently or in a manner hazardous\n\nto its members, creditors, the public or the business;\n\nthe Commissioner shall notify the society of such deficiency or\n\ndeficiencies and state in writing the reasons for his or her\n\ndissatisfaction. The Commissioner shall at once issue a written\n\nnotice to the society requiring that the deficiency or deficiencies\n\nbe corrected. After such notice, the society shall have a thirty-\n\nday period in which to comply with the Commissioner's request for\n\ncorrection. If the society fails to comply with such request, the\n\nCommissioner shall notify the society of such findings of\n\nnoncompliance and require the society to show cause on a date named\n\nwhy it should not be enjoined from carrying on any business until\n\nthe violation complained of shall have been corrected, or why an\n\naction in the nature of quo warranto should not be commenced against\n\nthe society.\n\nB. If on such date the society does not present good and\n\nsufficient reasons why it should not be so enjoined or why such\n\naction should not be commenced, the Commissioner may present the\n\nfacts relating thereto to the Attorney General who shall, if he or\n\nshe deems the circumstances warrant, commence an action to enjoin\n\nthe society from transacting business or an action in the nature of\n\nquo warranto.\n\nC. The court shall thereupon notify the officers of the society\n\nof a hearing. If, after a full hearing, it appears that the society\n\nshould be so enjoined or liquidated or a receiver appointed, the\n\ncourt shall enter the necessary order. No society so enjoined shall\n\nhave the authority to do business until:\n\n1. The Commissioner finds that the violation complained of has\n\nbeen corrected;\n\n2. The costs of such action shall have been paid by the society\n\nif the court finds that the society was in default as charged;\n\n3. The court has dissolved its injunction; and\n\n4. The Commissioner has reinstated the certificate of\n\nauthority.\n\nD. If the court orders the society liquidated, it shall be\n\nenjoined from carrying on any further business, whereupon the\n\nreceiver of the society shall proceed at once to take possession of\n\nthe books, papers, money and other assets of the society and, under\n\nthe direction of the court, proceed forthwith to close the affairs\n\nof the society and to distribute its funds to those entitled.\n\nE. No action under this section shall be recognized in any\n\ncourt of this state unless brought by the Attorney General upon\n\nrequest of the Commissioner. Whenever a receiver is to be appointed\n\nfor a domestic society, the court shall appoint the Commissioner as\n\nthe receiver.\n\nF. The provisions of this section relating to hearing by the\n\nCommissioner, action by the Attorney General at the request of the\n\nCommissioner, hearing by the court, injunction and receivership\n\nshall be applicable to a society which shall voluntarily determine\n\nto discontinue business.","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":"75c655472667da4b65cfe9f0f4919d0e3c81d29deaa4e650bd137792adb9cbf7","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-2729.1","next":"us-ok/okla.-stat.-tit.-36-36-2731.1"},"notice":"GroundRules: Original legal text. Not legal advice."}