{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-2926","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-2926","heading":"Nonassessable policies","body":"A. If a reciprocal insurer has a surplus of assets over all\n\nliabilities at least equal to the minimum capital stock generally\n\nrequired of a domestic stock insurer authorized to transact like\n\nkinds of insurance, upon application of the attorney and as approved\n\nby the subscribers' advisory committee the Insurance Commissioner\n\nshall issue his certificate authorizing the insurer to extinguish\n\nthe contingent liability of subscribers under its policies then in\n\nforce in this state, and to omit provisions imposing contingent\n\nliability in all policies delivered or issued for delivery in this\n\nstate for so long as all such surplus remains unimpaired.\n\nB. Upon impairment of such surplus, the Insurance Commissioner\n\nshall forthwith revoke the certificate. Such revocation shall not\n\nrender subject to contingent liability any policy then in force and\n\nfor the remainder of the period for which the premium has\n\ntheretofore been paid; but after such revocation no policy shall be\n\nissued or renewed without providing for contingent assessment\n\nliability of the subscriber.\n\nC. No insured member or subscriber of a domestic reciprocal\n\ninsurer shall be liable for assessments on policies issued by such\n\ninsurer. No policies shall be issued or renewed by a domestic\n\nreciprocal insurer which contain provisions for contingent or\n\nassessment liability of an insured, member or subscriber. Except,\n\nthat if required by the laws of another state in which the insurer\n\nis transacting insurance as an authorized insurer, the insurer may\n\nissue policies providing for the contingent liability of such of its\n\nsubscribers as may require such policies in such state, and need not\n\nextinguish the contingent liability applicable to policies\n\ntheretofore in force in such state.","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":"f23308b8771c88b508890e1d7156f0a30882cea36ebd9c00e645f149f2585113","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-2922","next":"us-ok/okla.-stat.-tit.-36-36-2927"},"notice":"GroundRules: Original legal text. Not legal advice."}