{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-2929","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-2929","heading":"Merger or conversion","body":"A. A domestic reciprocal insurer upon affirmative vote of not\n\nless than two-thirds (2/3) of its subscribers who vote on such\n\nmerger pursuant to due notice and the approval of the Insurance\n\nCommissioner of the terms therefor, may merge with another\n\nreciprocal insurer or be converted to a stock or mutual insurer.\n\nB. Such a stock or mutual insurer shall be subject to the same\n\ncapital requirements and shall have the same rights as a like\n\ndomestic insurer transacting like kinds of insurance.\n\nC. The Insurance Commissioner shall not approve any plans for\n\nsuch merger or conversion which is inequitable to subscribers, or\n\nwhich, if for conversion to a stock insurer, does not give each\n\nsubscriber preferential right to acquire stock of the proposed\n\ninsurer proportionate to his interest in the reciprocal insurer as\n\ndetermined in accordance with Section 2928 of this article and a\n\nreasonable length of time within which to exercise such right.","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":"2df324b77876b020758ebdb2974ed12aa9c03bceaf754fed0c1a98c595d5a762","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-2928","next":"us-ok/okla.-stat.-tit.-36-36-2930"},"notice":"GroundRules: Original legal text. Not legal advice."}