{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-660.11","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-660.11","heading":"Policyholder membership interests","body":"A. The membership interests of the policyholders of the\n\nresulting company become membership interests in the mutual holding\n\ncompany. Eligible members of the converting company become members\n\nof the mutual holding company in accordance with the articles of\n\nincorporation and bylaws of the mutual holding company.\n\nB. A membership interest in a mutual holding company does not\n\nconstitute a security, defined as:\n\n1. A limited partner interest in a limited partnership;\n\n2. A share;\n\n3. A stock;\n\n4. A treasury stock;\n\n5. A stock certificate under a voting trust agreement;\n\n6. A collateral trust certificate;\n\n7. An equipment trust certificate;\n\n8. A preorganization certificate or receipt;\n\n9. A subscription or reorganization certificate;\n\n10. A note, bond, debenture, mortgage certificate, or other\n\nevidence of indebtedness;\n\n11. Any form of commercial paper;\n\n12. A certificate in or under a profit-sharing or participation\n\nagreement;\n\n13. A certificate or instrument representing an interest in or\n\nunder an oil, gas, or mining lease, fee, or title;\n\n14. A certificate or instrument representing or secured by an\n\ninterest in any of the capital, property, assets, profits, or\n\nearnings of a company;\n\n15. An investment contract; and\n\n16. Any other instrument commonly known as a security,\n\nregardless of whether the instrument is similar to another\n\ninstrument listed in this subsection.\n\nThis applies regardless of whether the security is evidenced by\n\na written instrument. This definition does not include an insurance\n\npolicy, endowment policy, annuity contract, or optional annuity\n\ncontract, or any contract or agreement in relation to and in\n\nconsequence of any such policy or contract, issued by an insurance\n\ncompany subject to the supervision or control of the Oklahoma\n\nInsurance Department when the form of such policy or contract has\n\nbeen filed with the Department as required by law.","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":"d0e8338180d53d5844cfd7009ba73c296f9a67c1a2e4f1718ce538c07857a72b","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-660.10","next":"us-ok/okla.-stat.-tit.-36-36-660.12"},"notice":"GroundRules: Original legal text. Not legal advice."}