{"data":{"id":"us-ok/okla.-stat.-tit.-8-8-230","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 8, § 8-230","heading":"Effective date - Exemption of certain existing associations","body":"- Bond of Treasurer.\n\nThe operative date of this Act shall be June 1, 1953. Provided\n\nthat the provisions of this Act shall not apply to an association\n\nwhich has been issuing the individual certificate, and individual\n\ncertificate only, prior to January 1, 1943, and which organization\n\nwas organized pursuant to the provisions of Section 10453, Oklahoma\n\nStatutes, 1931, and any such association now operating, which is\n\nnonprofit-sharing in its operation and pays no fees or salaries to\n\nany of their officers and have no capital stock and provides a\n\nburial out-fit and burial, the total value of which shall not exceed\n\nTwo Hundred Dollars ($200.00) to those entitled thereto under the\n\nsaid certificate, and which associations do not make an assessment\n\nagainst their members until and unless the fund on hand derived from\n\nmembership fees or assessments in the treasury of said association\n\nwould only pay for the burial of six adults entitled to a burial by\n\nsaid association, shall be exempt from the operations and effect of\n\nthe Insurance Laws of the State of Oklahoma, and shall not be\n\nrequired to comply with the Insurance laws of said state; provided\n\nthat the money collected by such association or associations shall\n\nbe held as a trust fund for the benefit of the beneficiaries and\n\nthat at least seventy-five percent (75%) of the membership fees\n\ncollected from the memberships shall be accounted for and paid into\n\nthis fund, and that all of any future assessments or memberships\n\nshall be paid into this fund.\n\nThat the treasurer of said association be required to file with\n\nthe court clerk of the county in which the association is organized\n\na surety bond running in the name of \"The State of Oklahoma;\" said\n\nbond to be approved by the court clerk of said county, and to be\n\nconditioned that the funds of the association will be held and\n\napplied as a trust fund to be paid out only in accordance with the\n\npurposes of the association, which bond shall at all times equal the\n\namount of the trust fund on hand in such association, and in no\n\nevent to be less than Two Thousand Dollars ($2,000.00).","path":["OK Code","Title 8"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os8.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"36614aa206fa485e31907be276e3725ebe362d8ce96aed884de259d964e16aca","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-8-8-229","next":"us-ok/okla.-stat.-tit.-8-8-230.1"},"notice":"GroundRules: Original legal text. Not legal advice."}