Oklahoma § 36-1603 - Qualification of securities or property as eligible
Full text of Oklahoma Oklahoma Statutes § 36-1603 — Qualification of securities or property as eligible, with citation guidance and answers to common questions.
§ 36-1603. Qualification of securities or property as eligible
investments.
A. No security or investment (other than property or shares
acquired pursuant to Sections 1612, 1616 or 1624 of this article)
shall be eligible for acquisition unless it is interest bearing or
interest accruing or dividend or income paying, is not then in
default in any respect, and the insurer is entitled to receive for
its exclusive account and benefit the interest or income accruing
thereon. Defaults in interest or income occurring subsequent to
acquisition of an investment shall not affect allowance thereof as
an asset.
B. No security or investment shall be eligible for purchase at
a price above its market value.
C. No provision of this article shall prohibit the acquisition
by an insurer of other or additional securities or property if
received as a dividend or as a lawful distribution of assets, or if
acquired pursuant to a lawful and bona fide agreement of bulk
reinsurance, merger, or consolidation. Any investment so acquired
through bulk reinsurance, merger, or consolidation, which is not
otherwise eligible under this article, shall be disposed of pursuant
to Section 1625 of this article.
Laws 1957, p. 286, § 1603; Laws 1965, c. 123, § 2.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 36-1603
What does Oklahoma Statutes § 36-1603 cover?
Section 36-1603 ("Qualification of securities or property as eligible") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 36-1603?
A common citation format is "Oklahoma Statutes § 36-1603" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 36-1603 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.