Oklahoma § 36-1625 - Time limits for disposal of other ineligible property and
Full text of Oklahoma Oklahoma Statutes § 36-1625 — Time limits for disposal of other ineligible property and, with citation guidance and answers to common questions.
§ 36-1625. Time limits for disposal of other ineligible property and
securities; penalty.
A. Any personal property or securities lawfully acquired by an
insurer, which it could not otherwise have invested in or loaned its
funds upon at the time of such acquisition, shall be disposed of
within three (3) years from date of acquisition, unless within such
period the security has attained to the standard of eligibility; the
failure to make such disposition shall result in the disallowance of
such property as an asset in any statement by an insurer to the
Insurance Commissioner, in any published financial statement or in
any examiner's report to said Commissioner; provided, however, that
any security or property acquired under any agreement of bulk
reinsurance, merger, or consolidation may be retained for a longer
period than such three (3) years if so provided in such plan for the
reinsurance, merger, or consolidation as was approved by the
Insurance Commissioner pursuant to this Code. The Insurance
Commissioner, upon application and proof that forced sale of any
such property or security would be against the best interests of the
insurer, may extend the disposal period for an additional reasonable
time.
B. Any real property acquired in satisfaction of debt by an
insurer, which the insurer could not otherwise have invested in or
loaned funds upon at the time of such acquisition, shall be disposed
of within three (3) years from the date of such acquisition. The
Insurance Commissioner, upon application and proof that forced sale
of any such property would be against the best interests of the
insurer, may extend the disposal period for an additional reasonable
time.
C. Any such real or personal property or security held by an
insurer after expiration of the period for disposal thereof or any
extension of such period granted by the Insurance Commissioner shall
not be allowed as an asset of the insurer.
Laws 1957, p. 291, § 1625.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 36-1625
What does Oklahoma Statutes § 36-1625 cover?
Section 36-1625 ("Time limits for disposal of other ineligible property and") 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 § 36-1625?
A common citation format is "Oklahoma Statutes § 36-1625" (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 § 36-1625 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.