Oklahoma § 36-2119 - Nonassessable policies, mutual insurers
Full text of Oklahoma Oklahoma Statutes § 36-2119 — Nonassessable policies, mutual insurers, with citation guidance and answers to common questions.
§ 36-2119. Nonassessable policies, mutual insurers
A. While it maintains on deposit with the State Treasurer
through the Insurance Commissioner surplus funds in amount not less
than the paid-in capital required of a domestic stock insurer
transacting like kinds of insurance, a domestic mutual insurer may
extinguish the contingent liability of its members as to all
policies in force, and may omit provisions imposing contingent
liability in all its policies currently issued.
B. When such surplus funds have been so deposited and the
Commissioner has so ascertained, he shall issue to the insurer at
its request his certificate authorizing such extinguishment and
omission of contingent liability.
C. A foreign or alien mutual insurer may issue nonassessable
policies to its members in this state in accordance with its charter
and the laws of its domicile, provided the standards and
requirements of the laws of the state of such domicile with respect
to the issuance of nonassessable policies are substantially
equivalent to or higher than the legal requirements in Oklahoma.
Laws 1957, p. 308, § 2119.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 36-2119
What does Oklahoma Statutes § 36-2119 cover?
Section 36-2119 ("Nonassessable policies, mutual insurers") 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 § 36-2119?
A common citation format is "Oklahoma Statutes § 36-2119" (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 § 36-2119 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.