Oklahoma § 36-2503 - Certificate of authority to do business - Deposit of
Full text of Oklahoma Oklahoma Statutes § 36-2503 — Certificate of authority to do business - Deposit of, with citation guidance and answers to common questions.
§ 36-2503. Certificate of authority to do business - Deposit of
securities with State Treasurer.
No such corporation, company or association shall commence the
business of insurance until the Insurance Commissioner shall have
certified that it has complied with the provisions of this article,
and is authorized to transact the business of insurance; provided,
however, that every corporation incorporating or reincorporating
under the provisions of this article shall deposit with the
Commissioner securities in which insurance companies are allowed by
law to invest, subject to the approval of the Insurance
Commissioner, a sum not less than Twenty Thousand Dollars
($20,000.00), before it shall commence business.
The sum shall be
a part of the insurance fund and an asset of the corporation. The
securities deposited with the Commissioner pursuant to this section
Oklahoma Statutes - Title 36. Insurance
shall be held in trust as an emergency fund for the benefit and
protection of and as security for the policyholders of such
corporation, their legal representatives and beneficiaries.
Added by Laws 1957, p. 324, § 2503, operative July 1, 1957. Amended
by Laws 2014, c. 275, § 11, eff. Nov. 1, 2014.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 36-2503
What does Oklahoma Statutes § 36-2503 cover?
Section 36-2503 ("Certificate of authority to do business - Deposit of") 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 § 36-2503?
A common citation format is "Oklahoma Statutes § 36-2503" (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 § 36-2503 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.