Oklahoma § 36-2512 - Amendment of articles of incorporation to conform to

§ 36-2512. Amendment of articles of incorporation to conform to

general insurance law.

Any domestic life or accident and health insurance corporation,

company or association existing or doing business in this state

under the stipulated premium plan law on April 9, 1923, may, by

majority vote of its board of directors or trustees, accept the

provisions of this article, the same as if it had originally been

incorporated thereunder, and shall submit a record of the

proceedings of its board of directors or trustees, together with the

amended articles, to the Insurance Commissioner, for his examination

and approval of the legal form thereof, and shall file such amended

articles in the office of the Secretary of State and a certified

copy of same in the office of the Insurance Commissioner, and

deposit with the State Treasurer such securities as may be required

of corporations originally incorporated under this article.

Insurance corporations, companies and associations complying with

the provisions of this section shall thereafter enjoy and exercise

all of the rights and privileges accorded by law to companies

originally incorporated under this article. Compliance with this

section shall in nowise annul, modify or change any of the existing

contracts or obligations of the corporation, and any and all such

contracts and liabilities shall continue in force and effect the

same as if such corporation had not reincorporated under the

provisions of this section. Compliance with the provisions of this

section shall in no way prejudice, impede or impair any pending

action, proceeding or rights previously acquired.

Laws 1957, p. 326, § 2512.