Oklahoma § 36-2722.1 - Funds
Full text of Oklahoma Oklahoma Statutes § 36-2722.1 — Funds, with citation guidance and answers to common questions.
§ 36-2722.1. Funds
A. All assets shall be held, invested and disbursed for the use
and benefit of the society and no member or beneficiary shall have
or acquire individual rights therein or become entitled to any
apportionment on the surrender of any part thereof, except as
provided in the benefit contract.
B. A society may create, maintain, invest, disburse and apply
any special fund or funds necessary to carry out any purpose
permitted by the laws of such society.
C. A society may, pursuant to resolution of its supreme
governing body, establish and operate one or more separate accounts
and issue contracts on a variable basis, subject to the provisions
of law regulating life insurers establishing such accounts and
issuing such contracts. To the extent the society deems it
necessary in order to comply with any applicable federal or state
laws, or any rules issued thereunder, the society may adopt special
procedures for the conduct of the business and affairs of a separate
account; may, for persons having beneficial interests therein,
provide special voting and other rights, including, without
limitation, special rights and procedures relating to investment
policy, investment advisory services, selection of a licensed public
accountant or a certified public accountant holding a permit to
practice accounting, and selection of a committee to manage the
business and affairs of the account; and may issue contracts on a
variable basis to which subsections B and D of Section 19 of this
act shall not apply.
Added by Laws 1992, c. 76, § 22, eff. Jan. 1, 1993.
Oklahoma Statutes - Title 36. Insurance
Frequently Asked Questions About Oklahoma § 36-2722.1
What does Oklahoma Statutes § 36-2722.1 cover?
Section 36-2722.1 ("Funds") 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 § 36-2722.1?
A common citation format is "Oklahoma Statutes § 36-2722.1" (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 § 36-2722.1 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.