Oklahoma § 36-2907 - Surplus funds required
Full text of Oklahoma Oklahoma Statutes § 36-2907 — Surplus funds required, with citation guidance and answers to common questions.
§ 36-2907. Surplus funds required
A. A domestic reciprocal insurer hereunder formed, if it has
otherwise complied with the provisions of this Code, may be
authorized to transact insurance if it deposits and maintains on
deposit with the State Treasurer, through the office of the
Insurance Commissioner, surplus funds as follows:
1. To transact property insurance, surplus funds of not less
than One Hundred Thousand Dollars ($100,000.00).
2. To transact vehicle insurance, surplus funds of not less
than One Hundred Fifty Thousand Dollars ($150,000.00).
B. A domestic reciprocal insurer may be authorized to transact
additional kinds of insurance if it has otherwise complied with the
provisions of this Code therefor and possesses and so maintains on
deposit surplus funds in amount equal to the minimum capital
required of a stock insurer for authority to transact a like
combination of kinds of insurance.
Laws 1957, p. 355, § 2907.
Frequently Asked Questions About Oklahoma § 36-2907
What does Oklahoma Statutes § 36-2907 cover?
Section 36-2907 ("Surplus funds required") 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 § 36-2907?
A common citation format is "Oklahoma Statutes § 36-2907" (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 § 36-2907 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.