Oklahoma § 36-2929 - Merger or conversion
Full text of Oklahoma Oklahoma Statutes § 36-2929 — Merger or conversion, with citation guidance and answers to common questions.
§ 36-2929. Merger or conversion
A. A domestic reciprocal insurer upon affirmative vote of not
less than two-thirds (2/3) of its subscribers who vote on such
merger pursuant to due notice and the approval of the Insurance
Commissioner of the terms therefor, may merge with another
reciprocal insurer or be converted to a stock or mutual insurer.
B. Such a stock or mutual insurer shall be subject to the same
capital requirements and shall have the same rights as a like
domestic insurer transacting like kinds of insurance.
C. The Insurance Commissioner shall not approve any plans for
such merger or conversion which is inequitable to subscribers, or
which, if for conversion to a stock insurer, does not give each
subscriber preferential right to acquire stock of the proposed
insurer proportionate to his interest in the reciprocal insurer as
determined in accordance with Section 2928 of this article and a
reasonable length of time within which to exercise such right.
Laws 1957, p. 360, § 2929.
Frequently Asked Questions About Oklahoma § 36-2929
What does Oklahoma Statutes § 36-2929 cover?
Section 36-2929 ("Merger or conversion") 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 § 36-2929?
A common citation format is "Oklahoma Statutes § 36-2929" (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 § 36-2929 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.