Okla. Stat. tit. 36 § 1606

Current through Laws 2024, c. 453.
Section 1606 - Required capital investments

After the effective date of this act, until an insurer authorized to transact business shall have assets of One Million Dollars ($1,000,000.00) or in the case of insurers authorized to transact business prior to the effective date of this act shall have assets in an amount equal to three (3) times the minimum paid-in capital that was required of a like domestic stock insurer on January 1, 1979, it shall invest and maintain its funds only in cash and the securities described in the following sections of this article: Section 1607 (Securities of or guaranteed by the United States); Section 1608 (State and Canadian public obligations); Section 1609 (County, municipal and district obligations); Section 1610 (Public improvement bonds); and Section 1620 (Deposits: Banks, Savings and Loan).

Okla. Stat. tit. 36, § 1606

Laws 1957, HB 501, p. 286, § 1606; Amended by Laws 1959, p. 292, § 8; Amended by Laws 1965, c. 123, § 5; Amended by Laws 1967, c. 242, § 4, emerg. eff. 5/5/1967; Amended by Laws 1980, c. 185, § 8, eff. 10/1/1980.