A. On the approval of the Oklahoma Insurance Commissioner, a foreign mutual insurance company may reorganize in compliance with the requirements of any law or regulation applicable to the foreign mutual insurance company by: 1. Transferring its members' membership interests into a mutual holding company formed under a procedure analogous to that described by this act; and2. Continuing the corporate existence of the reorganizing foreign mutual insurance company as a foreign stock insurance company subsidiary of the mutual holding company.B. The reorganizing foreign mutual insurance company may remain a foreign company and may be admitted to do business in this state. A foreign mutual insurance company may also redomesticate in this state by complying with the applicable requirements of Section 606.1 of Title 36 of the Oklahoma Statutes.Okla. Stat. tit. 36, § 660.13
Added by Laws 2024 , c. 194, s. 13, eff. 11/1/2024.