Oklahoma SB2185 ensures policyholders receive fair market value for their interests in mutual insurance companies created by statute.

Oklahoma SB2185 declares that policyholders of mutual insurance companies created by statute and started with legislative funds must receive fair market value for their policy interests. The bill prohibits these companies from altering their corporate structure until all policyholders are fully paid. It also declares an emergency, allowing the act to take effect immediately upon passage and approval.

Oklahoma SB2185 ensures policyholders receive fair market value for their interests in mutual insurance companies created by statute.

Oklahoma SB2185 declares that policyholders of mutual insurance companies created by statute and started with legislative funds must receive fair market value for their policy interests. The bill prohibits these companies from altering their corporate structure until all policyholders are fully paid. It also declares an emergency, allowing the act to take effect immediately upon passage and approval.