Section 660.9 - [Effective 11/1/2024]A. The Oklahoma Insurance Commissioner shall review the proposed plan of reorganization as an alternate conversion plan. The Commissioner may require as a condition of approval modifications of the proposed plan of reorganization that the Commissioner determines necessary to protect the members' interests.B. The Commissioner may retain at the mutual insurance company's expense, a qualified expert who is not a member of the Commissioner's staff to assist the Commissioner in reviewing the conversion plan and the valuation. If the Commissioner retains a qualified expert under this subsection, the Commissioner may extend the period for decision by an additional sixty (60) days beyond the initial sixty-day period.C. The Commissioner has jurisdiction over a mutual holding company organized under this act to ensure that member interests are protected.Okla. Stat. tit. 36, § 660.9
Added by Laws 2024, c. 194,s. 9, eff. 11/1/2024.