§36-660.9. Proposed reorganization plan — Commissioner review as
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alternate conversion plan.
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. Added by Laws 2024, c. 194, § 9, eff. Nov. 1, 2024.