§ 1503. Assets not allowed as deductions from liabilities
Oklahoma Statutes AnnotatedTitle 36. Insurance
36 Okl.St.Ann. § 1503
§ 1503. Assets not allowed as deductions from liabilities
In addition to assets impliedly excluded by the provisions of Section 1501 of this article, the following expressly shall not be allowed as assets in any determination of the financial condition of an insurer:
4. Furniture, fixtures, furnishings, safes, vehicles, libraries, stationery, literature and supplies, except in the case of title insurers such materials and plants as the insurer is expressly authorized to invest in under Article 50 (Title Insurers) of this Code1 and except, in the case of any insurer, such personal property as the insurer is permitted to hold pursuant to Article 16 (Investments) of this Code, or which is reasonably necessary for the maintenance and operation of real estate lawfully acquired and held by the insurer other than real estate used by it for home office, branch office and similar purposes.
Credits
Laws 1957, p. 281, § 1503, operative July 1, 1957; Laws 2004, c. 334, § 41, emerg. eff. May 25, 2004.
Footnotes
Title 36, § 5001 et seq.
36 Okl. St. Ann. § 1503, OK ST T. 36 § 1503
Current with emergency effective legislation through Chapter 182 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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