§ 1929. Allowance of certain claims
Oklahoma Statutes AnnotatedTitle 36. Insurance
36 Okl.St.Ann. § 1929
§ 1929. Allowance of certain claims
B. Where an insurer has been so adjudicated to be insolvent any person who has a cause of action against an insured of such insurer under a liability insurance policy issued by such insurer shall have the right to file a claim in the liquidation proceeding, regardless of the fact that such claim may be contingent, and such claim may be allowed:
C. No judgment against such an insured taken after the date of entry of the liquidation order shall be considered in the liquidation proceedings as evidence of liability, or of the amount of damages, and no judgment against an insured taken by default or by collusion prior to the entry of the liquidation order shall be considered as conclusive evidence in the liquidation proceedings, either of the liability of such insured to such person upon such cause of action or of the amount of damages to which such person is therein entitled.
D. No claim of any secured claimant shall be allowed at a sum greater than the difference between the value of the claim without security and the value of the security itself as of the date of the entry of the order of liquidation or such other date set by the court for determining rights and liabilities as provided in Section 1825 of this article1 unless the claimant shall surrender his security to the Insurance Commissioner, in which event the claim shall be allowed in the full amount for which it is valued.
Credits
Laws 1957, p. 301, § 1829, operative July 1, 1957. Renumbered from Title 36, § 1829 by Laws 1975, c. 316, § 12, emerg. eff. June 12, 1975.
Footnotes
Now Title 36, § 1925,
36 Okl. St. Ann. § 1929, OK ST T. 36 § 1929
Current with emergency effective legislation through Chapter 106 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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