Oklahoma legislation · 2026 Regular Session
Oklahoma SB2185: Mutual insurance companies; stating findings; prohibiting modifications of corporate structures. Emergency.
Status: Introduced, May 5, 2026
What the bill says
An Act relating to mutual insurance companies; stating legislative findings; prohibiting modification of certain corporate structure until full payment of certain ownership interests; defining terms; providing for codification; and declaring an emergency.
From the introduced text, April 30, 2026:
An Act relating to mutual insurance companies; stating legislative findings; prohibiting modification of certain corporate structure until full payment of certain ownership interests; defining terms; providing for codification; and declaring an emergency. SECTION 1. NEW LAW A new section of law to be codified in the Oklahoma Statutes as Section 331 of Title 85A, unless there is created a duplication in numbering, reads as follows: A. 1. The Legislature finds that it is a matter of public interest that mutual insurance company policyholders are treated fairly and equitably in any transition to a mutual insurance holding company. 2. The Supreme Court has determined, and the Legislature affirms, that all monies and other assets of mutual insurance companies created by statute and started with funds appropriated by Req. No. 3961 Page 1 the Legislature are held in trust for the benefit of the policyholders. A mutual insurance company created by statute and started with funds appropriated by the Legislature may never transition into a stock insurance company. B. A mutual insurance company created by statute and started with funds appropriated by the Legislature shall not transition into a mutual insurance holding company unless and until it pays all policyholders from January 1, 2000, to the present their fair and equitable ownership interest as owners and trustees of a mutual insurance company. …
Sponsors
- Lonnie Paxton (R, SD-023) · primary sponsor
Latest actions
- : Placed on General Order
- : Direct to Calendar
- : Coauthored by Representative Hilbert (principal House author)
- : Authored by Senator Paxton
- : First Reading
Common questions
- What is SB2185?
- SB2185 is a bill in the Oklahoma Legislature (2026 Regular Session): Mutual insurance companies; stating findings; prohibiting modifications of corporate structures. Emergency.
- What does SB2185 do?
- In its own words: An Act relating to mutual insurance companies; stating legislative findings; prohibiting modification of certain corporate structure until full payment of certain ownership interests; defining terms; providing for codification; and declaring an emergency.
- What is the status of SB2185?
- Introduced as of May 5, 2026. Latest action: Placed on General Order (May 5, 2026).
- Who sponsored SB2185?
- Lonnie Paxton (R, SD-023).
- Where is the official record for SB2185?
- On the Oklahoma Legislature website: https://www.oklegislature.gov/BillInfo.aspx?Bill=SB2185&Session=2600
Source: official Oklahoma record. Tracked by Delilah, AI for legislation across all 50 states and Congress.