Legal Opinion
Opinion No. (1980) Ag
Oklahoma Attorney General Reports
Decided February 6, 1980Published
1Opinion of the Court
The Attorney General has received your request for an opinion wherein you ask, in effect, the following question: In view of the statutory prohibition set forth in 36 O.S. 1314 [36-1314](E) and 36 O.S. 1407.1 [36-1407.1](E) of the Oklahoma Insurance Code, may a corporation Bank Holding Company create a valid business trust for the purpose of circumventing the statutory prohibition against corporate ownership of a licensed insurance agency? 36 O.S. 1314 [36-1314](E) (1971) provides: "No firm or corporation shall be licensed unless the business to be transacted thereunder is the sole purpose of…
2Cases cited5 opinions
- Reid v. BarrySupreme Court of Florida · 1927
- Case v. KellySupreme Court of the United States · 1890
- Merchants National Bank v. FrazierAppellate Court of Illinois · 1946
- Hauser v. CatlettSupreme Court of Oklahoma · 1946
- State ex rel. Combs v. Hopping Inv. Co.Supreme Court of Oklahoma · 1954