Okla. Stat. tit. 10, § 10-1430.26
This is the official text of Okla. Stat. tit. 10, § 10-1430.26, part of Oklahoma’s Stat. tit. 10, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 10,." Browse the sections below, each linked to its official government source.
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Provider prohibited from having insurable interest in
Official statutory text
life of resident or being beneficiary of life insurance policy -
Appointment as guardian or conservator or holding power of attorney
prohibited.
A. No provider or licensee, including a corporate officer,
major stockholder or member of the board of directors, member of the
firm, major member of the limited liability company or manager,
major partner of the partnership when the provider or licensee is a
firm, partnership, limited liability company, or corporation,
administrator, or employee of a group home subject to the provisions
of the Group Homes for Persons with Developmental or Physical
Disabilities Act shall have an insurable interest in the life of a
resident of the home unless the provider, licensee, administrator,
or employee is related to the resident of the home by blood,
marriage or adoption.
B. No provider or licensee, including a corporate officer,
major stockholder, or member of the board of directors, member of
the firm, major member of the limited liability company or manager,
major partner of the partnership when the provider or licensee is a
firm, partnership, limited liability company, or corporation,
administrator, or employee of a group home shall be entitled or
assigned to any benefits of a life insurance policy on the resident
unless the provider, licensee, administrator, or employee is related
to the resident of the home by blood, marriage or adoption.
C. No provider or licensee, including a corporate officer,
major stockholder or member of the board of directors, member of the
firm, major member of the limited liability company or manager,
major partner of the partnership, when the provider or licensee is a
firm, partnership, limited liability company, or corporation,
administrator, or employee of a group home shall be appointed
guardian or conservator of a resident of the home or hold power of
attorney for a resident of the home unless said provider, licensee,
administrator or employee is a relative of the resident and is
otherwise eligible for appointment by a court as the guardian of the
resident.
Appointment as guardian or conservator or holding power of attorney
prohibited.
A. No provider or licensee, including a corporate officer,
major stockholder or member of the board of directors, member of the
firm, major member of the limited liability company or manager,
major partner of the partnership when the provider or licensee is a
firm, partnership, limited liability company, or corporation,
administrator, or employee of a group home subject to the provisions
of the Group Homes for Persons with Developmental or Physical
Disabilities Act shall have an insurable interest in the life of a
resident of the home unless the provider, licensee, administrator,
or employee is related to the resident of the home by blood,
marriage or adoption.
B. No provider or licensee, including a corporate officer,
major stockholder, or member of the board of directors, member of
the firm, major member of the limited liability company or manager,
major partner of the partnership when the provider or licensee is a
firm, partnership, limited liability company, or corporation,
administrator, or employee of a group home shall be entitled or
assigned to any benefits of a life insurance policy on the resident
unless the provider, licensee, administrator, or employee is related
to the resident of the home by blood, marriage or adoption.
C. No provider or licensee, including a corporate officer,
major stockholder or member of the board of directors, member of the
firm, major member of the limited liability company or manager,
major partner of the partnership, when the provider or licensee is a
firm, partnership, limited liability company, or corporation,
administrator, or employee of a group home shall be appointed
guardian or conservator of a resident of the home or hold power of
attorney for a resident of the home unless said provider, licensee,
administrator or employee is a relative of the resident and is
otherwise eligible for appointment by a court as the guardian of the
resident.
Status: in_force · Read it on the official government site
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