Okla. Stat. tit. 36, § 36-1109
This is the official text of Okla. Stat. tit. 36, § 36-1109, part of Oklahoma’s Stat. tit. 36, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 36,." Browse the sections below, each linked to its official government source.
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Validity of surplus line insurance - Notice of
Official statutory text
limitations of coverage.
A. Insurance contracts procured as surplus line coverage from
surplus lines insurers in accordance with this article shall be
fully valid and enforceable as to all parties, and shall be given
recognition in all matters and respects to the same effect as like
contracts issued by admitted insurers.
B. Insurance contracts procured as surplus line coverage shall
contain in bold-face type notification stamped by the surplus lines
licensee or broker or surplus lines insurer on the declaration page
of the policy that the contracts are not subject to the protection
of any guaranty association in the event of liquidation or
receivership of the surplus lines insurer. The Commissioner is
Oklahoma Statutes - Title 36. Insurance Page 254
hereby authorized to promulgate rules to establish further
disclosure requirements for the purpose of protecting consumers of
surplus line coverage.
A. Insurance contracts procured as surplus line coverage from
surplus lines insurers in accordance with this article shall be
fully valid and enforceable as to all parties, and shall be given
recognition in all matters and respects to the same effect as like
contracts issued by admitted insurers.
B. Insurance contracts procured as surplus line coverage shall
contain in bold-face type notification stamped by the surplus lines
licensee or broker or surplus lines insurer on the declaration page
of the policy that the contracts are not subject to the protection
of any guaranty association in the event of liquidation or
receivership of the surplus lines insurer. The Commissioner is
Oklahoma Statutes - Title 36. Insurance Page 254
hereby authorized to promulgate rules to establish further
disclosure requirements for the purpose of protecting consumers of
surplus line coverage.
Status: in_force · Read it on the official government site
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