Okla. Stat. tit. 36, § 36-1214
This is the official text of Okla. Stat. tit. 36, § 36-1214, 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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Fair disclosure - Protection against misleading sales
Official statutory text
methods.
The purpose of this act is to assure fair disclosure of relevant
facts in the sale of life insurance and annuity contracts. This act
is also designed to protect citizens of the State of Oklahoma as
purchasers and prospective purchasers of life insurance policies or
annuity contracts against the use of sales methods which are
misleading because of:
1. The omission of facts fairly describing the subject matter
as a life insurance policy or annuity contract and the benefits
obtainable thereunder;
2. An undue emphasis upon facts which, even though correct, are
not relevant to the sale of life insurance or annuities; or
3. An undue emphasis upon features which are of incidental or
secondary importance to the life insurance aspects of a policy.
This act is deemed necessary for the effectuation of Section
1201 et seq., Title 36, Oklahoma Statutes, known as the Unfair
Practices and Frauds Act; Section 1401 et seq., Title 36, Oklahoma
Statutes; and Sections 2741 and 2742, Title 36, Oklahoma Statutes;
and shall be construed as supplemental and cumulative to existing
laws.
The purpose of this act is to assure fair disclosure of relevant
facts in the sale of life insurance and annuity contracts. This act
is also designed to protect citizens of the State of Oklahoma as
purchasers and prospective purchasers of life insurance policies or
annuity contracts against the use of sales methods which are
misleading because of:
1. The omission of facts fairly describing the subject matter
as a life insurance policy or annuity contract and the benefits
obtainable thereunder;
2. An undue emphasis upon facts which, even though correct, are
not relevant to the sale of life insurance or annuities; or
3. An undue emphasis upon features which are of incidental or
secondary importance to the life insurance aspects of a policy.
This act is deemed necessary for the effectuation of Section
1201 et seq., Title 36, Oklahoma Statutes, known as the Unfair
Practices and Frauds Act; Section 1401 et seq., Title 36, Oklahoma
Statutes; and Sections 2741 and 2742, Title 36, Oklahoma Statutes;
and shall be construed as supplemental and cumulative to existing
laws.
Status: in_force · Read it on the official government site
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