Okla. Stat. tit. 36, § 36-1241
This is the official text of Okla. Stat. tit. 36, § 36-1241, 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.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Property and casualty insurer - Acceptance or denial of
Official statutory text
application.
A property and casualty insurer shall, within forty-five (45)
business days of taking an application, determine whether or not the
applicant should be accepted or denied as an insured and shall give
written notice to the agent of the acceptance or denial. If the
applicant is denied as an insured, any premium monies paid, less any
Oklahoma Statutes - Title 36. Insurance Page 304
expenses incurred either by the agent or the insurer, shall be
immediately returned to the proposed purchaser of the policy.
Failure of the insurer to return premium monies to the applicant
within forty-five (45) business days of the initial submission to
the insurer, broker, or agent, shall result in the applicant
recovering any interest and bank charges which the proposed insured
has incurred because of the delay in return of the initial premium,
less expenses incurred. In addition, if the insurer does not return
the premium monies, less expenses, within the forty-five-day period,
the insurer shall remain liable for the insurance coverage and any
claims pursuant thereto which the remaining premium monies would
have purchased.
A property and casualty insurer shall, within forty-five (45)
business days of taking an application, determine whether or not the
applicant should be accepted or denied as an insured and shall give
written notice to the agent of the acceptance or denial. If the
applicant is denied as an insured, any premium monies paid, less any
Oklahoma Statutes - Title 36. Insurance Page 304
expenses incurred either by the agent or the insurer, shall be
immediately returned to the proposed purchaser of the policy.
Failure of the insurer to return premium monies to the applicant
within forty-five (45) business days of the initial submission to
the insurer, broker, or agent, shall result in the applicant
recovering any interest and bank charges which the proposed insured
has incurred because of the delay in return of the initial premium,
less expenses incurred. In addition, if the insurer does not return
the premium monies, less expenses, within the forty-five-day period,
the insurer shall remain liable for the insurance coverage and any
claims pursuant thereto which the remaining premium monies would
have purchased.
Status: in_force · Read it on the official government site
Need a lawyer in Oklahoma?
Find a Oklahoma lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.