Okla. Stat. tit. 36, § 36-1435.20a

A. As used in this section:

1. "Self-service storage insurance" means personal property

insurance offered to occupants of a self-service storage facility in

connection with and incidental to the rental of space at the self-

service storage facility. Self-service storage insurance is limited

to coverage against the loss of or physical damage to personal

property that occurs on the premises of the self-service storage

facility or when the personal property is in transit to or from the

self-service storage facility during the period of the rental

agreement;

2. "Occupant" means a person, or his or her sublessee,

successor or assign, entitled to the use of the storage space at a

self-service storage facility under a rental agreement, to the

exclusion of others;

3. "Owner" means the owner, operator, lessor or sublessor of a

self-service storage facility, or any person authorized by him or

her to manage the facility or to receive rent from an occupant under

a rental agreement;

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4. "Self-service storage facility" means any real property

designed and used for the purpose of renting or leasing individual

storage space to occupants who are to have access to such facility

for the purpose of storing and removing personal property;

5. "Supervising entity" means a business entity that is a

licensed insurer or insurance producer.

B. The owner of a self-service storage facility may sell,

solicit and offer coverage for self-service storage insurance.

C. An owner is required to hold a limited lines license,

pursuant to Section 1435.20 of Title 36 of the Oklahoma Statutes, to

sell, solicit or offer coverage for self-service storage insurance.

An owner is not required to be licensed solely to display and make

available brochures and other promotional materials created by or on

behalf of an authorized insurer or surplus lines insurer. A limited

lines license shall authorize any employee or authorized

representative of the owner to sell, solicit and offer coverage for

self-service storage insurance to occupants at each location at

which the owner conducts business.

D. An owner holding a limited lines license pursuant to Section

1435.20 of Title 36 of the Oklahoma Statutes is exempt from the

examination requirements in Section 1435.6 of Title 36 of the

Oklahoma Statutes and the continuing education requirements in

Section 1435.29 of Title 36 of the Oklahoma Statutes.

E. An owner or supervising entity shall maintain a registry of

agents of the owner at each self-service storage facility who are

engaged in selling, soliciting or offering self-service storage

insurance coverage under the authority of the limited lines license

of the owner.

F. Upon request by the Insurance Commissioner and with ten-

days' notice, the books and records of the owner regarding the self-

service storage insurance shall be open to examination by the

Insurance Commissioner during regular business hours of the

supervising entity.

G. At every location where self-service storage insurance is

offered, brochures or other written or electronic materials must be

made available to prospective purchasers which:

1. Disclose that self-service storage insurance may provide a

duplication of coverage already provided by a homeowner's insurance

policy, renter's insurance policy or other source of coverage of the

occupant;

2. State that the purchase of the self-service storage

insurance offered by the owner is not required in order to lease

storage space;

3. Provide:

a. the identity of the insurer,

b. the identity of the owner,

c. the process for filing a claim, and

Oklahoma Statutes - Title 36. Insurance Page 357

d. that the insured may cancel the coverage at any time

and receive a refund of any applicable unearned

premium.

H. Each prospective purchaser of self-service storage insurance

shall be provided, prior to the time of sale, a copy of the policy
. the identity of the insurer,

b. the identity of the owner,

c. the process for filing a claim, and

Oklahoma Statutes - Title 36. Insurance Page 357

d. that the insured may cancel the coverage at any time

and receive a refund of any applicable unearned

premium.

H. Each prospective purchaser of self-service storage insurance

shall be provided, prior to the time of sale, a copy of the policy

or certificate, as applicable.

I. Self-service storage insurance may be provided under an

individual, master, corporate, commercial or group insurance policy.

J. Self-service storage insurance rules, rates and forms are

subject to the provisions of Sections 1201 through 1219, Sections

309.1 through 309.7, and Section 1435.26 of Title 36 of the Oklahoma

Statutes.

K. The insurer issuing the self-service storage insurance shall

either directly supervise or appoint a supervising entity to oversee

compliance with applicable law. The insurer or supervising entity

shall provide a training program for employees and authorized

representatives of the owner that sell, solicit or offer self-

service storage insurance. The training required by this subsection

shall include each employee and authorized representative that

sells, solicits or offers self-service storage insurance receiving

basic instruction about the self-service storage insurance offered

to occupants and the disclosures required pursuant to subsection G

of this section.

L. No employee or authorized representative of an owner shall

advertise, represent or otherwise hold himself or herself out as a

licensed insurance producer, unless so licensed.

M. The premium for self-service storage insurance coverage may

be billed and collected by the owner. The premium for the coverage

shall be separately itemized on the bill of the occupant. All

premiums received by an owner for the sale of self-service storage

insurance shall be considered funds held by the owner in a fiduciary

capacity for the benefit of the insurer. An owner billing and

collecting charges for self-service storage insurance shall not be

required to maintain the funds in a segregated account provided that

the owner is authorized by the insurer or supervising entity to hold

the funds in an alternative manner and to remit the amounts to the

supervising entity or insurer within sixty (60) days of receipt.

Owners may receive compensation for billing and collection services.

N. A sworn application for a self-service storage insurance

limited lines license provided for in Section 1435.20 of Title 36 of

the Oklahoma Statutes shall be made to and filed with the Insurance

Commissioner on forms prescribed and furnished by the Insurance

Commissioner.

O. The application for licensure shall provide the name,

residence address, principal place of business, facilities covered

by the license, authorized representatives and other information

required by the Insurance Commissioner for the owner and the

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licensed producer that is designated by the applicant as the person

supervising compliance with the requirements of this section. Such

information shall be updated within thirty (30) days of any change.

The licensed producer that is designated by the applicant does not

need to own or be employed by the owner.

P. Limited lines licenses for self-service storage insurance

shall be valid for a period of twenty-four (24) months.

Q. Each owner licensed pursuant to this section shall pay to

the Insurance Commissioner a fee as prescribed by the Insurance

Commissioner.