Okla. Stat. tit. 36, § 36-1447
This is the official text of Okla. Stat. tit. 36, § 36-1447, 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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Delivery of written communications to administrator -
Official statutory text
Compensation of administrator - Use of licensed agents.
A. Any policies, certificates, booklets, termination notices,
or other written communications delivered by the insurer or trust to
the administrator for delivery to policyholders shall be delivered
by the administrator promptly after receipt of instructions to do so
from the insurer or trust.
B. Compensation to an administrator for any policies for which
the administrator adjusts or settles claims shall not be contingent
upon claims experience. The provisions of this subsection shall not
Oklahoma Statutes - Title 36. Insurance Page 372
prevent basing the compensation of an administrator on the amount of
premiums or charges collected or number of claims paid or processed
or the number of covered insureds.
C. An administrator shall only use licensed insurance agents to
do the business of insurance for trusts or insurers administered by
the third-party administrator.
A. Any policies, certificates, booklets, termination notices,
or other written communications delivered by the insurer or trust to
the administrator for delivery to policyholders shall be delivered
by the administrator promptly after receipt of instructions to do so
from the insurer or trust.
B. Compensation to an administrator for any policies for which
the administrator adjusts or settles claims shall not be contingent
upon claims experience. The provisions of this subsection shall not
Oklahoma Statutes - Title 36. Insurance Page 372
prevent basing the compensation of an administrator on the amount of
premiums or charges collected or number of claims paid or processed
or the number of covered insureds.
C. An administrator shall only use licensed insurance agents to
do the business of insurance for trusts or insurers administered by
the third-party administrator.
Status: in_force · Read it on the official government site
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