Okla. Stat. tit. 36, § 36-2912
This is the official text of Okla. Stat. tit. 36, § 36-2912, 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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Attorney's bond
Official statutory text
A. Concurrently with the filing of the declaration provided for
in Section 2908 of this article, the attorney of a domestic
reciprocal insurer shall file with the Insurance Commissioner a bond
in favor of the State of Oklahoma for the benefit of all persons
damaged as a result of breach by the attorney of the conditions of
his bond as set forth in subsection B hereof. The bond shall be
executed by the attorney and by an authorized corporate surety, and
shall be subject to the Insurance Commissioner's approval.
B. The bond shall be in the penal sum of Twenty-five Thousand
Dollars ($25,000.00), aggregate in form, conditioned that the
attorney will faithfully account for all monies and other property
of the insurer coming into his hands, and that he will not withdraw
Oklahoma Statutes - Title 36. Insurance Page 745
or appropriate to his own use, from the funds of the insurer, any
monies or property to which he is not entitled under the power of
attorney.
C. The bond shall provide that it is not subject to
cancellation unless thirty (30) days' advance notice in writing of
cancellation is given both the attorney and the Insurance
Commissioner.
in Section 2908 of this article, the attorney of a domestic
reciprocal insurer shall file with the Insurance Commissioner a bond
in favor of the State of Oklahoma for the benefit of all persons
damaged as a result of breach by the attorney of the conditions of
his bond as set forth in subsection B hereof. The bond shall be
executed by the attorney and by an authorized corporate surety, and
shall be subject to the Insurance Commissioner's approval.
B. The bond shall be in the penal sum of Twenty-five Thousand
Dollars ($25,000.00), aggregate in form, conditioned that the
attorney will faithfully account for all monies and other property
of the insurer coming into his hands, and that he will not withdraw
Oklahoma Statutes - Title 36. Insurance Page 745
or appropriate to his own use, from the funds of the insurer, any
monies or property to which he is not entitled under the power of
attorney.
C. The bond shall provide that it is not subject to
cancellation unless thirty (30) days' advance notice in writing of
cancellation is given both the attorney and the Insurance
Commissioner.
Status: in_force · Read it on the official government site
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