Okla. Stat. tit. 36, § 36-4080
This is the official text of Okla. Stat. tit. 36, § 36-4080, 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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Enforcement of compliance
Official statutory text
A. If the Insurance Commissioner or an independent hearing
examiner finds that a violation of this act has occurred, the
Insurance Commissioner shall enforce compliance with this act by
sending a letter by certified mail, return receipt requested,
demanding that the charitable organization comply with this act. If
the charitable organization fails to comply with the demand within
thirty (30) days of receipt of the letter, the charitable
organization may be censured by the Insurance Commissioner or may be
subject to a civil fine of not less than One Thousand Dollars
($1,000.00) but not more than Ten Thousand Dollars ($10,000.00)
until such time as the charitable organization brings itself into
compliance with this act.
B. If the Insurance Commissioner or an independent hearing
examiner finds that the violation or threatened violation of this
act is willful and is substantially injurious to the public, the
Commissioner may file an action in district court to prevent,
restrain or enjoin such violation or threatened violation.
C. The failure of a charitable organization to comply with the
requirements of this act does not prevent a charitable gift annuity
from otherwise being a charitable gift annuity under the Internal
Revenue Code.
Oklahoma Statutes - Title 36. Insurance Page 916
examiner finds that a violation of this act has occurred, the
Insurance Commissioner shall enforce compliance with this act by
sending a letter by certified mail, return receipt requested,
demanding that the charitable organization comply with this act. If
the charitable organization fails to comply with the demand within
thirty (30) days of receipt of the letter, the charitable
organization may be censured by the Insurance Commissioner or may be
subject to a civil fine of not less than One Thousand Dollars
($1,000.00) but not more than Ten Thousand Dollars ($10,000.00)
until such time as the charitable organization brings itself into
compliance with this act.
B. If the Insurance Commissioner or an independent hearing
examiner finds that the violation or threatened violation of this
act is willful and is substantially injurious to the public, the
Commissioner may file an action in district court to prevent,
restrain or enjoin such violation or threatened violation.
C. The failure of a charitable organization to comply with the
requirements of this act does not prevent a charitable gift annuity
from otherwise being a charitable gift annuity under the Internal
Revenue Code.
Oklahoma Statutes - Title 36. Insurance Page 916
Status: in_force · Read it on the official government site
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