Okla. Stat. tit. 36, § 36-4214
This is the official text of Okla. Stat. tit. 36, § 36-4214, 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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Direct payment of premiums
Official statutory text
In the case of weekly premium policies, there may be a provision
that upon proper notice to the insurer, while premiums on the policy
are not in default beyond the grace period, of the intention to pay
future premiums directly to the insurer at its home office or any
office designated by the insurer for the purpose, the insurer will,
at the end of each period of a year from the due date of the first
premium so paid, for which period such premiums are so paid
continuously without default beyond the grace period, refund a
stated percentage of the premiums in an amount which fairly
represents the savings in collection expense.
that upon proper notice to the insurer, while premiums on the policy
are not in default beyond the grace period, of the intention to pay
future premiums directly to the insurer at its home office or any
office designated by the insurer for the purpose, the insurer will,
at the end of each period of a year from the due date of the first
premium so paid, for which period such premiums are so paid
continuously without default beyond the grace period, refund a
stated percentage of the premiums in an amount which fairly
represents the savings in collection expense.
Status: in_force · Read it on the official government site
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