Okla. Stat. tit. 36, § 36-4804
This is the official text of Okla. Stat. tit. 36, § 36-4804, 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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Policy limited – Liability - Excess premiums reimbursed
Official statutory text
No insurance company shall, knowingly, issue any fire insurance
policy upon property within this state for an amount which, with any
existing insurance thereon, exceeds the fair value of the property.
If buildings insured against loss by fire, and situated within this
state, are totally destroyed by fire, the company shall not be
liable beyond the actual value of the insured property at the time
of the loss or damage, and if it shall appear that the insured has
paid premiums on an amount in excess of said actual value, the
assured shall be reimbursed the proportionate excess of premiums
paid on the difference between the amount named in the policy and
said actual value, with interest at six percent (6%) per annum from
the date of issue.
policy upon property within this state for an amount which, with any
existing insurance thereon, exceeds the fair value of the property.
If buildings insured against loss by fire, and situated within this
state, are totally destroyed by fire, the company shall not be
liable beyond the actual value of the insured property at the time
of the loss or damage, and if it shall appear that the insured has
paid premiums on an amount in excess of said actual value, the
assured shall be reimbursed the proportionate excess of premiums
paid on the difference between the amount named in the policy and
said actual value, with interest at six percent (6%) per annum from
the date of issue.
Status: in_force · Read it on the official government site
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