Okla. Stat. tit. 36, § 36-6125.1
This is the official text of Okla. Stat. tit. 36, § 36-6125.1, 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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Maximum amount of principal an organization may receive
Official statutory text
pursuant to insurance contract.
Oklahoma Statutes - Title 36. Insurance Page 1146
A. The maximum amount of principal which an organization may
legally receive from any one individual pursuant to a contract
establishing a fund for prepaid funeral benefits pursuant to
paragraph 2 of subsection B of Section 6125 of this title shall be
Twenty Thousand Dollars ($20,000.00).
B. The maximum allowable amount of principal for subsequent
years shall be increased annually by a percentage equal to the
previous year’s increase in the national Consumer Price Index (CPI).
The Insurance Commissioner shall determine the amount of the
increase, if any, on April 1 of each year.
Oklahoma Statutes - Title 36. Insurance Page 1146
A. The maximum amount of principal which an organization may
legally receive from any one individual pursuant to a contract
establishing a fund for prepaid funeral benefits pursuant to
paragraph 2 of subsection B of Section 6125 of this title shall be
Twenty Thousand Dollars ($20,000.00).
B. The maximum allowable amount of principal for subsequent
years shall be increased annually by a percentage equal to the
previous year’s increase in the national Consumer Price Index (CPI).
The Insurance Commissioner shall determine the amount of the
increase, if any, on April 1 of each year.
Status: in_force · Read it on the official government site
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