Okla. Stat. tit. 36, § 36-6216.2

Cancellation.

A. The insured has the right to cancel any compensation

agreement entered into with a licensed public adjuster until

midnight of the third business day after the day on which the signed

agreement was provided to the insured.

B. Cancellation occurs when the insured gives written notice of

cancellation to the licensed public adjuster at the address stated

in the agreement between the parties. Notice of cancellation may be

given by mail and is given when deposited in a United States mailbox

properly addressed and postage prepaid. Notice of cancellation must

contain the written intention of the insured to cancel the

agreement. No liability accrues to the insured when the agreement

is canceled within said period, except for reasonable expense

incurred by the public adjuster in preserving the damaged premises

during the said three-day period. Anything of value given by the

insured under the contract shall be returned to the insured within

Oklahoma Statutes - Title 36. Insurance Page 1172

fifteen (15) business days following the receipt by the public

adjuster of the cancellation notice.

C. Every contract for services to be rendered by a public

adjuster shall contain the following statement. It shall be in

boldface ten-point or larger type and located conspicuously on the

front face of the contract. "THIS CONTRACT MAY BE CANCELED WITHIN

THREE (3) DAYS AFTER THE INSURED PARTY HAS RECEIVED AN ORIGINAL

SIGNED COPY OF THIS AGREEMENT".

D. Every contract for services to be rendered by a public

adjuster shall be in writing and contain the following information:

1. Legible full name of the public adjuster signing the

contract, as specified in Insurance Department records;

2. Permanent home state business address and phone number;

3. Department license number;

4. Title of "Public Adjuster Contract";

5. The insured's full name, street address, insurance company

name and policy number, if known or upon notification;

6. A description of the loss and its location, if applicable;

7. Description of services to be provided to the insured;

8. Signatures of the public adjuster and the insured;

9. Date contract was signed by the public adjuster and date the

contract was signed by the insured; and

10. Full salary, fee, commission, compensation or other

considerations the public adjuster is to receive for services

pursuant to the following guidelines:

a. if the compensation is based on a share of the

insurance settlement, the exact percentage shall be

specified,

b. initial expenses to be reimbursed to the public

adjuster from the proceeds of the claim payment shall

be specified by type, with dollar estimates set forth

in the contract and with any additional expenses first

approved by the insured,

c. compensation provisions in a public adjusting contract

shall not be redacted in any copy of a contract

provided to the Department upon request. Such a

redaction shall constitute an omission of material

fact, and

d. the public adjuster and the insured shall both

indicate their agreement to the compensation

provision(s) of the contract by initialing next to the

provision(s) in the contract.

E. If the insurer, not later than seventy-two (72) hours after

the date on which the loss is reported to the insurer, either pays

or commits in writing to pay to the insured a policy coverage

limit(s), the public adjuster shall, with respect to that coverage:

Oklahoma Statutes - Title 36. Insurance Page 1173

1. Not receive a commission consisting of a percentage of the

total amount paid by an insurer to resolve a claim;

2. Inform the insured that loss recovery amount might not be

increased by insurer; and

3. Be entitled only to reasonable compensation from the insured

for services provided by the public adjuster on behalf of the

insured, based on the time spent on a claim and expenses incurred by

the public adjuster, until the claim is paid or the insured receives
ount paid by an insurer to resolve a claim;

2. Inform the insured that loss recovery amount might not be

increased by insurer; and

3. Be entitled only to reasonable compensation from the insured

for services provided by the public adjuster on behalf of the

insured, based on the time spent on a claim and expenses incurred by

the public adjuster, until the claim is paid or the insured receives

a written commitment to pay from the insurer.

F. A public adjuster contract may not contain any contract term

that:

1. Allows the public adjuster’s percentage fee to be collected

when money is due from an insurance company but not paid, or that

allows a public adjuster to collect the entire fee from the first

check issued by an insurance company, rather than as a percentage of

each check issued by an insurance company;

2. Requires the insured to authorize an insurance company to

issue a check only in the name of the public adjuster;

3. Imposes collection costs or late fees; or

4. Precludes any party from pursuing civil remedies.

G. At the time of signing, a public adjuster shall deliver to

the insured, in any manner acceptable to the insured and approved by

the Insurance Commissioner, a copy of the original executed

contract.

H. A public adjuster contract may specify that the public

adjuster shall be named as a joint payee on an insurer's payment of

a claim.

I. The Insurance Commissioner reserves the right to approve

forms of contracts containing language other than that specified in

this section if:

1. Such language reasonably discloses to the insured the

statutory rights under this section and is otherwise consistent with

all other provisions of law and regulations promulgated; or

2. The Commissioner finds that the requirements of this section

are, in the Commissioner's opinion, unnecessary due to the nature

and scope of the business of the insured party to which the contract

will apply.