Okla. Stat. tit. 36, § 36-6223

A. A public adjuster shall not misrepresent to a claimant that

the public adjuster is an adjuster representing an insurer in any

capacity, including acting as an employee of the insurer or acting

as an independent adjuster.

B. No public adjuster shall split any commission, service fee

or other valuable consideration for performing adjusting services

with any person or entity unless that person or entity is required

to be licensed as a public adjuster under this title and is so

licensed.

C. Prior to the signing of the contract the public adjuster

shall provide the insured with a separate disclosure document

regarding the claim process that states:

1. Property insurance policies obligate the insured to present

a claim to his or her insurance company for consideration. There

are three types of adjusters that could be involved in that process.

The definitions of the three types are as follows:

a. "company adjuster" means the insurance adjusters who

are employees of an insurance company. They represent

the interest of the insurance company and are paid by

the insurance company. They will not charge you a

fee,

b. "independent adjuster" means the insurance adjusters

who are hired on a contract basis by an insurance

company to represent the insurance company's interest

in the settlement of the claim. They are paid by your

insurance company. They will not charge you a fee,

and

c. "public adjuster" means the insurance adjusters who do

not work for any insurance company. They work for the

insured to assist in the preparation, presentation and

settlement of the claim. The insured hires them by

signing a contract agreeing to pay them a fee or

commission based on a percentage of the settlement, or

other method of compensation;

Oklahoma Statutes - Title 36. Insurance Page 1181

2. The insured is not required to hire a public adjuster to

help the insured meet his or her obligations under the policy, but

has the right to do so;

3. The public adjuster is not a representative or employee of

the insurer; and

4. The salary, fee, commission or other consideration is the

obligation of the insured, not the insurer.

D. The public adjuster shall provide the insurer a notification

letter which has been signed by the insured authorizing the public

adjuster to represent the insured's interest.

E. A public adjuster who receives, accepts or holds any funds

on behalf of an insured towards the settlement of a claim for loss

or damage shall deposit the funds in a non-interest-bearing escrow

or trust account in a financial institution that is insured by an

agency of the federal government in the public adjuster's home state

or where the loss occurred.

F. A public adjuster shall maintain a complete record of each

transaction as a public adjuster for at least five (5) years after

the termination of the transaction and the record shall be open to

examination by the Department at all times. The records required by

this subsection shall include the following:

1. Name of the insured;

2. Date, location and amount of the loss;

3. Copy of the signed contract between the public adjuster and

insured;

4. Name of the insurer, amount, expiration date and number of

each policy carried with respect to the loss;

5. Itemized statement of the insured's recoveries;

6. Itemized statement of all compensation received by the

public adjuster, from any source whatsoever, in connection with the

loss;

7. A register of all monies received, deposited, disbursed or

withdrawn in connection with a transaction with an insured,

including fees, transfers and disbursements from a trust account,

and all transactions concerning all interest-bearing accounts;

8. Name of the public adjuster who executed the contract; and

9. Name of the attorney representing the insured, if

applicable, and the name of the claims representatives of the

insurance company.

G. A public adjuster is obligated under his or her license to
sured,

including fees, transfers and disbursements from a trust account,

and all transactions concerning all interest-bearing accounts;

8. Name of the public adjuster who executed the contract; and

9. Name of the attorney representing the insured, if

applicable, and the name of the claims representatives of the

insurance company.

G. A public adjuster is obligated under his or her license to

serve with objectivity and complete loyalty to the interest of his

or her client alone; and to render to the insured such information,

counsel and service as within the knowledge, understanding and

opinion in good faith of the licensee will best serve the insured's

insurance claim needs and interest.

H. A public adjuster shall not solicit or attempt to solicit an

insured during the progress of a loss-producing occurrence.

Oklahoma Statutes - Title 36. Insurance Page 1182

I. A public adjuster shall not permit an unlicensed employee or

representative of the public adjuster to conduct business for which

a license is required.

J. A public adjuster shall not acquire any interest in salvage

of property subject to the contract with the insured unless the

public adjuster obtains written permission from the insured after

settlement of the claim with the insurer.

K. The public adjuster shall not refer or direct the insured to

obtain needed repairs or services in connection with a loss from any

person or entity with whom the public adjuster has a financial

interest or from whom the public adjuster may receive direct or

indirect compensation for the referral.

L. Any compensation or anything of value in connection with an

insured's specific loss that will be received by a public adjuster

from any third party shall be disclosed by the public adjuster to

the insured in writing including the source and amount of any such

compensation.

M. A public adjuster shall not enter into a contract or accept

a power of attorney that vests in the public adjuster the effective

authority to choose the persons who shall perform repair work.

N. A public adjuster may not agree to any loss settlement

without the insured's knowledge and consent.

O. On a percentage fee contract, a public adjuster may not

require, demand or accept any fee, retainer, compensation, deposit

or other thing of value prior to payment of any claim proceeds,

whether such payment is partial in nature or payment in full.