Okla. Stat. tit. 36, § 36-6459
This is the official text of Okla. Stat. tit. 36, § 36-6459, 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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Effectuation of purchase through licensed broker or agent
Official statutory text
– Notice of risks not covered – Deductibles or self-insured
retention – Aggregate limits standards.
A. A purchasing group shall not purchase insurance from a risk
retention group that is not chartered in a state or from an insurer
not licensed to transact insurance in this state, unless the
purchase is effected through a licensed agent or broker acting
pursuant to the surplus lines laws and regulations of this state.
B. A purchasing group which obtains liability insurance from an
insurer not admitted in this state or a risk retention group shall
inform each of the members of the group which has a risk resident or
located in this state that the risk is not protected by an insurance
insolvency guaranty fund in this state and that the risk retention
group or the insurer may not be subject to all insurance laws and
regulations of this state.
C. No purchasing group may purchase insurance providing for a
deductible or self-insured retention applicable to the group as a
Oklahoma Statutes - Title 36. Insurance Page 1206
whole. However, coverage may provide for a deductible or self-
insured retention applicable to individual members.
D. Purchases of insurance by purchasing groups are subject to
the same standards regarding aggregate limits which are applicable
to all purchases of group insurance.
retention – Aggregate limits standards.
A. A purchasing group shall not purchase insurance from a risk
retention group that is not chartered in a state or from an insurer
not licensed to transact insurance in this state, unless the
purchase is effected through a licensed agent or broker acting
pursuant to the surplus lines laws and regulations of this state.
B. A purchasing group which obtains liability insurance from an
insurer not admitted in this state or a risk retention group shall
inform each of the members of the group which has a risk resident or
located in this state that the risk is not protected by an insurance
insolvency guaranty fund in this state and that the risk retention
group or the insurer may not be subject to all insurance laws and
regulations of this state.
C. No purchasing group may purchase insurance providing for a
deductible or self-insured retention applicable to the group as a
Oklahoma Statutes - Title 36. Insurance Page 1206
whole. However, coverage may provide for a deductible or self-
insured retention applicable to individual members.
D. Purchases of insurance by purchasing groups are subject to
the same standards regarding aggregate limits which are applicable
to all purchases of group insurance.
Status: in_force · Read it on the official government site
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