Okla. Stat. tit. 36, § 36-954
This is the official text of Okla. Stat. tit. 36, § 36-954, 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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Reunderwriting and rerating of insured - Refund of
Official statutory text
overpayment.
If it is determined through the dispute resolution process set
forth in the federal Fair Credit Reporting Act, 15 USC 1681i(a)(5),
that the credit information of a current insured was incorrect or
incomplete and if the insurer receives notice of such determination
from either the consumer reporting agency or from the insured, the
insurer shall reunderwrite and rerate the consumer within thirty
(30) days of receiving the notice. After reunderwriting or rerating
the insured, the insurer shall make any adjustments necessary,
consistent with its underwriting and rating guidelines. If an
insurer determines that the insured has overpaid premium, the
insurer shall refund to the insured the amount of overpayment
calculated back to the shorter of either the last twelve (12) months
of coverage or the actual policy period.
If it is determined through the dispute resolution process set
forth in the federal Fair Credit Reporting Act, 15 USC 1681i(a)(5),
that the credit information of a current insured was incorrect or
incomplete and if the insurer receives notice of such determination
from either the consumer reporting agency or from the insured, the
insurer shall reunderwrite and rerate the consumer within thirty
(30) days of receiving the notice. After reunderwriting or rerating
the insured, the insurer shall make any adjustments necessary,
consistent with its underwriting and rating guidelines. If an
insurer determines that the insured has overpaid premium, the
insurer shall refund to the insured the amount of overpayment
calculated back to the shorter of either the last twelve (12) months
of coverage or the actual policy period.
Status: in_force · Read it on the official government site
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