Okla. Stat. tit. 47, § 47-7-503
This is the official text of Okla. Stat. tit. 47, § 47-7-503, part of Oklahoma’s Stat. tit. 47, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 47,." Browse the sections below, each linked to its official government source.
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Self-insurers
Official statutory text
(a) Any person in whose name more than twenty-five vehicles are
registered in this state may qualify as a self-insurer by obtaining
a certificate of self-insurance issued by the Department as provided
in subsection (b) of this section.
(b) The Department may, in its discretion, upon the application
of such a person, issue a certificate of self-insurance when it is
satisfied that such person is possessed and will continue to be
possessed of ability to pay judgment obtained against such person.
Such certificate may be issued authorizing a person to act as a
self-insurer for either property damage or bodily injury, or both.
(c) Upon not less than five (5) days' notice and a hearing
pursuant to such notice, the Department may upon reasonable grounds
cancel a certificate of self-insurance. Failure to pay any judgment
within thirty (30) days after such judgment shall have become final
shall constitute a reasonable ground for the cancellation of a
certificate of self-insurance.
registered in this state may qualify as a self-insurer by obtaining
a certificate of self-insurance issued by the Department as provided
in subsection (b) of this section.
(b) The Department may, in its discretion, upon the application
of such a person, issue a certificate of self-insurance when it is
satisfied that such person is possessed and will continue to be
possessed of ability to pay judgment obtained against such person.
Such certificate may be issued authorizing a person to act as a
self-insurer for either property damage or bodily injury, or both.
(c) Upon not less than five (5) days' notice and a hearing
pursuant to such notice, the Department may upon reasonable grounds
cancel a certificate of self-insurance. Failure to pay any judgment
within thirty (30) days after such judgment shall have become final
shall constitute a reasonable ground for the cancellation of a
certificate of self-insurance.
Status: in_force · Read it on the official government site
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