reglab/housing_qa huggingface dataset:
36 OK Stat § 36-4080 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4080. Enforcement of compliance.

|A. If the Insurance Commissioner or an independent hearing examiner finds that a violation of this act has occurred, the Insurance Commissioner shall enforce compliance with this act by sending a letter by certified mail, return receipt requested, demanding that the charitable organization comply with this act. If the charitable organization fails to comply with the demand within thirty (30) days of receipt of the letter, the charitable organization may be censured by the Insurance Commissioner or may be subject to a civil fine of not less than One Thousand Dollars ($1,000.00) but not more than Ten Thousand Dollars ($10,000.00) until such time as the charitable organization brings itself into compliance with this act. |B. If the Insurance Commissioner or an independent hearing examiner finds that the violation or threatened violation of this act is willful and is substantially injurious to the public, the Commissioner may file an action in district court to prevent, restrain or enjoin such violation or threatened violation.C. The failure of a charitable organization to comply with the requirements of this act does not prevent a charitable gift annuity from otherwise being a charitable gift annuity under the Internal Revenue Code.Added by Laws 1998, c. 141, § 10, emerg. eff. April 21, 1998.
36 OK Stat § 36-4081 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4081. Annuities issued before effective date of act.

|A charitable gift annuity issued before the effective date of this act which does not meet the definition of a qualified charitable gift annuity under this act shall be deemed to be a qualified charitable gift annuity under this act. |Added by Laws 1998, c. 141, § 11, emerg. eff. April 21, 1998.
36 OK Stat § 36-4082 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4082. Issuance of annuities not to constitute certain agreements, contracts or combinations.

|The issuance of a qualified charitable gift annuity by a qualified charitable organization is not an act, agreement, contract, or combination in the form of trust, or otherwise, or conspiracy in restraint of trade or commerce within this state. |Added by Laws 1998, c. 141, § 12, emerg. eff. April 21, 1998.
36 OK Stat § 36-4101.1 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4101.1. Extension of policies to insure dependents - Payment of premiums - Conversion rights.

|A. Insurance under any group life insurance policy issued pursuant to paragraphs 1, 3, 4, 5 and 6 of Section 4101 of this title, may be extended to insure the dependents, or any class or classes thereof, of each insured employee or member who so elects in amounts in accordance with a plan which precludes individual selection. The term "dependent" means the spouse of the insured employee or member or an insured employee's or member's child under twenty-six (26) years of age or his or her child twenty-six (26) years or older who is attending an educational institution and relying upon the insured employee or member for financial support. |B. Premiums for the insurance on such dependents shall be paid by the policyholder either wholly from policyholder's funds, or from funds contributed wholly by the employees or members, or partly from funds contributed by the policyholder and partly by the employees or members.C. A dependent pursuant to this section shall have the same conversion right as to the insurance on his or her life as is vested in the employee or union member.D. Notwithstanding the provisions of paragraph 7 of Section 4103 of this title, only one certificate need be issued for each family unit if a statement concerning any dependent's coverage is included in such certificate.Added by Laws 1969, c. 234, § 1, emerg. eff. April 21, 1969. Amended by Laws 1978, c. 162, § 5, eff. Oct. 1, 1978; Laws 1988, c. 29, § 1, eff. Nov. 1, 1988; Laws 1997, c. 418, § 95, eff. Nov. 1, 1997; Laws 2007, c. 125, § 21, eff. July 1, 2007; Laws 2016, c. 73, § 6, eff. Nov. 1, 2016; Laws 2017, c. 287, § 5, eff. Nov. 1, 2017.
36 OK Stat § 36-4104 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4104. Right to individual policy; notice of right; time for exercising right.

|If any individual insured under a group life insurance policy hereafter delivered in this state becomes entitled under the terms of such policy to have an individual policy of life insurance issued to him without evidence of insurability, subject to making of application and payment of the first premium within the period specified in such policy, and if such individual is not given notice of the existence of such right at least fifteen (15) days prior to the expiration date of such period, then, in such event the individual shall have an additional period within which to exercise such right, but nothing herein contained shall be construed to continue any insurance beyond the period provided in such policy. This additional period shall expire fifteen (15) days next after the individual is given such notice but in no event shall such additional period extend beyond sixty (60) days next after the expiration date of the period provided in such policy. Written notice presented to the individual or mailed by the policyholder to the last-known address of the individual or mailed by the insurer to the last-known address of the individual as furnished by the policyholder shall constitute notice for the purpose of this paragraph. |Laws 1957, p. 384, § 4104.
36 OK Stat § 36-4105 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4105. Group annuity contracts; standard provisions.

|No group annuity contract shall be delivered or issued for delivery in this state and no certificate shall be used in connection therewith unless it contains in substance the provisions set forth in Sections 4106 to 4110, inclusive, of this article, to the extent that such provisions are applicable to such contract or to such certificate, as the case may be, or provisions which are more favorable to annuitants, or not less favorable to annuitants and more favorable to the policyholders. |Laws 1957, p. 384, § 4104.
36 OK Stat § 36-4106 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4106. Group annuity; grace period.

|In group annuity contracts there shall be a provision that there shall be a period of grace, either of thirty (30) days or of one (1) month, within which any stipulated payment to be remitted by the holder to the insurer, falling due after one (1) year from date of issue, may be made, subject, at the option of the insurer, to an interest charge thereon at a rate to be specified in the contract, which shall not exceed six percent (6%) per annum for the number of days of grace elapsing before such payment. |Laws 1957, p. 384, § 4106.
36 OK Stat § 36-4107 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4107. Group annuity; entire contract.

|In group annuity contracts there shall be a provision specifying the document or documents which shall constitute the entire contract between parties. The document or documents so specified shall be only (a) the contract, (b) the contract together with the application of the holder of which a copy is attached thereto, or (c) the contract together with the application of the holder of which a copy is attached thereto, and the individual applications of annuitants on file with the insurer and referred to therein. |Laws 1957, p. 384, § 4104.
36 OK Stat § 36-4108 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4108. Group annuity; misstatements.

|In group annuity contracts there shall be a provision, with an appropriate reference thereto in the certificate, for the equitable adjustment of the benefits payable under the contract or of the stipulated payments thereunder, if it be found that the sex, age, service, salary or any other fact determining the amount of any stipulated payment or the amount or date or dates of payment of any benefit with respect to any annuitant covered thereby has been misstated. |Laws 1957, p. 385, § 4108.
36 OK Stat § 36-4109 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4109. Group annuity; nonforfeiture benefits.

|In group annuity contracts there shall be a provision or provisions, with an appropriate reference thereto in the certificate, specifying the nature and basis of ascertainment of the benefits which will be available to an annuitant who contributes to the cost of the annuity and the conditions of payment thereof in the event of either the termination of employment of the annuitant, except by death, or the discontinuance of stipulated payments under the contract. Such provision or provisions shall, in either of such events, make available to an annuitant who contributes to the cost of the annuity a paid-up annuity payable commencing at a fixed date in an amount at least equal to that purchased by the contributions of the annuitant, determinable as of the respective dates of payment of the several contributions, as shown by a schedule in the contract for that purpose, based upon the same mortality table, rate of interest and loading formula used in computing the stipulated payments under such contract. Such provision or provisions may, by way of exception to the foregoing, provide that if the amount of the annuity determined as aforesaid from such fixed commencement date would be less than One Hundred Twenty Dollars ($120.00) annually, the insurer may at its option, in lieu of granting such paid-up annuity, pay a cash surrender value at least equal to that hereinafter provided. |If cash surrender value, in lieu of such paid-up annuity, is allowed to the annuitant by the terms of such contract, it may be either in a single sum or in equal installments over a period of not more than twelve (12) months and it shall at least equal either (a) or (b), whichever is less:(a) The amount of reserve attributable to the annuitant's contributions less a surrender charge not exceeding thirty-five percent (35%) of the average annual contribution made by the annuitant; or(b) The amount which would be payable as a death benefit at the date of surrender. Such contract shall also provide that in case of the death of an annuitant before the commencement date of the annuity, the insurer shall pay a death benefit at least equal to the aggregate amount of the annuitant's contributions without interest. If any benefits are available to the holder in either of such events, the contract shall contain a provision or provisions specifying the nature and basis of ascertainment of such benefits.Laws 1957, p. 385, § 4109.
36 OK Stat § 36-4110 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4110. Group annuity; certificates.

|In group annuity contracts there shall be a provision that the insurer will issue to the holder of the contract for delivery to each annuitant who contributes thereunder an individual certificate setting forth a statement in substance of the benefits to which he is entitled under such contract. |Laws 1957, p. 385, § 4110.
36 OK Stat § 36-4111 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4111. "Employee life insurance" defined.

|"Employee life insurance" is that plan of life insurance, other than salary savings life insurance or pension trust insurance and annuities, under which individual policies are issued to the employees of any employer and where such policies are issued on the lives of not less than five employees at date of issue. Premiums for such policies shall be paid by the employer or the trustee of a fund established by the employer either wholly from the employer's funds, or funds contributed by him, or partly from such funds and partly from funds contributed by the insured employees, or from funds contributed wholly by the insured employees. |Laws 1957, p. 385, § 4111.
36 OK Stat § 36-4112 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4112. Payment of proceeds - Time.

|An insurer shall pay the proceeds of any benefits under group life insurance policy not more than thirty (30) days after the insurer has received proof of death of the insured. If the proceeds are not paid within this period, the insurer shall pay interest on the proceeds, at a rate which is not less than the current rate of interest on death proceeds on deposit with the insurer, from the date of death of the insured to the date when the proceeds are paid. Payment shall be deemed to have been made on the date an electronic payment is made or a check, draft or other valid instrument which is equivalent to payment was placed in the U.S. mails in a properly addressed, postpaid envelope; or, if not so posted, on the date of delivery of such instrument to the beneficiary. |Added by Laws 1978, c. 162, § 4, eff. Oct. 1, 1978. Amended by Laws 1997, c. 418, § 96, eff. Nov. 1, 1997; Laws 2021, c. 478, § 27, emerg. eff. May 12, 2021.
36 OK Stat § 36-4201 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4201. Scope of article.

|The provisions of this article apply only to industrial life insurance policies. Section 2 of this act (Return of policy within ten days), Section 3 of this act (Interest on proceeds), and Sections 4015 (Excluded or restricted coverage), 4024 (Limitation of liability), 4025 (Incontestability after reinstatement), 4028 (Dual or multiple pay policies prohibited), and 4029 (Nonforfeiture provisions; life insurance) of Article 40 (Life Insurance and Annuities) shall also apply to industrial life insurance. |Added by Laws 1957, p. 386, § 4201. Amended by Laws 1978, c. 162, § 6, eff. Oct. 1, 1978.
36 OK Stat § 36-4202 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4202. Industrial life insurance defined.

|For the purposes of this article "Industrial Life Insurance" shall mean that form of life insurance where the face amount of the policy does not exceed One Thousand Dollars ($1,000.00); and either |1. Under which the premiums are payable weekly, or2. Under which the premiums are payable monthly or oftener, but less often than weekly; provided that in either case the words "Industrial Policy" are printed on the face of the policy as part of the descriptive matter thereof.Laws 1957, p. 386, § 4202.
36 OK Stat § 36-4203 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4203. Required provisions.

|No policy of industrial life insurance shall be delivered or be issued for delivery in this state unless it contains in substance the applicable provisions set forth in sections 4204 to 4216, inclusive, of this article. |Laws 1957, p. 386, § 4203.
36 OK Stat § 36-4204 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4204. Grace period.

|There shall be a provision that the insured is entitled to a grace period of four (4) weeks within which the payment of any premiums after the first may be made, except that in policies the premiums for which are payable monthly, the period of grace shall be one (1) month, but not less than thirty (30) days, and that during the period of grace the policy shall continue in full force, but if during the grace period the policy becomes a claim, then any overdue and unpaid premiums may be deducted from any settlement under the policy. |Laws 1957, p. 386, § 4204.
36 OK Stat § 36-4205 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4205. Application and policy as entire contract; statements in application as representations.

|There shall be a provision that the policy shall constitute the entire contract between the parties, or, if a copy of the application is endorsed upon or attached to the policy when issued, a provision that the policy and the application therefor shall constitute the entire contract. If the application is so made a part of the contract, the policy shall also provide that all statements made by the applicant in such application shall, in the absence of fraud, be deemed to be representations and not warranties. |Laws 1957, p. 386, § 4205.
36 OK Stat § 36-4206 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4206. Incontestability.

|There shall be a provision that the policy (exclusive of provisions relating to disability benefits or to additional benefits in the event of death by accident or accidental means) shall be incontestable, except for nonpayment of premiums, after it has been in force during the lifetime of the insured for a period of two (2) years from its date of issue. |Laws 1957, p. 386, § 4206.
36 OK Stat § 36-4207 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4207. Misstatement of age.

|There shall be a provision that if it is found that the age of the individual insured, or the age of any other individual considered in determining the premium, has been misstated, any amount payable or benefit accruing under the policy shall be such as the premium would have purchased at the correct age or ages. |Laws 1957, p. 386, § 4207.
36 OK Stat § 36-4208 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4208. Dividends.

|If a participating policy, there shall be a provision that the insurer shall annually ascertain and apportion any divisible surplus accruing on the policy, except that at the option of the insurer such participation may be deferred to the end of the fifth policy year. This provision shall not prohibit the payment of additional dividends on default of payment of premiums or termination of the policy. |Laws 1957, p. 386, § 4208.
36 OK Stat § 36-4209 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4209. Nonforfeiture benefits.

|There shall be provisions for nonforfeiture benefits and cash surrender values as required by Section 4029 of Article 40 (Life Insurance and Annuities). |Laws 1957, p. 386, § 4209.
36 OK Stat § 36-4210 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4210. Reinstatement.

|There shall be a provision that unless the policy has been surrendered for its cash surrender value or unless the paid-up term insurance, if any, has expired, the policy will be reinstated at any time within two (2) years from the date of premium default upon written application therefor, the production of evidence of insurability satisfactory to the insurer, the payment of all premiums in arrears, and the payment or reinstatement of any other indebtedness to the insurer upon the policy, all with interest at a rate not exceeding six percent (6%) per annum compounded annually. |Laws 1957, p. 386, § 4210.
36 OK Stat § 36-4211 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4211. Settlement.

|There shall be a provision that when the policy becomes a claim by the death of the insured, settlement shall be made upon surrender of the policy and receipt of due proof of death. |Laws 1957, p. 387, § 4211.
36 OK Stat § 36-4212 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4212. Authority to alter contract.

|There shall be a provision that no agent shall have the power or authority to waive, change or alter any of the terms or conditions of any policy, except that at the option of the insurer the terms or conditions may be changed by an endorsement signed by a duly-authorized officer of the insurer. |Laws 1957, p. 387, § 4212.
36 OK Stat § 36-4213 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4213. Beneficiary; change of beneficiary; payment of proceeds.

|A. Each such policy shall have a space on the front or back page of the policy for the name of the beneficiary designated; and shall contain a reservation of the right to designate or change the beneficiary after the issuance of the policy. |B. The policy may also provide that no designation or change of beneficiary shall be binding on the insurer unless endorsed on the policy by the insurer, and that the insurer may refuse to endorse the name of any proposed beneficiary who does not appear to the insurer to have an insurable interest in the life of the insured. Such a policy may also provide that if the beneficiary designated in the policy does not surrender the policy with due proof of death within the period stated in the policy, which shall be not less than thirty (30) days after the death of the insured, or if the beneficiary is the estate of the insured or is a minor, or dies before the insured, or is not legally competent to give a valid release, then the insurer may make payment thereunder to the executor or administrator of the insured, or to any of the insured's relatives by blood or legal adoption or connection by marriage, or to any person appearing to the insurer to be equitably entitled thereto by reason of having been named beneficiary, or by reason of having incurred expense for the maintenance, medical attention or burial of the insured. Such policy may also include a similar provision applicable to any other payment due under the policy.Laws 1957, p. 387, § 4213.
36 OK Stat § 36-4214 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4214. Direct payment of premiums.

|In the case of weekly premium policies, there may be a provision that upon proper notice to the insurer, while premiums on the policy are not in default beyond the grace period, of the intention to pay future premiums directly to the insurer at its home office or any office designated by the insurer for the purpose, the insurer will, at the end of each period of a year from the due date of the first premium so paid, for which period such premiums are so paid continuously without default beyond the grace period, refund a stated percentage of the premiums in an amount which fairly represents the savings in collection expense. |Laws 1957, p. 387, § 4214.
36 OK Stat § 36-4215 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4215. Conversion.

|There may be a provision in the case of industrial policies granting to the insured, upon proper written request and upon presentation of evidence of insurability satisfactory to the insurer, the privilege of converting any industrial insurance policy to any form of life insurance with less frequent premium payments regularly issued by the insurer, in accordance with terms and conditions agreed upon with the insurer. The privilege of making such conversion need be granted only if the insurer's industrial policies on the life insured, in force as premium paying insurance and on which conversion is requested, grant benefits in event of death, exclusive of additional accidental death benefits and exclusive of any dividend additions, in an amount not less than the minimum amount of such insurance with less frequent premium payments issued by the insurer at the age of the insured on the plan of industrial or ordinary insurance desired. |Laws 1957, p. 387, § 4215.
36 OK Stat § 36-4216 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4216. Title of policy.

|There shall be a title on the face of each such policy briefly describing its form. |Laws 1957, p. 388, § 4216.
36 OK Stat § 36-4217 (2021)
2021 Oklahoma Statutes|Title 36. Insurance|§36-4217. Provisions inapplicable to single premium or term policies.

|Any of the provisions required by Sections 4214 to 4216, inclusive, of this article or any portion thereof which are not applicable to single premium or term policies or to policies issued or granted pursuant to nonforfeiture provisions shall to that extent not be incorporated therein. |Laws 1957, p. 388, § 4217.