- (a) If at any time the bond posted fails to meet the minimum funding requirements, the permit holder shall be notified by the Insurance Department and shall post an additional or amended bond within ten (10) days following notification. The additional or amended bond shall be sufficient in size to satisfy the provisions of 36 O.S. §§ 7126 and 7127.
- (b) A bond posted in connection with Cemetery Merchandise Trust Act shall be filed in the form and manner prescribed by the Insurance Commissioner. Any variance from this form must have the prior written approval of the Insurance Commissioner. An insurer shall provide thirty (30) day's written notice to the Insurance Commissioner prior to cancelling any bond required by the Cemetery Merchandise Trust Act.
Added at 28 Ok Reg 214, eff 10-19-10 (emergency)
Added at 28 Ok Reg 1964, eff 7-14-11
Amended at 39 Ok Reg 1851, eff 9-11-22
Amended at 40 Ok Reg 1628, eff 9-1-23