Okla. Stat. tit. 36, § 1109
Validity of Surplus Line Insurance - Notice of Limitations of Coverage
Effective Nov 1, 2010Laws 1957, HB 501, p. 258, § 1109, emerg. eff. July 1, 1957; Amended by Laws 1986, HB 1983, c. 251, § 10, eff. November 1, 1986; Amended by Laws 1991, SB 175, c. 146, § 3, eff. September 1, 1991; Amended by Laws 2006, HB 2905, c. 264, § 27, emerg. eff. July 1, 2006 (superseded document available); Amended by Laws 2010, SB 2054, c. 222, § 18, eff. November 1, 2010 (superseded document available).
- A. Insurance contracts procured as surplus line coverage from surplus lines insurers in accordance with this article shall be fully valid and enforceable as to all parties, and shall be given recognition in all matters and respects to the same effect as like contracts issued by authorized insurers.
- B. Insurance contracts procured as surplus line coverage shall contain in bold-face type notification stamped by the broker or surplus lines insurer on the declaration page of the policy that the contracts are not subject to the protection of any guaranty association in the event of liquidation or receivership of the insurer.
Laws 1957, HB 501, p. 258, § 1109, emerg. eff. July 1, 1957; Amended by Laws 1986, HB 1983, c. 251, § 10, eff. November 1, 1986; Amended by Laws 1991, SB 175, c. 146, § 3, eff. September 1, 1991; Amended by Laws 2006, HB 2905, c. 264, § 27, emerg. eff. July 1, 2006 (superseded document available); Amended by Laws 2010, SB 2054, c. 222, § 18, eff. November 1, 2010 (superseded document available).