Okla. Stat. tit. 36, § 6125.1
Maximum Amount of Principal Organization May Legally Receive - Annual Increase
Effective Nov 1, 2010Laws 1988, SB 612, c. 118, § 7, eff. November 1, 1988; Amended by Laws 2000, SB 1420, c. 113, § 1, emerg. eff. July 1, 2000; Amended by Laws 2000, SB 108, c. 353, § 44, eff. November 1, 2000 (superseded document available); Amended by Laws 2010, HB 1458, c. 354, § 1, eff. November 1, 2010 (superseded document available).
- A. The maximum amount of principal which an organization may legally receive from any one individual pursuant to a contract establishing a fund for prepaid funeral benefits pursuant to paragraph 2 of subsection B of Section 6125 of this title shall be Twenty Thousand Dollars ($20,000.00).
- B. The maximum allowable amount of principal for subsequent years shall be increased annually by a percentage equal to the previous year’s increase in the national Consumer Price Index (CPI). The Insurance Commissioner shall determine the amount of the increase, if any, on April 1 of each year.
Laws 1988, SB 612, c. 118, § 7, eff. November 1, 1988; Amended by Laws 2000, SB 1420, c. 113, § 1, emerg. eff. July 1, 2000; Amended by Laws 2000, SB 108, c. 353, § 44, eff. November 1, 2000 (superseded document available); Amended by Laws 2010, HB 1458, c. 354, § 1, eff. November 1, 2010 (superseded document available).