Oklahoma § 10-1430.26 - Provider prohibited from having insurable interest in
Full text of Oklahoma Oklahoma Statutes § 10-1430.26 — Provider prohibited from having insurable interest in, with citation guidance and answers to common questions.
§ 10-1430.26. Provider prohibited from having insurable interest in
life of resident or being beneficiary of life insurance policy Appointment as guardian or conservator or holding power of attorney
prohibited.
A. No provider or licensee, including a corporate officer,
major stockholder or member of the board of directors, member of the
firm, major member of the limited liability company or manager,
major partner of the partnership when the provider or licensee is a
firm, partnership, limited liability company, or corporation,
administrator, or employee of a group home subject to the provisions
of the Group Homes for Persons with Developmental or Physical
Disabilities Act shall have an insurable interest in the life of a
resident of the home unless the provider, licensee, administrator,
or employee is related to the resident of the home by blood,
marriage or adoption.
B. No provider or licensee, including a corporate officer,
major stockholder, or member of the board of directors, member of
the firm, major member of the limited liability company or manager,
major partner of the partnership when the provider or licensee is a
firm, partnership, limited liability company, or corporation,
administrator, or employee of a group home shall be entitled or
assigned to any benefits of a life insurance policy on the resident
unless the provider, licensee, administrator, or employee is related
to the resident of the home by blood, marriage or adoption.
C. No provider or licensee, including a corporate officer,
major stockholder or member of the board of directors, member of the
firm, major member of the limited liability company or manager,
major partner of the partnership, when the provider or licensee is a
firm, partnership, limited liability company, or corporation,
administrator, or employee of a group home shall be appointed
guardian or conservator of a resident of the home or hold power of
attorney for a resident of the home unless said provider, licensee,
administrator or employee is a relative of the resident and is
otherwise eligible for appointment by a court as the guardian of the
resident.
Added by Laws 1987, c. 225, § 26, eff. July 1, 1987. Amended by
Laws 1996, c. 155, § 26, eff. Nov. 1, 1996; Laws 1996, c. 354, § 26,
eff. Nov. 1, 1996. Renumbered from § 1-818.26 of Title 63 by Laws
1996, c. 354, § 56, eff. Nov. 1, 1996. Amended by Laws 2006, c.
137, § 21, eff. Nov. 1, 2006.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 10-1430.26
What does Oklahoma Statutes § 10-1430.26 cover?
Section 10-1430.26 ("Provider prohibited from having insurable interest in") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 10-1430.26?
A common citation format is "Oklahoma Statutes § 10-1430.26" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 10-1430.26 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.