Oklahoma § 36-1448 - Administrator's bond - Amount - Requirements - Purpose limits of cumulative liability - Cancellation
Full text of Oklahoma Oklahoma Statutes § 36-1448 — Administrator's bond - Amount - Requirements - Purpose limits of cumulative liability - Cancellation, with citation guidance and answers to common questions.
§ 36-1448. Administrator's bond - Amount - Requirements - Purpose limits of cumulative liability - Cancellation
A. Every administrator shall be bonded.
B. Prior to issuance of a license as an administrator, the
applicant shall file with the Insurance Commissioner and thereafter
keep in effect as long as the license remains in effect, a surety
bond in an amount sufficient to protect those with whom the
administrator deals, as determined by the Insurance Commissioner,
which amount shall not be less than Ten Thousand Dollars
($10,000.00), and in a form acceptable to the Insurance
Commissioner. The bond is intended to secure performance of the
administrator in conformity with the laws, rules and regulations
governing third-party administrators. The bond shall be for the
benefit of parties injured by the actions of the administrator.
C. In no event shall the cumulative liability of the Surety be
more than the penal sum of the bond. In no event shall the Surety
cancel the bond without first giving thirty (30) days' written
notice to the principal and the Insurance Commissioner.
Added by Laws 1983, c. 89, § 8, eff. Nov. 1, 1983. Amended by Laws
1987, c. 172, § 2, eff. Nov. 1, 1987; Laws 1988, c. 164, § 2, emerg.
eff. May 18, 1988; Laws 1997, c. 418, § 82, eff. Nov. 1, 1997.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 36-1448
What does Oklahoma Statutes § 36-1448 cover?
Section 36-1448 ("Administrator's bond - Amount - Requirements - Purpose limits of cumulative liability - Cancellation") 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 § 36-1448?
A common citation format is "Oklahoma Statutes § 36-1448" (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 § 36-1448 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.