Oklahoma § 36-3007 - Liability of underwriters; limitation
Full text of Oklahoma Oklahoma Statutes § 36-3007 — Liability of underwriters; limitation, with citation guidance and answers to common questions.
§ 36-3007. Liability of underwriters; limitation
An underwriter at a Lloyd's may limit his total liability on all
risks to the amount of his subscription as expressed in his power of
attorney and agreement with the attorney-in-fact; provided at least
half of the subscription of each underwriter must be paid or
contributed to the guaranty fund in cash or admissible securities.
Each underwriter shall be responsible solely for his own liability
as fixed in the contract of insurance and shall not be liable as a
partner and in no event shall the liability of an underwriter exceed
the amount of his total underwriters agreement executed in favor of
his respective successor attorney or attorneys-in-fact.
Laws 1957, p. 361, § 3007.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 36-3007
What does Oklahoma Statutes § 36-3007 cover?
Section 36-3007 ("Liability of underwriters; limitation") 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 § 36-3007?
A common citation format is "Oklahoma Statutes § 36-3007" (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 § 36-3007 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.