Oklahoma § 36-4023 - Standard provisions required in reversionary annuities
Full text of Oklahoma Oklahoma Statutes § 36-4023 — Standard provisions required in reversionary annuities, with citation guidance and answers to common questions.
§ 36-4023. Standard provisions required in reversionary annuities
A. Except as stated herein, no contract for a reversionary
annuity shall be delivered or issued for delivery in this state
unless it contains in substance each of the following provisions:
Oklahoma Statutes - Title 36. Insurance
1. Any such reversionary annuity contract shall contain the
provisions specified in Sections 4017, 4018, 4019, 4021 and 4022 of
this article, except that under said Section 4017 the insurer may at
its option provide for an equitable reduction of the amount of the
annuity payments in settlement of an overdue or deferred payment in
lieu of providing for deduction of such payments from an amount
payable upon settlement under the contract.
2. In such reversionary annuity contracts there shall be a
provision that the contract may be reinstated at any time within
three (3) years from the date of default in making stipulated
payments to the insurer, upon production of evidence of insurability
satisfactory to the insurer, and upon condition that all overdue
payments and any indebtedness to the insurer on account of the
contract be paid, or, within the limits permitted by the then cash
values of the contract, reinstated, with interest as to both
payments and indebtedness at a rate to be specified in the contract
but not exceeding six percent (6%) per annum compounded annually.
B. This section shall not apply to group annuities or to
annuities included in life insurance policies, and any of such
provisions not applicable to single premium annuities shall not to
that extent be incorporated therein.
Laws 1957, p. 374, § 4023.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 36-4023
What does Oklahoma Statutes § 36-4023 cover?
Section 36-4023 ("Standard provisions required in reversionary annuities") 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 § 36-4023?
A common citation format is "Oklahoma Statutes § 36-4023" (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 § 36-4023 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.