Oklahoma § 36-4033 - Definitions
Full text of Oklahoma Oklahoma Statutes § 36-4033 — Definitions, with citation guidance and answers to common questions.
§ 36-4033. Definitions
As used in the Life Insurance and Annuity Policyholders
Protection Act:
1. "Replacement" means any transaction in which a new life
insurance policy or a new annuity policy is to be purchased, and it
is known or should be known by the proposing agent, or by the
proposing insurer if there is no agent, that an existing individual
life insurance policy or an annuity policy has been, or is to be
lapsed, surrendered, converted, become extended insurance, or that
the cash loan value, or any portion thereof, is used or contemplated
for use in the future with the purchase of a new insurance policy or
annuity policy.
2. "Notice" means a document completed by the applicant and the
agent or insurer prior to completing a new application for a life
insurance policy or annuity policy when an agent is involved or
delivered with the policy when no agent is involved, which provides
information regarding replacement transactions. The document shall
be in substantially the same format for all insurers.
3. "Statement" means a document to be signed by the agent or
the applicant or both the agent and the applicant, which notifies
the replaced insurer of the replacement.
Added by Laws 1983, c. 80, § 3, eff. Nov. 1, 1983.
Oklahoma Statutes - Title 36. Insurance
Frequently Asked Questions About Oklahoma § 36-4033
What does Oklahoma Statutes § 36-4033 cover?
Section 36-4033 ("Definitions") 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 § 36-4033?
A common citation format is "Oklahoma Statutes § 36-4033" (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 § 36-4033 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.