Oklahoma § 36-6214 - Bond of public adjuster

§ 36-6214. Bond of public adjuster

A. Prior to the issuance of a license as a public adjuster or

any renewal of the license, the applicant shall file with the

Commissioner a surety bond in favor of the people of the State of

Oklahoma, executed by a surety company authorized to do business in

the state, in the amount of Twenty-five Thousand Dollars

($25,000.00). The total aggregate liability on the bond may be

limited to the payment of Twenty-five Thousand Dollars ($25,000.00).

The bond shall be conditioned on the accounting by the adjuster to

any insured whose claim the adjuster is handling for monies or any

other settlement received in connection with the claim.

B. Any bond shall remain in force concurrently with the license

or until the surety is released from liability by the Commissioner,

or until canceled by the surety. Without prejudice to any liability

accrued prior to the cancellation, the surety may cancel a bond upon

thirty (30) days' advance notice in writing filed with the

Commissioner.

C. Effective December 1, 1983, such bond shall be required of

all public adjusters.

Added by Laws 1973, c. 178, § 14. Amended by Laws 1983, c. 129, §

13, eff. Nov. 1, 1983; Laws 2015, c. 297, § 2, eff. Nov. 1, 2015.