Oklahoma § 36-7127 - Surety bond in lieu of trust requirement
Full text of Oklahoma Oklahoma Statutes § 36-7127 — Surety bond in lieu of trust requirement, with citation guidance and answers to common questions.
§ 36-7127. Surety bond in lieu of trust requirement
A. As an alternative to the trust requirements of Section 7126
of this title, an organization may purchase a surety bond in an
amount not less than the minimum funding requirement.
B. The surety bond shall be made payable to the State of
Oklahoma for the benefit of the Insurance Commissioner and all
purchasers of prepaid cemetery merchandise. The bond shall be
approved by the Commissioner.
C. The Commissioner may establish by rule the requirements and
guidelines for the surety bonds required pursuant to this section.
D. A surety bond maintained under the provisions of this
section or Section 7124 of this title may be cancelled or terminated
by the surety only by providing notice to the Commissioner, no later
than thirty (30) days before the effective date of the cancellation
or termination. Notwithstanding the cancellation, termination, or
expiration of a bond maintained under this section or Section 7124
of this title, the surety shall remain liable for obligations
arising during the term of the bond and prior to the termination,
cancellation or expiration.
Added by Laws 1989, c. 297, § 23, eff. Nov. 1, 1989. Amended by
Laws 1995, c. 82, § 9, eff. Nov. 1, 1995; Laws 2009, c. 3, § 8, eff.
July 1, 2009; Laws 2010, c. 58, § 17, eff. July 1, 2010. Renumbered
from § 307 of Title 8 by Laws 2010, c. 58, § 44, eff. July 1, 2010.
Amended by Laws 2013, c. 269, § 22, eff. Nov. 1, 2013; Laws 2025, c.
55, § 12, eff. Nov. 1, 2025.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 36-7127
What does Oklahoma Statutes § 36-7127 cover?
Section 36-7127 ("Surety bond in lieu of trust requirement") 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 § 36-7127?
A common citation format is "Oklahoma Statutes § 36-7127" (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 § 36-7127 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.