Oklahoma § 47-1059 - Insurable interest
Full text of Oklahoma Oklahoma Statutes § 47-1059 — Insurable interest, with citation guidance and answers to common questions.
§ 47-1059. Insurable interest
A. Notwithstanding any other law, statute, rule or regulation
to the contrary, a peer-to-peer car sharing program shall have an
insurable interest in a shared vehicle during the car sharing
period.
B. Nothing in this section shall create liability on a peer-topeer car sharing program to maintain the coverage mandated by
Section 4 of this act.
C. A peer-to-peer car sharing program may own and maintain as
the named insured one or more policies of motor vehicle liability
insurance that provide coverage for:
1. Liabilities assumed by the peer-to-peer car sharing program
under a peer-to-peer car sharing program agreement;
2. Liability of the shared vehicle owner;
3. Damage or loss to the shared motor vehicle; or
4. Liability of the shared vehicle driver.
Added by Laws 2021, c. 280, § 10, eff. Nov. 1, 2021.
Frequently Asked Questions About Oklahoma § 47-1059
What does Oklahoma Statutes § 47-1059 cover?
Section 47-1059 ("Insurable interest") 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 § 47-1059?
A common citation format is "Oklahoma Statutes § 47-1059" (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 § 47-1059 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.