§ 1435.20. Limited lines producers--Qualification for license--Travel accident and baggage poli...
Oklahoma Statutes AnnotatedTitle 36. InsuranceEffective: May 12, 2021
Effective: May 12, 2021
36 Okl.St.Ann. § 1435.20
§ 1435.20. Limited lines producers--Qualification for license--Travel accident and baggage policies
2. Crop--insurance providing protection against damage to crops from unfavorable weather conditions, fire or lightning, flood, hail, insect infestation, disease or other yield-reducing conditions or perils provided by the private insurance market, or that is subsidized by the Federal Crop Insurance Corporation, including Multi-Peril Crop Insurance;
A car rental limited lines license issued to a rental or leasing company shall authorize any employee or authorized representative of the rental or leasing company to sell or offer coverage at each location at which the rental or leasing company operates. Employees or authorized representatives are not required to be individually licensed;
4. Credit--credit life, credit disability, credit property, credit unemployment, involuntary unemployment, mortgage life, mortgage guaranty, mortgage disability, guaranteed automobile protection insurance, or any other form of insurance offered in connection with an extension of credit that is limited to partially or wholly extinguishing that credit obligation and that is designated by the Insurance Commissioner as limited line credit insurance;
B. 1. An insurance producer or limited lines producer may solicit applications for and issue travel accident policies or baggage insurance by means of mechanical vending machines supervised by the insurance producer or limited lines producer only if the Insurance Commissioner shall determine that the form of policy to be sold is reasonably suited for sale and issuance through vending machines, that use of vending machines for the sale of policies would be of convenience to the public, and that the type of vending machine to be used is reasonably suitable and practical for the sale and issuance of policies. Policies so sold do not have to be countersigned.
2. The Commissioner shall issue to the insurance agent or limited insurance representative a special vending machine license for each such machine to be used. The license shall specify the name and address of the insurer and licensee, the kind of insurance and type of policy to be sold, and the place where the machine is to be in operation. The license shall expire, be renewable, and be suspended or revoked coincidentally with the insurance agent license or limited representative license of the licensee. The license fee for each vending machine shall be that stated in the provisions of Section 1435.23 of this title. Proof of existence of the license shall be displayed on or about each machine in such manner as the Commissioner may reasonably require.
Credits
Laws 1997, c. 418, § 60, eff. Nov. 1, 1997; Laws 1999, c. 36, § 1, eff. Nov. 1, 1999; Laws 1999, c. 333, § 1, eff. July 1, 1999; Laws 2000, c. 353, § 9, eff. Nov. 1, 2000. Renumbered from Title 36, § 1424.11 and amended by Laws 2001, c. 156, §§ 20, 35, eff. Nov. 1, 2001. Laws 2003, c. 150, § 4, eff. Nov. 1, 2003; Laws 2008, c. 184, § 12, eff. July 1, 2008; Laws 2013, c. 224, § 1, eff. Nov. 1, 2013; Laws 2014, c. 145, § 1, eff. Nov. 1, 2014; Laws 2018, c. 159, § 1, eff. Nov. 1, 2018; Laws 2019, c. 263, § 1, eff. Nov. 1, 2019; Laws 2021, c. 478, § 10, emerg. eff. May 12, 2021.
36 Okl. St. Ann. § 1435.20, OK ST T. 36 § 1435.20
Current with emergency effective legislation through Chapter 257 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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