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§ 140.6. Promulgation of rules

Oklahoma Statutes AnnotatedTitle 15. ContractsEffective: November 1, 2022

Oklahoma Statutes Annotated
Title 15. Contracts
Chapter 2. Manner of Creating Contracts
Motor Vehicle Financial Protection Products
Effective: November 1, 2022
15 Okl.St.Ann. § 140.6
§ 140.6. Promulgation of rules
Currentness
The Insurance Commissioner shall promulgate rules necessary to enforce the provisions of this act. After proper notice and opportunity for hearing the Commissioner may:
1. Order the creditor, provider, administrator, or any other person not in compliance with this act to cease and desist from product related operations which are in violation of this act; and
2. Impose a penalty not to exceed Five Hundred Dollars ($500.00) per violation and no more than Ten Thousand Dollars ($10,000.00) for aggregated violations of a similar nature. For purposes of this section, “violations of a similar nature” means the violation consisted of the same or similar course of conduct, action, or practice, irrespective of the number of times the action, conduct, or practice which is determined to be a violation of this act occurred.

Credits

Laws 2022, c. 16, § 5, eff. Nov. 1, 2022.
15 Okl. St. Ann. § 140.6, OK ST T. 15 § 140.6
Current with emergency effective legislation through Chapter 106 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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