§ 4426.1. Rescission or denial of claim upon grounds of misrepresentation
Oklahoma Statutes AnnotatedTitle 36. Insurance
36 Okl.St.Ann. § 4426.1
§ 4426.1. Rescission or denial of claim upon grounds of misrepresentation
B. For a policy or certificate that has been in force for at least six (6) months but less than two (2) years, an insurer may rescind a long-term care insurance policy or certificate or deny an otherwise valid long-term care insurance claim upon a showing of misrepresentation that is both material to the acceptance for coverage and which pertains to the conditions for which benefits are sought.
C. After a policy or certificate has been in force for two (2) years, it is not contestable upon the grounds of misrepresentation alone; such policy or certificate may be contested only upon a showing that the insured knowingly and intentionally misrepresented relevant facts relating to the insured's health.
Credits
Laws 1993, c. 136, § 3, eff. Sept. 1, 1993.
36 Okl. St. Ann. § 4426.1, OK ST T. 36 § 4426.1
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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