§ 6751. Purpose--Exemptions
Oklahoma Statutes AnnotatedTitle 36. InsuranceEffective: November 1, 2021
Effective: November 1, 2021
36 Okl.St.Ann. § 6751
§ 6751. Purpose--Exemptions
A. The purpose of the Oklahoma Home Service Contract Act is to create an independent legal framework within which home service contracts and home warranties are defined, may be sold and are regulated in this state. The Oklahoma Home Service Contract Act declares that home service contracts and home warranties, as defined in Section 6752 of this title, are not insurance and not otherwise subject to the Insurance Code. The Oklahoma Home Service Contract Act requires simple registration, financial assurance options and enforcement by the Insurance Commissioner. Proper registration under the Oklahoma Home Service Contract Act exempts applicability under the Service Warranty Act, which may regulate extended warranty, retail, automobile and agreements not defined in the Oklahoma Home Service Contract Act. Nothing in the Service Warranty Act is changed or amended by the Oklahoma Home Service Contract Act.
Credits
Laws 2011, c. 224, § 2, eff. Nov. 1, 2011; Laws 2012, c. 150, § 37, eff. Nov. 1, 2012; Laws 2021, c. 137, § 1, eff. Nov. 1, 2021.
36 Okl. St. Ann. § 6751, OK ST T. 36 § 6751
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.
End of Document |