Okla. Stat. tit. 36, § 36-1241: Property and casualty insurer - Acceptance or denial of

application.

A property and casualty insurer shall, within forty-five (45)

business days of taking an application, determine whether or not the

applicant should be accepted or denied as an insured and shall give

written notice to the agent of the acceptance or denial. If the

applicant is denied as an insured, any premium monies paid, less any

expenses incurred either by the agent or the insurer, shall be

immediately returned to the proposed purchaser of the policy.

Failure of the insurer to return premium monies to the applicant

within forty-five (45) business days of the initial submission to

the insurer, broker, or agent, shall result in the applicant

recovering any interest and bank charges which the proposed insured

has incurred because of the delay in return of the initial premium,

less expenses incurred. In addition, if the insurer does not return

the premium monies, less expenses, within the forty-five-day period,

the insurer shall remain liable for the insurance coverage and any

claims pursuant thereto which the remaining premium monies would

have purchased.