Okla. Stat. tit. 36, § 36-1448: Administrator's bond - Amount - Requirements - Purpose -

limits of cumulative liability - Cancellation.

A. Every administrator shall be bonded.

B. Prior to issuance of a license as an administrator, the

applicant shall file with the Insurance Commissioner and thereafter

keep in effect as long as the license remains in effect, a surety

bond in an amount sufficient to protect those with whom the

administrator deals, as determined by the Insurance Commissioner,

which amount shall not be less than Ten Thousand Dollars

($10,000.00), and in a form acceptable to the Insurance

Commissioner. The bond is intended to secure performance of the

administrator in conformity with the laws, rules and regulations

governing third-party administrators. The bond shall be for the

benefit of parties injured by the actions of the administrator.

C. In no event shall the cumulative liability of the Surety be

more than the penal sum of the bond. In no event shall the Surety

cancel the bond without first giving thirty (30) days' written

notice to the principal and the Insurance Commissioner.