Okla. Stat. tit. 36, § 36-1506: Unearned premium reserve

A. With reference to insurance against loss or damage to

property (except as provided in Section 1507 of this article) and

with reference to all general casualty insurance, and surety

insurance, every insurer shall maintain an unearned premium reserve

on all policies in force.

B. The Insurance Commissioner may require that such reserves

shall be equal to the unearned portions of the gross premiums in

force after deducting reinsurance in solvent insurers as computed on

each respective risk from the policy's date of issue. If the

Insurance Commissioner does not so require, the portions of the

gross premium in force, less reinsurance in solvent insurers to be

held as a premium reserve, shall be computed according to the

following table:

Term for Which Policy Reserve for Unearned

Was Written Premium

_____________________ _____________________

1 Year or less 1/2

2 Years 1st year 3/4

2nd year 1/4

3 Years 1st year 5/6

2nd year 1/2

3rd year 1/6

4 Years 1st year 7/8

2nd year 5/8

3rd year 3/8

4th year 1/8

5 Years 1st year 9/10

2nd year 7/10

3rd year 1/2

4th year 3/10

5th year 1/10

Over 5 years pro rata

C. Unearned premium reserves on policies written for an

intermediate period shall be calculated at the succeeding longer

period or on a monthly pro rata basis.

D. In lieu of computation according to the foregoing table, all

of such reserves may be computed, at the option of the insurer, on a

monthly or more frequent pro rata basis.

E. After adopting a method for computing such reserve, an

insurer shall not change methods without approval of the Insurance

Commissioner.

F. This section does not apply to title insurance.