Okla. Stat. tit. 36, § 36-6459: Effectuation of purchase through licensed broker or agent

– Notice of risks not covered – Deductibles or self-insured

retention – Aggregate limits standards.

A. A purchasing group shall not purchase insurance from a risk

retention group that is not chartered in a state or from an insurer

not licensed to transact insurance in this state, unless the

purchase is effected through a licensed agent or broker acting

pursuant to the surplus lines laws and regulations of this state.

B. A purchasing group which obtains liability insurance from an

insurer not admitted in this state or a risk retention group shall

inform each of the members of the group which has a risk resident or

located in this state that the risk is not protected by an insurance

insolvency guaranty fund in this state and that the risk retention

group or the insurer may not be subject to all insurance laws and

regulations of this state.

C. No purchasing group may purchase insurance providing for a

deductible or self-insured retention applicable to the group as a

whole. However, coverage may provide for a deductible or self-

insured retention applicable to individual members.

D. Purchases of insurance by purchasing groups are subject to

the same standards regarding aggregate limits which are applicable

to all purchases of group insurance.