Okla. Stat. tit. 36, § 36-6654: Financial security requirements for sales of products

No vehicle protection product shall be sold or offered for sale

in this state unless the warrantor meets the conditions specified in

either paragraph 1 or 2 of this section in order to ensure adequate

performance under the warranty. No other financial security

requirements or financial standards for warrantors shall be

required.

1. The vehicle protection product warrantor is insured under a

warranty reimbursement policy issued by an insurer authorized to do

business in this state which provides that:

a. the insurer will pay to, or on behalf of, the

warrantor one hundred percent (100%) of all sums that

the warrantor is legally obligated to pay according to

the warrantor’s contractual obligations under the

warrantor’s vehicle protection product warranty,

b. a true and correct copy of the warranty reimbursement

insurance policy has been filed with the Insurance

Commissioner by the warrantor, and

c. the policy contains the provision required in Section

7 of this act.

2. a. The vehicle protection product warrantor, or its

parent company in accordance with subparagraph b of

this paragraph, maintains a net worth or stockholders’

equity of Fifty Million Dollars ($50,000,000.00), and

b. the warrantor provides the Commissioner with a copy of

the warrantor’s or the warrantor’s parent company’s

most recent Form 10-K or Form 20-F filed with the

Securities and Exchange Commission within the last

calendar year or, if the warrantor does not file with

the Securities and Exchange Commission, a copy of the

warrantor or the warrantor’s parent company’s audited

financial statements that shows a net worth of the

warrantor or its parent company of at least Fifty

Million Dollars ($50,000,000.00). If the warrantor’s

parent company’s Form 10-K, Form 20-F, or audited

financial statements are filed to meet the warrantor’s

financial stability requirement, then the parent

company shall agree to guarantee the obligations of

the warrantor relating to warranties issued by the

warrantor in this state. The financial information

filed under this subparagraph shall be confidential as

a trade secret of the entity filing the information

and not subject to public disclosure.