Okla. Stat. tit. 36, § 36-7127: Surety bond in lieu of trust requirement

A. As an alternative to the trust requirements of Section 7126

of this title, an organization may purchase a surety bond in an

amount not less than the minimum funding requirement.

B. The surety bond shall be made payable to the State of

Oklahoma for the benefit of the Insurance Commissioner and all

purchasers of prepaid cemetery merchandise. The bond shall be

approved by the Commissioner.

C. The Commissioner may establish by rule the requirements and

guidelines for the surety bonds required pursuant to this section.

D. A surety bond maintained under the provisions of this

section or Section 7124 of this title may be cancelled or terminated

by the surety only by providing notice to the Commissioner, no later

than thirty (30) days before the effective date of the cancellation

or termination. Notwithstanding the cancellation, termination, or

expiration of a bond maintained under this section or Section 7124

of this title, the surety shall remain liable for obligations

arising during the term of the bond and prior to the termination,

cancellation or expiration.