{"data":{"id":"us-ok/okla.-stat.-tit.-24-24-13","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 24, § 24-13","heading":"Insurance on life of debtor - Conditions","body":"A. Whenever a credit life insurance policy or other insurance\n\npolicy is obtained on the life of a debtor under or pursuant to the\n\nterms of a contract for the sale of a motor vehicle, merchandise or\n\nother property, the person, firm, company or corporation obtaining\n\nor receiving the policy shall furnish a copy of the policy, or a\n\ncertificate or statement of insurance in the case of a group policy,\n\nto the insured not later than thirty (30) days after receipt\n\nthereof. Such policy shall be on a form approved by the State\n\nInsurance Commissioner, and the principal amount payable thereunder\n\nshall not be in excess of the total amount the debtor agrees to pay\n\nwhen he enters into such contract, provided, however, that where the\n\nindebtedness is repayable in installments, the amount of the\n\ninsurance shall not exceed the approximate unpaid balance of the\n\nloan. If all amounts payable under such contract are paid before\n\nthe same become due, such policy shall be cancelled at the request\n\nof the insured who shall be paid any refund for unearned premium on\n\nthe policy within fifteen (15) days after such cancellation.\n\nB. Whenever a credit life insurance policy or other insurance\n\npolicy obtained pursuant to this section is denied or cancelled\n\nprior to the satisfaction of the debt by the insurer, notice shall\n\nbe given by the insurer to the debtor by certified mail with return\n\nreceipt requested within sixty (60) days of the denial or\n\ncancellation.","path":["OK Code","Title 24"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os24.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"ef766e188093fcc80f34a2f07d437f50baa3cda841722b3b94b13219c1fa7587","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-24-24-123","next":"us-ok/okla.-stat.-tit.-24-24-131"},"notice":"GroundRules: Original legal text. Not legal advice."}