{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-1215","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-1215","heading":"Definitions","body":"\n\nAs used in this act, the following words, terms and phrases\n\nshall have the respective meanings hereinafter set forth, unless the\n\ncontext shall otherwise require:\n\n1. A \"coupon policy\" is any policy or contract of life\n\ninsurance, other than annuity, which contains, in addition to basic\n\nlife insurance benefits, annual endowment benefits evidenced in the\n\npolicy contract by coupons which mature as annual endowment\n\nbenefits. For the purposes of this act, policies containing annual\n\nendowment benefits evidenced by coupons, passbooks or other devices\n\ngenerally identified with savings, banking or investment\n\ninstitutions shall be considered to be coupon policies;\n\n2. A \"profit-sharing policy\" is that form of life insurance\n\npolicy or annuity contract which contains provisions representing or\n\ntending to create the understanding that the policyholder will be\n\neligible to participate in any future distribution of general\n\ncorporate profits, with special advantage not available to persons\n\nholding other types of policies issued by the insurer to individuals\n\nof the same class and equal expectation of life; and\n\n3. A \"charter policy\" or \"founders policy\" is that form of life\n\ninsurance policy or annuity contract, usually issued by a newly-\n\norganized insurer, which is sold on the basis that its availability\n\nwill be limited to a specific predetermined number of units of a\n\nfixed dollar amount and which generally provides that the\n\npolicyholder shall participate in the earnings resulting from either\n\nthe participating policies or the nonparticipating policies sold by\n\nthe insurer, or both.","path":["OK Code","Title 36"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os36.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"46783dd2f8e7f537c348ac72033843e0299ec70734f1095d527b8cbad8a154b8","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-1214","next":"us-ok/okla.-stat.-tit.-36-36-1216"},"notice":"GroundRules: Original legal text. Not legal advice."}