{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-1241","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-1241","heading":"Property and casualty insurer - Acceptance or denial of","body":"application.\n\nA property and casualty insurer shall, within forty-five (45)\n\nbusiness days of taking an application, determine whether or not the\n\napplicant should be accepted or denied as an insured and shall give\n\nwritten notice to the agent of the acceptance or denial. If the\n\napplicant is denied as an insured, any premium monies paid, less any\n\nexpenses incurred either by the agent or the insurer, shall be\n\nimmediately returned to the proposed purchaser of the policy.\n\nFailure of the insurer to return premium monies to the applicant\n\nwithin forty-five (45) business days of the initial submission to\n\nthe insurer, broker, or agent, shall result in the applicant\n\nrecovering any interest and bank charges which the proposed insured\n\nhas incurred because of the delay in return of the initial premium,\n\nless expenses incurred. In addition, if the insurer does not return\n\nthe premium monies, less expenses, within the forty-five-day period,\n\nthe insurer shall remain liable for the insurance coverage and any\n\nclaims pursuant thereto which the remaining premium monies would\n\nhave purchased.","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":"fb3aec39dbe213661932ee949aadfc2f44910b490b2225434ccf3c043f077c0b","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-124","next":"us-ok/okla.-stat.-tit.-36-36-1241.1"},"notice":"GroundRules: Original legal text. Not legal advice."}