{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-1435.20a","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-1435.20a","heading":"Sale of storage insurance by self-storage facility","body":"A. As used in this section:\n\n1. \"Self-service storage insurance\" means personal property\n\ninsurance offered to occupants of a self-service storage facility in\n\nconnection with and incidental to the rental of space at the self-\n\nservice storage facility. Self-service storage insurance is limited\n\nto coverage against the loss of or physical damage to personal\n\nproperty that occurs on the premises of the self-service storage\n\nfacility or when the personal property is in transit to or from the\n\nself-service storage facility during the period of the rental\n\nagreement;\n\n2. \"Occupant\" means a person, or his or her sublessee,\n\nsuccessor or assign, entitled to the use of the storage space at a\n\nself-service storage facility under a rental agreement, to the\n\nexclusion of others;\n\n3. \"Owner\" means the owner, operator, lessor or sublessor of a\n\nself-service storage facility, or any person authorized by him or\n\nher to manage the facility or to receive rent from an occupant under\n\na rental agreement;\n\n4. \"Self-service storage facility\" means any real property\n\ndesigned and used for the purpose of renting or leasing individual\n\nstorage space to occupants who are to have access to such facility\n\nfor the purpose of storing and removing personal property;\n\n5. \"Supervising entity\" means a business entity that is a\n\nlicensed insurer or insurance producer.\n\nB. The owner of a self-service storage facility may sell,\n\nsolicit and offer coverage for self-service storage insurance.\n\nC. An owner is required to hold a limited lines license,\n\npursuant to Section 1435.20 of Title 36 of the Oklahoma Statutes, to\n\nsell, solicit or offer coverage for self-service storage insurance.\n\nAn owner is not required to be licensed solely to display and make\n\navailable brochures and other promotional materials created by or on\n\nbehalf of an authorized insurer or surplus lines insurer. A limited\n\nlines license shall authorize any employee or authorized\n\nrepresentative of the owner to sell, solicit and offer coverage for\n\nself-service storage insurance to occupants at each location at\n\nwhich the owner conducts business.\n\nD. An owner holding a limited lines license pursuant to Section\n\n1435.20 of Title 36 of the Oklahoma Statutes is exempt from the\n\nexamination requirements in Section 1435.6 of Title 36 of the\n\nOklahoma Statutes and the continuing education requirements in\n\nSection 1435.29 of Title 36 of the Oklahoma Statutes.\n\nE. An owner or supervising entity shall maintain a registry of\n\nagents of the owner at each self-service storage facility who are\n\nengaged in selling, soliciting or offering self-service storage\n\ninsurance coverage under the authority of the limited lines license\n\nof the owner.\n\nF. Upon request by the Insurance Commissioner and with ten-\n\ndays' notice, the books and records of the owner regarding the self-\n\nservice storage insurance shall be open to examination by the\n\nInsurance Commissioner during regular business hours of the\n\nsupervising entity.\n\nG. At every location where self-service storage insurance is\n\noffered, brochures or other written or electronic materials must be\n\nmade available to prospective purchasers which:\n\n1. Disclose that self-service storage insurance may provide a\n\nduplication of coverage already provided by a homeowner's insurance\n\npolicy, renter's insurance policy or other source of coverage of the\n\noccupant;\n\n2. State that the purchase of the self-service storage\n\ninsurance offered by the owner is not required in order to lease\n\nstorage space;\n\n3. Provide:\n\na. the identity of the insurer,\n\nb. the identity of the owner,\n\nc. the process for filing a claim, and\n\nd. that the insured may cancel the coverage at any time\n\nand receive a refund of any applicable unearned\n\npremium.\n\nH. Each prospective purchaser of self-service storage insurance\n\nshall be provided, prior to the time of sale, a copy of the policy\n. the identity of the insurer,\n\nb. the identity of the owner,\n\nc. the process for filing a claim, and\n\nd. that the insured may cancel the coverage at any time\n\nand receive a refund of any applicable unearned\n\npremium.\n\nH. Each prospective purchaser of self-service storage insurance\n\nshall be provided, prior to the time of sale, a copy of the policy\n\nor certificate, as applicable.\n\nI. Self-service storage insurance may be provided under an\n\nindividual, master, corporate, commercial or group insurance policy.\n\nJ. Self-service storage insurance rules, rates and forms are\n\nsubject to the provisions of Sections 1201 through 1219, Sections\n\n309.1 through 309.7, and Section 1435.26 of Title 36 of the Oklahoma\n\nStatutes.\n\nK. The insurer issuing the self-service storage insurance shall\n\neither directly supervise or appoint a supervising entity to oversee\n\ncompliance with applicable law. The insurer or supervising entity\n\nshall provide a training program for employees and authorized\n\nrepresentatives of the owner that sell, solicit or offer self-\n\nservice storage insurance. The training required by this subsection\n\nshall include each employee and authorized representative that\n\nsells, solicits or offers self-service storage insurance receiving\n\nbasic instruction about the self-service storage insurance offered\n\nto occupants and the disclosures required pursuant to subsection G\n\nof this section.\n\nL. No employee or authorized representative of an owner shall\n\nadvertise, represent or otherwise hold himself or herself out as a\n\nlicensed insurance producer, unless so licensed.\n\nM. The premium for self-service storage insurance coverage may\n\nbe billed and collected by the owner. The premium for the coverage\n\nshall be separately itemized on the bill of the occupant. All\n\npremiums received by an owner for the sale of self-service storage\n\ninsurance shall be considered funds held by the owner in a fiduciary\n\ncapacity for the benefit of the insurer. An owner billing and\n\ncollecting charges for self-service storage insurance shall not be\n\nrequired to maintain the funds in a segregated account provided that\n\nthe owner is authorized by the insurer or supervising entity to hold\n\nthe funds in an alternative manner and to remit the amounts to the\n\nsupervising entity or insurer within sixty (60) days of receipt.\n\nOwners may receive compensation for billing and collection services.\n\nN. A sworn application for a self-service storage insurance\n\nlimited lines license provided for in Section 1435.20 of Title 36 of\n\nthe Oklahoma Statutes shall be made to and filed with the Insurance\n\nCommissioner on forms prescribed and furnished by the Insurance\n\nCommissioner.\n\nO. The application for licensure shall provide the name,\n\nresidence address, principal place of business, facilities covered\n\nby the license, authorized representatives and other information\n\nrequired by the Insurance Commissioner for the owner and the\n\nlicensed producer that is designated by the applicant as the person\n\nsupervising compliance with the requirements of this section. Such\n\ninformation shall be updated within thirty (30) days of any change.\n\nThe licensed producer that is designated by the applicant does not\n\nneed to own or be employed by the owner.\n\nP. Limited lines licenses for self-service storage insurance\n\nshall be valid for a period of twenty-four (24) months.\n\nQ. Each owner licensed pursuant to this section shall pay to\n\nthe Insurance Commissioner a fee as prescribed by the Insurance\n\nCommissioner.","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":"0bb458daef34a84ffb96302e9dcb2a7955150991b228ee97e6bc7e44749c979c","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-1435.20","next":"us-ok/okla.-stat.-tit.-36-36-1435.21"},"notice":"GroundRules: Original legal text. Not legal advice."}