{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-1435.22","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-1435.22","heading":"Applicant to file bond prior to issuance of license","body":"1. Prior to issuance of a license as a surplus lines insurance\n\nbroker, the applicant shall file with the Commissioner and\n\nthereafter, for as long as the license remains in effect, shall keep\n\nin force a bond in an amount of not less than Five Thousand Dollars\n\n($5,000.00) and not more than Forty Thousand Dollars ($40,000.00)\n\nwith an authorized corporate surety approved by the Commissioner.\n\nThe exact amount of the bond shall be determined pursuant to the\n\nrules of the Commissioner and shall be based upon the actual or\n\nreasonably estimated premium for policies issued in connection with\n\nthe services of the licensee. The surety shall notify the\n\nCommissioner of any changes in the bond of any licensee. The\n\naggregate liability of the surety for any and all claims on a bond\n\nrequired by the provisions of this subsection shall in no event\n\nexceed the amount of the bond. No such bond shall be terminated\n\nunless at least thirty (30) days' prior written notice of the\n\ntermination is given by the surety to the licensee and the\n\nCommissioner. Upon termination of the license for which the bond\n\nwas in effect, the licensee shall notify the surety within ten (10)\n\nworking days.\n\n2. The Commissioner may waive bonding requirements for\n\nnonresident surplus lines insurance brokers.\n\n3. All surety protection required by the provisions of this\n\nsection is to inure to the benefit of any party aggrieved by the\n\nacts of a broker arising pursuant to conduct as a licensed surplus\n\nlines insurance broker.","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":"ccb1835ffaf20e6175434b3e093f921b14853c13b7821a95990566f9763594a5","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-1435.21","next":"us-ok/okla.-stat.-tit.-36-36-1435.23"},"notice":"GroundRules: Original legal text. Not legal advice."}