{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-1448","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-1448","heading":"Administrator's bond - Amount - Requirements - Purpose -","body":"limits of cumulative liability - Cancellation.\n\nA. Every administrator shall be bonded.\n\nB. Prior to issuance of a license as an administrator, the\n\napplicant shall file with the Insurance Commissioner and thereafter\n\nkeep in effect as long as the license remains in effect, a surety\n\nbond in an amount sufficient to protect those with whom the\n\nadministrator deals, as determined by the Insurance Commissioner,\n\nwhich amount shall not be less than Ten Thousand Dollars\n\n($10,000.00), and in a form acceptable to the Insurance\n\nCommissioner. The bond is intended to secure performance of the\n\nadministrator in conformity with the laws, rules and regulations\n\ngoverning third-party administrators. The bond shall be for the\n\nbenefit of parties injured by the actions of the administrator.\n\nC. In no event shall the cumulative liability of the Surety be\n\nmore than the penal sum of the bond. In no event shall the Surety\n\ncancel the bond without first giving thirty (30) days' written\n\nnotice to the principal and the Insurance Commissioner.","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":"87a7596374a28936430d0fd902ec300fc8bebca7db8fb8578f62626206ad36c2","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-1447","next":"us-ok/okla.-stat.-tit.-36-36-1449"},"notice":"GroundRules: Original legal text. Not legal advice."}