{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-1506","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-1506","heading":"Unearned premium reserve","body":"A. With reference to insurance against loss or damage to\n\nproperty (except as provided in Section 1507 of this article) and\n\nwith reference to all general casualty insurance, and surety\n\ninsurance, every insurer shall maintain an unearned premium reserve\n\non all policies in force.\n\nB. The Insurance Commissioner may require that such reserves\n\nshall be equal to the unearned portions of the gross premiums in\n\nforce after deducting reinsurance in solvent insurers as computed on\n\neach respective risk from the policy's date of issue. If the\n\nInsurance Commissioner does not so require, the portions of the\n\ngross premium in force, less reinsurance in solvent insurers to be\n\nheld as a premium reserve, shall be computed according to the\n\nfollowing table:\n\nTerm for Which Policy Reserve for Unearned\n\nWas Written Premium\n\n_____________________ _____________________\n\n1 Year or less 1/2\n\n2 Years 1st year 3/4\n\n2nd year 1/4\n\n3 Years 1st year 5/6\n\n2nd year 1/2\n\n3rd year 1/6\n\n4 Years 1st year 7/8\n\n2nd year 5/8\n\n3rd year 3/8\n\n4th year 1/8\n\n5 Years 1st year 9/10\n\n2nd year 7/10\n\n3rd year 1/2\n\n4th year 3/10\n\n5th year 1/10\n\nOver 5 years pro rata\n\nC. Unearned premium reserves on policies written for an\n\nintermediate period shall be calculated at the succeeding longer\n\nperiod or on a monthly pro rata basis.\n\nD. In lieu of computation according to the foregoing table, all\n\nof such reserves may be computed, at the option of the insurer, on a\n\nmonthly or more frequent pro rata basis.\n\nE. After adopting a method for computing such reserve, an\n\ninsurer shall not change methods without approval of the Insurance\n\nCommissioner.\n\nF. This section does not apply to title insurance.","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":"ae9c83130915e23b1370b74871e7fa8f09e6ff24b54d4f83fb4ff4b426fa8369","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-1505","next":"us-ok/okla.-stat.-tit.-36-36-1507"},"notice":"GroundRules: Original legal text. Not legal advice."}