{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-2205","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-2205","heading":"Trust instrument – Mandatory provisions","body":"In addition to the requirements of Section 60 of this act, the\n\ntrust instrument shall provide:\n\n1. That there shall be a minimum period during which any\n\ninsured must participate in the trust;\n\n2. That all insureds shall execute a participation agreement;\n\n3. That the trustee shall be an individual or an institution\n\nsuch as a bank, insurance company or other appropriate entity;\n\n4. A preliminary assessment of all insureds for initial\n\nexpenses necessary to commence operation;\n\n5. For establishment of necessary facilities;\n\n6. Details of the management of the trust;\n\n7. Procedures for assessment of all insureds to defray losses\n\nand expenses;\n\n8. Description of commission arrangements;\n\n9. Description of reasonable and objective underwriting\n\nstandards;\n\n10. Procedures for and description of acceptance and cession of\n\nreinsurance;\n\n11. Procedures for and descriptions of appointment of servicing\n\ncarriers or other servicing arrangements; and\n\n12. Procedures for determining amounts of insurance to be\n\nprovided by the trust.","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":"37994c4246c29b55cfac5afd8262847a9d3211c5ed6e22a90573150d7e571ff9","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-2204","next":"us-ok/okla.-stat.-tit.-36-36-2206"},"notice":"GroundRules: Original legal text. Not legal advice."}