{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-3609","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-3609","heading":"Representations in applications - Recovery under policy -","body":"Mortgage guaranty policies.\n\nA. All statements and descriptions in any application for an\n\ninsurance policy or in negotiations therefor, by or in behalf of the\n\ninsured, shall be deemed to be representations and not warranties.\n\nMisrepresentations, omissions, concealment of facts, and incorrect\n\nstatements shall not prevent a recovery under the policy unless:\n\n1. Fraudulent; or\n\n2. Material either to the acceptance of the risk, or to the\n\nhazard assumed by the insurer; or\n\n3. The insurer in good faith would either not have issued the\n\npolicy, or would not have issued a policy in as large an amount, or\n\nwould not have provided coverage with respect to the hazard\n\nresulting in the loss, if the true facts had been made known to the\n\ninsurer as required either by the application for the policy or\n\notherwise.\n\nB. Subsection A of this section shall not be applicable to\n\nmortgage guaranty insurance, as hereinafter defined.\n\nMisrepresentations, omissions, concealment of facts and incorrect\n\nstatements shall not prevent a recovery under a policy of mortgage\n\nguaranty insurance unless material and fraudulent. As used herein,\n\nthe term \"mortgage guaranty insurance\" means a form of casualty or\n\nsurety insurance insuring lenders against financial loss by reason\n\nof nonpayment of principal, interest and other sums agreed to be\n\npaid under the terms of any note, bond or other evidence of\n\nindebtedness secured by a mortgage, deed of trust or other\n\ninstrument constituting a lien or charge on real estate which\n\ncontains a residential building or a building designed to be\n\noccupied for industrial or commercial purposes.","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":"3c6e1325c306f799a74ee553869a8ed86814523285cb110ea85cd61e78bd32d7","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-3608","next":"us-ok/okla.-stat.-tit.-36-36-361"},"notice":"GroundRules: Original legal text. Not legal advice."}