{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-4023","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-4023","heading":"Standard provisions required in reversionary annuities","body":"A. Except as stated herein, no contract for a reversionary\n\nannuity shall be delivered or issued for delivery in this state\n\nunless it contains in substance each of the following provisions:\n\n1. Any such reversionary annuity contract shall contain the\n\nprovisions specified in Sections 4017, 4018, 4019, 4021 and 4022 of\n\nthis article, except that under said Section 4017 the insurer may at\n\nits option provide for an equitable reduction of the amount of the\n\nannuity payments in settlement of an overdue or deferred payment in\n\nlieu of providing for deduction of such payments from an amount\n\npayable upon settlement under the contract.\n\n2. In such reversionary annuity contracts there shall be a\n\nprovision that the contract may be reinstated at any time within\n\nthree (3) years from the date of default in making stipulated\n\npayments to the insurer, upon production of evidence of insurability\n\nsatisfactory to the insurer, and upon condition that all overdue\n\npayments and any indebtedness to the insurer on account of the\n\ncontract be paid, or, within the limits permitted by the then cash\n\nvalues of the contract, reinstated, with interest as to both\n\npayments and indebtedness at a rate to be specified in the contract\n\nbut not exceeding six percent (6%) per annum compounded annually.\n\nB. This section shall not apply to group annuities or to\n\nannuities included in life insurance policies, and any of such\n\nprovisions not applicable to single premium annuities shall not to\n\nthat extent be incorporated therein.","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":"dec1b924abef692333d612e8524b295b646f08e1ba5378b8c93368a6d2ee5fae","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-4022","next":"us-ok/okla.-stat.-tit.-36-36-4024"},"notice":"GroundRules: Original legal text. Not legal advice."}