{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-4055.11","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-4055.11","heading":"Fraudulent viatical settlement acts - Filing of","body":"advertising - \"Free\" insurance - Additional consideration - Emphasis\n\non settling policy prohibited.\n\nA. With respect to any viatical settlement contract or\n\ninsurance policy, no viatical settlement broker knowingly shall\n\nsolicit an offer from, effectuate a viatical settlement with or make\n\na sale to any viatical settlement provider, viatical settlement\n\npurchaser, financing entity or related provider trust that is\n\ncontrolling, controlled by, or under common control with such\n\nviatical settlement broker unless the relationship is disclosed to\n\nthe viator.\n\nB. With respect to any viatical settlement contract or\n\ninsurance policy, no viatical settlement provider knowingly may\n\nenter into a viatical settlement contract with a viator, if, in\n\nconnection with such viatical settlement contract, anything of value\n\nwill be paid to a viatical settlement broker that is controlling,\n\ncontrolled by, or under common control with such viatical settlement\n\nprovider or the viatical settlement purchaser, financing entity or\n\nrelated provider trust that is involved in such viatical settlement\n\ncontract unless the relationship is disclosed to the viator.\n\nC. A violation of subsection A or B of this section shall be\n\ndeemed a fraudulent viatical settlement act.\n\nD. No viatical settlement provider shall enter into a viatical\n\nsettlement contract unless the viatical settlement promotional,\n\nadvertising and marketing materials, as may be prescribed by\n\nregulation, have been filed with the Insurance Commissioner. In no\n\nevent shall any marketing materials expressly reference that the\n\ninsurance is “free” for any period of time. The inclusion of any\n\nreference in the marketing materials that would cause a viator to\n\nreasonably believe that the insurance is free for any period of time\n\nshall be considered a violation of the Viatical Settlements Act of\n\n2008.\n\nE. No life insurance producer, insurance company, viatical\n\nsettlement broker, viatical settlement provider or viatical\n\nsettlement investment agent shall make any statement or\n\nrepresentation to the applicant or policyholder in connection with\n\nthe sale or financing of a life insurance policy to the effect that\n\nthe insurance is free or without cost to the policyholder for any\n\nperiod of time unless provided in the policy.\n\nF. No person providing premium financing shall receive any\n\nproceeds, fees or other consideration from the policy or owner of\n\nthe policy that is in addition to the amounts required to pay\n\nprincipal, interest, and any other reasonable costs or expenses in\n\ntype and amount incurred by the lender or borrower in connection\n\nwith the premium finance agreement, except for the event of a\n\ndefault, unless either the default on the loan or transfer of the\n\npolicy in connection with the default occurs pursuant to an\n\nagreement or understanding with any other person for the purpose of\n\nevading regulation under this act. Any payments, charges, fees or\n\nother amounts received by a person providing premium financing in\n\nviolation of this subsection shall be remitted to the original owner\n\nof the policy or to the estate of the owner if the owner is deceased\n\nat the time of the determination of the overpayment.\n\nG. No person shall issue, solicit, market or otherwise promote\n\nthe purchase of an insurance policy for the purpose of, or with an\n\nemphasis on, settling the policy.","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":"a51de444057db1a1e9e4e2e86542936be9fc45d8ea4b2548f4d57faf355a7e88","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-4055.10","next":"us-ok/okla.-stat.-tit.-36-36-4055.12"},"notice":"GroundRules: Original legal text. Not legal advice."}