{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-4055.12","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-4055.12","heading":"Advertisement of contracts, products or services -","body":"Guidelines and standards.\n\nA. The purpose of this section is to provide prospective\n\nviators with clear and unambiguous statements in the advertisement\n\nof viatical settlements and to assure the clear, truthful and\n\nadequate disclosure of the benefits, risks, limitations and\n\nexclusions of any viatical settlement contract. This purpose is\n\nintended to be accomplished by the establishment of guidelines and\n\nstandards of permissible and impermissible conduct in the\n\nadvertising of viatical settlements to assure that product\n\ndescriptions are presented in a manner that prevents unfair,\n\ndeceptive or misleading advertising and is conducive to accurate\n\npresentation and description of viatical settlements through the\n\nadvertising media and material used by viatical settlement\n\nlicensees.\n\nB. This section shall apply to any advertising of viatical\n\nsettlement contracts or related products or services intended for\n\ndissemination in this state, including Internet advertising viewed\n\nby persons located in this state. Where disclosure requirements are\n\nestablished pursuant to federal regulation, this section shall be\n\ninterpreted so as to minimize or eliminate conflict with federal\n\nregulation wherever possible.\n\nC. Every viatical settlement licensee shall establish and at\n\nall times maintain a system of control over the content, form and\n\nmethod of dissemination of all advertisements of its contracts,\n\nproducts and services. All advertisements, regardless of by whom\n\nwritten, created, designed or presented, shall be the responsibility\n\nof the viatical settlement licensees, as well as the individual who\n\ncreated or presented the advertisement. A system of control shall\n\ninclude regular routine notification, at least once a year, to\n\nagents and others authorized by the viatical settlement licensee who\n\ndisseminate advertisements of the requirements and procedures for\n\napproval prior to the use of any advertisements not furnished by the\n\nviatical settlement licensee.\n\nD. Advertisements shall be truthful and not misleading in fact\n\nor by implication. The form and content of an advertisement of a\n\nviatical settlement contract shall be sufficiently complete and\n\nclear so as to avoid deception. It shall not have the capacity or\n\ntendency to mislead or deceive. Whether an advertisement has the\n\ncapacity or tendency to mislead or deceive shall be determined by\n\nthe Insurance Commissioner from the overall impression that the\n\nadvertisement may be reasonably expected to create upon a person of\n\naverage education or intelligence within the segment of the public\n\nto which it is directed.\n\nE. The information required to be disclosed under this section\n\nshall not be minimized, rendered obscure, or presented in an\n\nambiguous fashion or intermingled with the text of the advertisement\n\nso as to be confusing or misleading.\n\n1. An advertisement shall not omit material information or use\n\nwords, phrases, statements, references or illustrations if the\n\nomission or use has the capacity, tendency or effect of misleading\n\nor deceiving viators as to the nature or extent of any benefit, loss\n\ncovered, premium payable, or state or federal tax consequence. The\n\nfact that the viatical settlement contract offered is made available\n\nfor inspection prior to consummation of the sale, or an offer is\n\nmade to refund the payment if the viator is not satisfied or that\n\nthe viatical settlement contract includes a “free look” period that\n\nsatisfies or exceeds legal requirements, does not remedy misleading\n\nstatements.\n\n2. An advertisement shall not use the name or title of a life\n\ninsurance company or a life insurance policy unless the\n\nadvertisement has been approved by the insurer.\n\n3. An advertisement shall not state or imply that interest\n\ncharged on an accelerated death benefit or a policy loan is unfair,\n\ninequitable or in any manner an incorrect or improper practice.\ntisement shall not use the name or title of a life\n\ninsurance company or a life insurance policy unless the\n\nadvertisement has been approved by the insurer.\n\n3. An advertisement shall not state or imply that interest\n\ncharged on an accelerated death benefit or a policy loan is unfair,\n\ninequitable or in any manner an incorrect or improper practice.\n\n4. The words “free”, “no cost”, “without cost”, “no additional\n\ncost”, “at no extra cost”, or words of similar import shall not be\n\nused with respect to any benefit or service unless true. An\n\nadvertisement may specify the charge for a benefit or a service or\n\nmay state that a charge is included in the payment or use other\n\nappropriate language.\n\n5. Testimonials, appraisals or analysis used in advertisements\n\nmust be genuine; represent the current opinion of the author; be\n\napplicable to the viatical settlement contract, product or service\n\nadvertised, if any; and be accurately reproduced with sufficient\n\ncompleteness to avoid misleading or deceiving prospective viators as\n\nto the nature or scope of the testimonials, appraisal, analysis or\n\nendorsement. In using testimonials, appraisals or analysis, a\n\nlicensee under the Viatical Settlements Act of 2008 makes as its own\n\nall the statements contained therein, and the statements are subject\n\nto all the provisions of this section.\n\na. If the individual making a testimonial, appraisal,\n\nanalysis or an endorsement has a financial interest in\n\nthe party making use of the testimonial, appraisal,\n\nanalysis or endorsement, either directly or through a\n\nrelated entity as a stockholder, director, officer,\n\nemployee or otherwise, or receives any benefit\n\ndirectly or indirectly other than required union scale\n\nwages, that fact shall be prominently disclosed in the\n\nadvertisement.\n\nb. An advertisement shall not state or imply that a\n\nviatical settlement contract, benefit or service has\n\nbeen approved or endorsed by a group of individuals,\n\nsociety, association or other organization unless that\n\nis the fact and unless any relationship between an\n\norganization and the viatical settlement licensee is\n\ndisclosed. If the entity making the endorsement or\n\ntestimonial is owned, controlled or managed by the\n\nviatical settlement licensee, or receives any payment\n\nor other consideration from the viatical settlement\n\nlicensee for making an endorsement or testimonial,\n\nthat fact shall be disclosed in the advertisement.\n\nc. When an endorsement refers to benefits received under\n\na viatical settlement contract all pertinent\n\ninformation shall be retained for a period of five (5)\n\nyears after its use.\n\nF. An advertisement shall not contain statistical information\n\nunless it accurately reflects recent and relevant facts. The source\n\nof all statistics used in an advertisement shall be identified.\n\nG. An advertisement shall not disparage insurers, viatical\n\nsettlement providers, viatical settlement brokers, viatical\n\nsettlement investment agents, insurance producers, policies,\n\nservices or methods of marketing.\n\nH. The name of the viatical settlement licensee shall be\n\nclearly identified in all advertisements about the licensee or its\n\nviatical settlement contract, products or services, and if any\n\nspecific viatical settlement contract is advertised, the viatical\n\nsettlement contract shall be identified either by form number or\n\nsome other appropriate description. If an application is part of\n\nthe advertisement, the name of the viatical settlement provider\n\nshall be shown on the application.\n\nI. An advertisement shall not use a trade name, group\n\ndesignation, name of the parent company of a viatical settlement\n\nlicensee, name of a particular division of the viatical settlement\n\nlicensee, service mark, slogan, symbol or other device or reference\n\nwithout disclosing the name of the viatical settlement licensee, if\ne of the viatical settlement provider\n\nshall be shown on the application.\n\nI. An advertisement shall not use a trade name, group\n\ndesignation, name of the parent company of a viatical settlement\n\nlicensee, name of a particular division of the viatical settlement\n\nlicensee, service mark, slogan, symbol or other device or reference\n\nwithout disclosing the name of the viatical settlement licensee, if\n\nthe advertisement would have the capacity or tendency to mislead or\n\ndeceive as to the true identity of the viatical settlement licensee,\n\nor to create the impression that a company other than the viatical\n\nsettlement licensee would have any responsibility for the financial\n\nobligation under a viatical settlement contract.\n\nJ. An advertisement shall not use any combination of words,\n\nsymbols or physical materials that by their content, phraseology,\n\nshape, color or other characteristics are so similar to a\n\ncombination of words, symbols or physical materials used by a\n\ngovernment program or agency or otherwise appear to be of such a\n\nnature that they tend to mislead prospective viators into believing\n\nthat the solicitation is in some manner connected with a government\n\nprogram or agency.\n\nK. An advertisement may state that a viatical settlement\n\nlicensee is licensed in the state where the advertisement appears,\n\nprovided it does not exaggerate that fact or suggest or imply that\n\ncompeting viatical settlement licensees may not be so licensed. The\n\nadvertisement may ask the audience to consult the licensee’s web\n\nsite or contact the department of insurance to find out if the state\n\nrequires licensing and, if so, whether the viatical settlement\n\nprovider, viatical settlement broker is licensed.\n\nL. An advertisement shall not create the impression that the\n\nviatical settlement provider, its financial condition or status, the\n\npayment of its claims or the merits, desirability, or advisability\n\nof its viatical settlement contracts are recommended or endorsed by\n\nany government entity.\n\nM. The name of the actual licensee shall be stated in all of\n\nits advertisements. An advertisement shall not use a trade name,\n\nany group designation, name of any affiliate or controlling entity\n\nof the licensee, service mark, slogan, symbol or other device in a\n\nmanner that would have the capacity or tendency to mislead or\n\ndeceive as to the true identity of the actual licensee or create the\n\nfalse impression that an affiliate or controlling entity would have\n\nany responsibility for the financial obligation of the licensee.\n\nN. An advertisement shall not directly or indirectly create the\n\nimpression that any division or agency of the state or of the\n\nfederal government endorses, approves or favors:\n\n1. Any viatical settlement licensee or its business practices\n\nor methods of operation;\n\n2. The merits, desirability or advisability of any viatical\n\nsettlement contract;\n\n3. Any viatical settlement contract; or\n\n4. Any life insurance policy or life insurance company.\n\nO. If the advertiser emphasizes the speed with which the\n\nviatication will occur, the advertising must disclose the average\n\ntime frame from completed application to the date of offer and from\n\nacceptance of the offer to receipt of the funds by the viator.\n\nP. If the advertising emphasizes the dollar amounts available\n\nto viators, the advertising shall disclose the average purchase\n\nprice as a percent of face value obtained by viators contracting\n\nwith the licensee during the past six (6) months.","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":"858e5f281c68a8ddeb6bd6db433e2cbed0e18d32aef327959245246a7a90932a","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-4055.11","next":"us-ok/okla.-stat.-tit.-36-36-4055.13"},"notice":"GroundRules: Original legal text. Not legal advice."}