{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-4055.16","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-4055.16","heading":"Authority of Commissioner","body":"The Insurance Commissioner shall have the authority to:\n\n1. Promulgate regulations implementing the Viatical Settlements\n\nAct of 2008;\n\n2. Establish standards for evaluating reasonableness of\n\npayments under viatical settlement contracts for persons who are\n\nterminally or chronically ill. This authority includes, but is not\n\nlimited to, regulation of discount rates used to determine the\n\namount paid in exchange for assignment, transfer, sale, devise or\n\nbequest of a benefit under a life insurance policy insuring the life\n\nof a person that is chronically or terminally ill;\n\n3. Establish appropriate licensing requirements, fees and\n\nstandards for continued licensure for viatical settlement providers\n\nand brokers;\n\n4. Require a bond or other mechanism for financial\n\naccountability for viatical settlement providers and brokers; and\n\n5. Adopt rules governing the relationship and responsibilities\n\nof both insurers and viatical settlement providers and viatical\n\nsettlement brokers during the viatication of a life insurance policy\n\nor certificate.","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":"f653b49468d20395823dad54f46863f07cff01f1eef1e4e1dd168b87586b335a","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-4055.15","next":"us-ok/okla.-stat.-tit.-36-36-4055.17"},"notice":"GroundRules: Original legal text. Not legal advice."}