{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-6033","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-6033","heading":"Limitation on compensation, fees or commissions","body":"It shall be unlawful for any person, firm, or corporation to pay\n\nor to receive more than fifteen per cent (15%) of the price received\n\nor paid for the equity security of any insurer as compensation for\n\nservices, fees or commissions related directly or indirectly to the\n\norganization and promotion of the insurer and for the issuance or\n\nsale of the equity security of the insurer. In addition to any\n\nother penalty which may be applicable thereto, either under the\n\nInsurance Code or otherwise, violation of this section shall\n\nconstitute a misdemeanor and shall be punishable as such where no\n\ngreater penalty is provided therefor. In addition thereto, any\n\nperson, firm or corporation that pays or receives in excess of the\n\nsaid fifteen per cent (15%) for such purposes shall be liable to the\n\ninsurer for an amount double such excess. Suit to recover such\n\nexcess may be instituted at law or in equity in any court of\n\ncompetent jurisdiction by the insurer or by the owner of any equity\n\nsecurity of the insurer in the name and in behalf of the insurer if\n\nthe insurer shall fail or refuse to bring such suit within sixty\n\ndays after request or shall fail diligently to prosecute the same\n\nthereafter. If no suit to recover such profit is so filed within\n\nsix months following the date such profit was realized or accrued or\n\nif at any time such suit is not diligently prosecuted, the Insurance\n\nCommissioner may file or prosecute such suit for and on behalf of\n\nthe insurer at the expense of the insurer.","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":"e45d9edc6b981b13b032b9d3d7a3e0f6344d90352e8b97c322b2f4ffaa67af39","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-6032","next":"us-ok/okla.-stat.-tit.-36-36-6034"},"notice":"GroundRules: Original legal text. Not legal advice."}