{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-6124.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-6124.1","heading":"Transfer of prepaid funeral benefit permits -","body":"Notification – Application.\n\nA. No prepaid funeral benefit permit shall be transferable from\n\none organization to another except as provided in this section. The\n\nselling organization shall notify the Insurance Commissioner at\n\nleast forty-five (45) days prior to transfer of ownership.\n\nNotification shall be electronic in the manner and form prescribed\n\nby the Insurance Commissioner and shall contain at a minimum the\n\nfollowing information:\n\n1. The name of the acquiring organization;\n\n2. The date the acquiring organization will take control of the\n\nselling organization;\n\n3. A listing of all unrealized prepaid funeral benefit\n\ncontracts funded by insurance assignments;\n\n4. A listing of all unrealized prepaid funeral benefit\n\ncontracts funded by trusts;\n\n5. A detailed description of existing trusts to include, but\n\nnot be limited to, the name of the contract holder and the trust\n\nvalue per contract; and\n\n6. Any other information the Insurance Commissioner may\n\nrequest.\n\nB. The Insurance Commissioner may waive or lessen the notice\n\nrequirement provided for in subsection A of this section upon good\n\ncause shown.\n\nC. The acquiring organization shall make application for a\n\npermit at least thirty (30) days prior to the transfer of ownership.\n\nApproval is contingent upon the acquiring organization receiving an\n\nestablishment license as provided for in Sections 395.1 through\n\n396.33 of Title 59 of the Oklahoma Statutes. The permit application\n\nshall include an assumption agreement executed by the acquiring\n\norganization and the selling organization.\n\nD. The acquiring organization shall be issued a prepaid funeral\n\nbenefit permit prior to the relinquishment of control of the trust\n\nby the selling organization. The acquiring organization shall not\n\naccess funds held in the trust until authorization has been given by\n\nthe Insurance Commissioner.\n\nE. Upon good cause shown, the Insurance Commissioner may deny\n\ntransfer of the trust from the selling organization to the acquiring\n\norganization.\n\nF. The Insurance Commissioner may take any actions pursuant to\n\nArticles 18 and 19 of this title as a means of safeguarding the\n\nrights and interests of the individual contract holders or\n\npurchasers, their beneficiaries, successors, or personal\n\nrepresentatives, or whenever necessary to protect the public\n\nwelfare. The organization may make application to the Insurance\n\nCommissioner to draw down funds upon fulfillment of the prepaid\n\nfuneral service contract.\n\nG. Whenever an organization refuses to submit the books,\n\nrecords, papers and instruments of the prepaid funeral benefit\n\ncontracts to the examination and inspection of the assistants or\n\nexaminers of the Insurance Commissioner, or refuses or neglects to\n\nestablish or maintain a prepaid funeral benefit permit in accordance\n\nwith the requirements of the Prepaid Funeral Benefits Act within\n\nninety (90) days after a written demand to establish or maintain a\n\nprepaid funeral benefit permit is made by the Insurance\n\nCommissioner, or in any manner obstructs or interferes with the\n\nexamination of its prepaid funeral benefit contracts or refuses to\n\nbe examined on oath concerning any of the affairs of its prepaid\n\nfuneral benefit contracts, or for any other grounds listed in\n\nArticle 18 or 19 of this title, the Insurance Commissioner may make\n\napplication for receivership in the manner of a domestic insurer or\n\ntake any other action pursuant to Articles 18 and 19 of this title,\n\nin addition to the penalties and other enforcement provisions of\n\nthis act.\n\nH. The Insurance Commissioner may prescribe rules concerning\n\nmatters incidental to this section.\n\nI. For the purposes of Sections 6121 through 6136.18 of this\n\ntitle, \"personal representative\" means the person or persons\n\ndesignated by the purchaser of the contract for prepaid funeral\no Articles 18 and 19 of this title,\n\nin addition to the penalties and other enforcement provisions of\n\nthis act.\n\nH. The Insurance Commissioner may prescribe rules concerning\n\nmatters incidental to this section.\n\nI. For the purposes of Sections 6121 through 6136.18 of this\n\ntitle, \"personal representative\" means the person or persons\n\ndesignated by the purchaser of the contract for prepaid funeral\n\nbenefits as having rights of ownership and control to the prepaid\n\nfunds upon death of the purchaser; the guardian, executor, or the\n\npersonal representative of the estate of the purchaser; or the\n\nclaiming successor or successors establishing lawful right to the\n\nprepaid funds in accordance with Section 393 of Title 58 of the\n\nOklahoma Statutes.","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":"c459852921bde58cd8b5354c674fcb5fc23ac9206f29d70e5a0c27619315a550","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-6124","next":"us-ok/okla.-stat.-tit.-36-36-6124.2"},"notice":"GroundRules: Original legal text. Not legal advice."}