{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-6654","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-6654","heading":"Financial security requirements for sales of products","body":"No vehicle protection product shall be sold or offered for sale\n\nin this state unless the warrantor meets the conditions specified in\n\neither paragraph 1 or 2 of this section in order to ensure adequate\n\nperformance under the warranty. No other financial security\n\nrequirements or financial standards for warrantors shall be\n\nrequired.\n\n1. The vehicle protection product warrantor is insured under a\n\nwarranty reimbursement policy issued by an insurer authorized to do\n\nbusiness in this state which provides that:\n\na. the insurer will pay to, or on behalf of, the\n\nwarrantor one hundred percent (100%) of all sums that\n\nthe warrantor is legally obligated to pay according to\n\nthe warrantor’s contractual obligations under the\n\nwarrantor’s vehicle protection product warranty,\n\nb. a true and correct copy of the warranty reimbursement\n\ninsurance policy has been filed with the Insurance\n\nCommissioner by the warrantor, and\n\nc. the policy contains the provision required in Section\n\n7 of this act.\n\n2. a. The vehicle protection product warrantor, or its\n\nparent company in accordance with subparagraph b of\n\nthis paragraph, maintains a net worth or stockholders’\n\nequity of Fifty Million Dollars ($50,000,000.00), and\n\nb. the warrantor provides the Commissioner with a copy of\n\nthe warrantor’s or the warrantor’s parent company’s\n\nmost recent Form 10-K or Form 20-F filed with the\n\nSecurities and Exchange Commission within the last\n\ncalendar year or, if the warrantor does not file with\n\nthe Securities and Exchange Commission, a copy of the\n\nwarrantor or the warrantor’s parent company’s audited\n\nfinancial statements that shows a net worth of the\n\nwarrantor or its parent company of at least Fifty\n\nMillion Dollars ($50,000,000.00). If the warrantor’s\n\nparent company’s Form 10-K, Form 20-F, or audited\n\nfinancial statements are filed to meet the warrantor’s\n\nfinancial stability requirement, then the parent\n\ncompany shall agree to guarantee the obligations of\n\nthe warrantor relating to warranties issued by the\n\nwarrantor in this state. The financial information\n\nfiled under this subparagraph shall be confidential as\n\na trade secret of the entity filing the information\n\nand not subject to public disclosure.","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":"4b004a7efc03fdcc1b89d269c27f3d84405e2bf05d29fb39ee91710d4d6bacd0","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-6653","next":"us-ok/okla.-stat.-tit.-36-36-6655"},"notice":"GroundRules: Original legal text. Not legal advice."}