{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-6655","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-6655","heading":"Warranty reimbursement insurance policy requirements","body":"No warranty reimbursement insurance policy shall be issued,\n\nsold, or offered for sale in this state unless the policy meets the\n\nconditions set forth in this section and the Insurance Commissioner\n\nhas not disapproved the policy.\n\n1. The policy states that the issuer of the policy shall\n\nreimburse or pay on behalf of the vehicle protection product\n\nwarrantor all covered sums which the warrantor is legally obligated\n\nto pay or shall provide all service that the warrantor is legally\n\nobligated to perform according to the warrantor’s contractual\n\nobligations under the provisions of the insured warranties issued by\n\nthe warrantor.\n\n2. The policy states that in the event payment due under the\n\nterms of the warranty is not provided by the warrantor within sixty\n\n(60) days after proof of loss has been filed according to the terms\n\nof the warranty by the warranty holder, the warranty holder may file\n\ndirectly with the warranty reimbursement insurance company for\n\nreimbursement.\n\n3. The policy provides that a warranty reimbursement insurance\n\ncompany that insures a warranty shall be deemed to have received\n\npayment of the premium if the warranty holder paid for the vehicle\n\nprotection product and the insurer’s liability under the policy\n\nshall not be reduced or relieved by a failure of the warrantor, for\n\nany reason, to report the issuance of a warranty to the insurer.\n\n4. The policy has the following provisions regarding\n\ncancellation of the policy:\n\na. the issuer of a reimbursement insurance policy shall\n\nnot cancel such policy until a notice of cancellation\n\nin writing has been mailed or delivered to the\n\nInsurance Commissioner and each insured warrantor,\n\nb. the cancellation of a reimbursement insurance policy\n\nshall not reduce the issuer’s responsibility for\n\nvehicle protection products sold prior to the date of\n\ncancellation, and\n\nc. in the event an insurer cancels a policy that a\n\nwarrantor has filed with the Commissioner, the\n\nwarrantor shall do either of the following:\n\n(1) file a copy of a new policy with the\n\nCommissioner, before the termination of the prior\n\npolicy, providing no lapse in coverage following\n\nthe termination of the prior policy, and\n\n(2) discontinue offering warranties as of the\n\ntermination date of the policy until a new policy\n\nbecomes effective and is accepted by the\n\nCommissioner.","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":"3e8978db2af3efaa7224f000e7dd8afeadcad1356a41abe00dc3464ef52c2b92","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-6654","next":"us-ok/okla.-stat.-tit.-36-36-6656"},"notice":"GroundRules: Original legal text. Not legal advice."}