{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-7127","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-7127","heading":"Surety bond in lieu of trust requirement","body":"A. As an alternative to the trust requirements of Section 7126\n\nof this title, an organization may purchase a surety bond in an\n\namount not less than the minimum funding requirement.\n\nB. The surety bond shall be made payable to the State of\n\nOklahoma for the benefit of the Insurance Commissioner and all\n\npurchasers of prepaid cemetery merchandise. The bond shall be\n\napproved by the Commissioner.\n\nC. The Commissioner may establish by rule the requirements and\n\nguidelines for the surety bonds required pursuant to this section.\n\nD. A surety bond maintained under the provisions of this\n\nsection or Section 7124 of this title may be cancelled or terminated\n\nby the surety only by providing notice to the Commissioner, no later\n\nthan thirty (30) days before the effective date of the cancellation\n\nor termination. Notwithstanding the cancellation, termination, or\n\nexpiration of a bond maintained under this section or Section 7124\n\nof this title, the surety shall remain liable for obligations\n\narising during the term of the bond and prior to the termination,\n\ncancellation or expiration.","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":"f17d68dabd78905d48e512dbca94d25eb16b3cb6c49004b5d96f9fb06a790ca0","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-7126","next":"us-ok/okla.-stat.-tit.-36-36-7128"},"notice":"GroundRules: Original legal text. Not legal advice."}