{"data":{"id":"us-ok/okla.-stat.-tit.-47-47-425","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 47, § 47-425","heading":"Insurance policies and bonds - Parties to actions","body":"(a) No license shall be issued by the Commission until the\n\napplicant shall have filed with each application, and the same have\n\nbeen approved by the Commission, the following insurance policies\n\nand bonds issued by an insurance carrier or bonding company\n\nauthorized to do business within this state. In lieu of such\n\npolicies, the applicant may file the written certificate or\n\ncertificates of any insurance carrier duly authorized to do business\n\nin this state, certifying that it has issued to, or for the benefit\n\nof, the applicant, named as the insured therein, a policy or\n\npolicies meeting the requirements of this section as hereinafter\n\nprovided, and that said policy or policies are then in full force\n\nand effect. Such certificate or certificates shall give the dates\n\nof issuance and expiration of such policy or policies, and shall\n\ndesignate by explicit designation or by appropriate reference all\n\nmotor vehicles covered thereby.\n\n(1) A bond in the penal sum of Five Hundred Dollars ($500.00) in\n\nsuch form as may be prescribed by the Commission for the purpose of\n\nprotecting the public against fraud, conditioned upon the delivery\n\nof correct weights, measures, footage, or grades, if the commodities\n\nhandled by the itinerant merchant are those customarily sold by\n\nweights, measures, footage, or grades, accurate representation as to\n\nquality or class of such commodities, the actual payment of checks,\n\ndrafts or other obligations delivered by the itinerant merchant in\n\nexchange for the purchase of commodities, and conditioned to pay any\n\njudgment or judgments that may be obtained against the itinerant\n\nmerchant for civil liability arising out of the conduct of his\n\nbusiness, and further providing for the prompt payment of license\n\nfees and taxes to this state or any governmental subdivision\n\nthereof, including the matters hereinbefore specified in this\n\nparagraph, but not including any causes of action covered by the\n\ninsurance policies described in paragraph (2) of this subsection.\n\nSaid bond shall further provide that any person dealing with said\n\nitinerant merchant, any person using the commodities handled by him,\n\nand any person holding checks, drafts, or other obligations, shall\n\nhave cause of action upon said bond by reason of any violation of\n\nthe terms of said bond with respect to such dealing, said\n\ncommodities, or said checks, drafts or other obligations.\n\n(2) A liability insurance policy or bond which shall bind the\n\nobligors to pay compensation for injuries to persons and damage to\n\nproperty resulting from the negligent operation of the motor vehicle\n\noperated under authority of the itinerant merchant's license, said\n\npolicy or bond to be conditioned to pay any sum up to Twenty-five\n\nThousand Dollars ($25,000.00) for personal injury to or death of one\n\nindividual, and up to Fifty Thousand Dollars ($50,000.00) for\n\npersonal injuries or deaths resulting from any single accident, and\n\nup to Twenty-five Thousand Dollars ($25,000.00) for damage to\n\nproperty in any single accident.\ne conditioned to pay any sum up to Twenty-five\n\nThousand Dollars ($25,000.00) for personal injury to or death of one\n\nindividual, and up to Fifty Thousand Dollars ($50,000.00) for\n\npersonal injuries or deaths resulting from any single accident, and\n\nup to Twenty-five Thousand Dollars ($25,000.00) for damage to\n\nproperty in any single accident.\n\n(b) Every insurance policy and bond or certificate thereof filed\n\nwith the Commission under the provisions of this act shall contain\n\nan endorsement or provision that the same shall not be cancelled by\n\nthe obligor, shall not expire, and shall not become reduced in\n\namount, until thirty (30) days after notice by registered United\n\nStates mail has been sent to the Commission of the intention to\n\ncancel the same, or that the same is to expire or is to be reduced\n\nin amount. Upon receipt of such notice the Commission shall\n\nimmediately notify the itinerant merchant by registered United\n\nStates mail, return receipt requested, of the receipt of such\n\nnotice, and shall advise him that unless a new insurance policy or\n\nbond is filed to replace the one to be canceled, or to expire, or to\n\nbe reduced in amount, prior to the time such cancellation,\n\nexpiration or reduction becomes effective, the license of such\n\nitinerant merchant in connection with which said policy or bond was\n\nissued shall be revoked at the time such cancellation, expiration or\n\nreduction becomes effective. If a new policy or bond is not filed\n\nor the amount of the reduction restored prior to the time such\n\ncancellation, expiration or reduction becomes effective, the\n\nCommission must revoke said license at said time, and licensee shall\n\nreturn license and license plate to the Commission.\n\n(c) Any person having a cause of action against the itinerant\n\nmerchant arising out of the matters described in paragraphs (1) and\n\n(2) of subsection (a) of this section may join said itinerant\n\nmerchant and the surety on his bond in the same action, or may sue\n\nsaid surety without joining said itinerant merchant in the action if\n\nthe itinerant merchant is deceased or if it is impossible to obtain\n\njurisdiction of his person within the state where the cause of\n\naction arose.","path":["OK Code","Title 47"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os47.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"e4253ae50a5e67f0384f997007710d64fbad151a807ecb1730729aff971cf892","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-47-47-424","next":"us-ok/okla.-stat.-tit.-47-47-426"},"notice":"GroundRules: Original legal text. Not legal advice."}