Okla. Admin. Code § 165:75-5-40
Each licensed cotton gin utility owner or operator shall insure, and at all times, keep insured in his name all seed cotton, baled cotton, and cotton transporting vehicles owned by the cotton producer for the full market value thereof against loss from fire, windstorm, tornado, explosion, collision, and theft while in the custody of the cotton gin utility. Each cotton gin utility owner or operator shall, at his own expense, take the necessary steps to collect any monies which may be due as indemnity for any loss or damage. For the purpose of this Section, full market value shall mean the value used by underwriters in paying losses. The insurance carrier issuing the policy must be licensed in the State of Oklahoma.
Okla. Admin. Code § 165:75-5-40