Okla. Admin. Code § 365:25-23-2

Current through Vol. 41, No. 19, June 17, 2024

Section 365:25-23-2 - Permit required

(a) Pursuant to the Cemetery Merchandise Trust Act, any organization which shall accept money or anything of value for prepaid cemetery merchandise pursuant to a prepaid cemetery merchandise contract shall obtain a permit from the Oklahoma Insurance Department authorizing the transaction of this type of business prior to the commencement of this type of business. The Commissioner may deny the issuance of a permit if the organization or any of its owners or officers:

(1) Makes a material misstatement or misrepresentation in an application or permit;

(2) Has been sentenced, convicted, pled guilty or nolo contendre to a crime involving fraud, dishonesty or moral turpitude; or

(3) Fraudulently or deceptively obtains or attempts to obtain a permit for another.

(b) An application for cemetery merchandise permit shall be submitted to the Insurance Department in a manner and form prescribed by the Insurance Commissioner. The application shall contain the name of the organization, physical address, mailing address, and any other information the Insurance Commissioner may request. A copy of the trust agreement must be submitted with the application. The application must be filed with and approved by the Insurance Commissioner before money or anything of value for prepaid cemetery merchandise can be accepted. The statutory fee of $200.00 must accompany this application. An NAIC UCAA Biographical Affidavit must be submitted for each owner or officer of the organization.

Okla. Admin. Code § 365:25-23-2

Added at 28 Ok Reg 214, eff 10-19-10 (emergency); Added at 28 Ok Reg 1964, eff 7-14-11

Amended by Oklahoma Register, Volume 39, Issue 24, September 1, 2022, eff. 9/11/2022