Oklahoma § 36-2205 Trust instrument – Mandatory provisions.

Oklahoma Statutes

§ 36-2205 — Trust instrument – Mandatory provisions.

Oklahoma § 36-2205

Title 36Insurance

This text of Oklahoma § 36-2205 (Trust instrument – Mandatory provisions.) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 36, § 36-2205 (2026).

Text

In addition to the requirements of Section 60 of this act, the trust instrument shall provide: 1. That there shall be a minimum period during which any insured must participate in the trust; 2. That all insureds shall execute a participation agreement; 3. That the trustee shall be an individual or an institution such as a bank, insurance company or other appropriate entity; 4. A preliminary assessment of all insureds for initial expenses necessary to commence operation; 5. For establishment of necessary facilities; 6. Details of the management of the trust; 7. Procedures for assessment of all insureds to defray losses and expenses; 8. Description of commission arrangements; 9. Description of reasonable and objective underwriting standards; 10. Procedures for and description of acceptance a

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In addition to the requirements of Section 60 of this act, the trust instrument shall provide: 1. That there shall be a minimum period during which any insured must participate in the trust; 2. That all insureds shall execute a participation agreement; 3. That the trustee shall be an individual or an institution such as a bank, insurance company or other appropriate entity; 4. A preliminary assessment of all insureds for initial expenses necessary to commence operation; 5. For establishment of necessary facilities; 6. Details of the management of the trust; 7. Procedures for assessment of all insureds to defray losses and expenses; 8. Description of commission arrangements; 9. Description of reasonable and objective underwriting standards; 10. Procedures for and description of acceptance and cession of reinsurance; 11. Procedures for and descriptions of appointment of servicing carriers or other servicing arrangements; and 12. Procedures for determining amounts of insurance to be provided by the trust.