Oklahoma § 36-6125.1 Maximum amount of principal an organization may receive

Oklahoma Statutes

§ 36-6125.1 — Maximum amount of principal an organization may receive

Oklahoma § 36-6125.1

Title 36Insurance

This text of Oklahoma § 36-6125.1 (Maximum amount of principal an organization may receive) 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, § 36-6125.1 (2026).

Text

pursuant to insurance contract.

A.The maximum amount of principal which an organization may legally receive from any one individual pursuant to a contract establishing a fund for prepaid funeral benefits pursuant to paragraph 2 of subsection B of Section 6125 of this title shall be Twenty Thousand Dollars ($20,000.00).

B.The maximum allowable amount of principal for subsequent years shall be increased annually by a percentage equal to the previous year’s increase in the national Consumer Price Index (CPI). The Insurance Commissioner shall determine the amount of the increase, if any, on April 1 of each year.

Free access — add to your briefcase to read the full text and ask questions with AI

pursuant to insurance contract. A. The maximum amount of principal which an organization may legally receive from any one individual pursuant to a contract establishing a fund for prepaid funeral benefits pursuant to paragraph 2 of subsection B of Section 6125 of this title shall be Twenty Thousand Dollars ($20,000.00). B. The maximum allowable amount of principal for subsequent years shall be increased annually by a percentage equal to the previous year’s increase in the national Consumer Price Index (CPI). The Insurance Commissioner shall determine the amount of the increase, if any, on April 1 of each year.

Legislative History

Added by Laws 1988, c. 118, § 7, eff. Nov. 1, 1988. Amended by Laws 2000, c. 113, § 1, eff. July 1, 2000 and by Laws 2000, c. 353, § 44, eff. Nov. 1, 2000; Laws 2010, c. 354, § 1, eff. Nov. 1, 2010. NOTE: Laws 2000, c. 113, § 1 and Laws 2000, c. 353, § 44 contain duplicate amendments.