2014 Oklahoma Statutes
Title 36. Insurance
§36-2022. Purpose of act.
A. The purpose of this act is to protect, subject to certain limitations, the persons specified in subsection A of Section 2025 of the Insurance Code, against failure in the performance of contractual obligations, under life and health insurance policies and annuity contracts specified in subsection B of Section 2025 of the Insurance Code, because of the impairment or insolvency of the member insurer that issued the policies or contracts.
B. To provide this protection, an association of insurers has been created and exists to pay benefits and to continue coverages as limited in this act, and members of the Association are subject to assessment to provide funds to carry out the purposes of this act.
Amended by Laws 1987, c. 177, § 1, eff. Nov. 1, 1987.
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