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Okla. Stat. tit. 36, § 6125.1

Maximum amount of principal an organization may receive pursuant to insurance contract

Added by Laws 1988, c. 118, § 7, eff

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.

Official source: Oklahoma Legislature. Reproduced from public-domain Oklahoma statutes; confirm against the official source for the current text. Not legal advice.