A. The purpose of the Oklahoma Life and Health Insurance Guaranty Association Act is to protect, subject to certain limitations, the persons specified in subsection A of Section 2025 of this title, against failure in the performance of contractual obligations, under life, health, and annuity policies, plans or contracts specified in subsection B of Section 2025 of this title, because of the impairment or insolvency of the member insurer that issued the policies, plans or contracts.
B. To provide this protection, an association of member 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.
Added by Laws 1981, c. 133, § 2. Amended by Laws 1987, c. 177, § 1, eff. Nov. 1, 1987; Laws 2019, c. 384, § 1, eff. Nov. 1, 2019.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.