Section 6125.1 - Maximum amount of principal an organization may receive pursuant to insurance contractA. 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.Okla. Stat. tit. 36, § 6125.1
Added by Laws 1988, SB 612, c. 118, § 7, eff. 11/1/1988; Amended by Laws 2000 , SB 1420, c. 113, §1, emerg. eff. 7/1/2000; Amended by Laws 2000 , SB 108, c. 353, §44, eff. 11/1/2000; Amended by Laws 2010 , HB 1458, c. 354, §1, eff. 11/1/2010.