SECTION 365:10-5-61. Definitions

  Except as otherwise specifically defined in this section, the definitions set forth in Title 14A and Title 36 Oklahoma Statutes are incorporated herein and made a part hereof. The following words or terms, when used in this section, shall have the following meaning, unless the context clearly indicates otherwise:

"Commissioner" means the Insurance Commissioner of the State of Oklahoma.

"Consumer credit insurance" means insurance, other than insurance on property, by which the satisfaction of debt in whole or in part is a benefit provided, but does not include:

(A)   insurance provided in relation to a credit transaction in which a payment is scheduled more than fifteen (15) years after the extension of credit:

(B)   insurance issued as an isolated transaction on the part of the insurer not related to an agreement or plan for insuring debtors of the creditor, or

(C)   insurance indemnifying the creditor against loss due to the debtor's default.

"Person" means any individual, corporation, association, partnership, reciprocal exchange, interinsurer, Lloyds insurer, fraternal benefit society, and any other legal entity engaged in the business of insurance including agents, limited insurance representatives, brokers, and adjuster.