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Oklahoma Administrative Code (Last Updated: March 11, 2021) |
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TITLE 365. Insurance Department |
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Chapter 25. Other Licensees |
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Subchapter 3. Producers, Brokers, Limited Lines Producers and Vehicle Protection Product Warrantors |
SECTION 365:25-3-4. Knowledge of producer imputed to the insurer
Latest version.
- (a) Purpose. The purpose of this section is to prohibit the inclusion of language in insurance contract which purports to abrogate or limit the imputation of knowledge of the producer to the insurer.(b) Person soliciting policy deemed agent of issuing company.(1) Any person who solicits and procures an application for insurance, and policies issued in consequence thereof, shall be regarded as the agent of the company issuing the policy. All provisions in the application and policy contracts to the contrary are void and are of no effect.(2) No application form or contract of insurance shall be approved by the Commissioner of Insurance of the State of Oklahoma which purports to abrogate, impinge upon, interfere with, or any way prejudice the imputation of knowledge communicated to the agent, acting within the scope of his employment, to the insurer.