# OK Bulletin 2024-01: Bulletin No. 2024-01: 2024 Maximum Amount of Principle Allowed for Non-Specified Contracts

> Oklahoma · Agency guidance · In force

URL: https://www.frixlaw.com/law-library/statutes/OK_INS_B_2024-01

## Section

- **Citation:** OK Bulletin 2024-01
- **Heading:** Bulletin No. 2024-01: 2024 Maximum Amount of Principle Allowed for Non-Specified Contracts
- **Jurisdiction:** Oklahoma
- **Kind:** Agency guidance
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Oklahoma Insurance Department Bulletins / Bulletin No. 2024-01: 2024 Maximum Amount of Principle Allowed for Non-Specified Contracts

## Text

BULLETIN NO. 2024-01

TO:
OKLAHOMA PREPAID FUNERAL BENEFIT PERMIT HOLDERS

RE:
2024 MAXIMUM AMOUNT OF PRINCIPAL ALLOWED FOR NON-
SPECIFIED CONTRACTS

FROM:
GLEN MULREADY, INSURANCE COMMISSIONER

DATE:
FEBRUARY 16, 2024

The Regulated Industry Services Division of the Oklahoma Insurance Department registers and
regulates Prepaid Funeral Benefits (PFB) permit holders, pursuant to the Prepaid Funeral Services
and Funeral Service Merchandise Act (the “Act”), OKLA. STAT. tit. 36 §§ 6121, et seq.
The maximum amount of principal which an organization may legally receive from any one
individual non-specified contract establishing a fund for PFB, pursuant to the Act, OKLA. STAT.
tit. 36 § 6125 (B)(2), is Twenty Thousand Dollars ($20,000.00). See, 36 O.S. § 6125.1 (A).

The Insurance Commissioner is authorized to increase this amount annually by the previous year’s
increase in the national Consumer Price Index (“CPI”) on April 1st of each year. See, 36 O.S.
§ 6125.1 (B).

Effective April 1, 2024, the Insurance Commissioner has determined the maximum amount of
principal for any one individual non-specified PFB contract established under § 6125 (B)(2), based
on the CPI for the year beginning April 1, 2024, and ending April 1, 2025, is Twenty-eight
Thousand Six Hundred and Seventy Dollars ($28,670.00). 36 O.S. § 6125.1 (B).

Questions or concerns regarding this increase, as well as all other PFB related matters, may be
emailed to RIS@oid.ok.gov.

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/OK_INS_B_2024-01. Check the current official text before relying on it. Not legal advice.