Regulations: 15 OS 141.1 to 141.35
Oklahoma Insurance Department (OID)

RIS@oid.ok.gov

The Regulated Industry Services (RIS) Division oversees the licensing, registration, and regulation of business entities that are not traditional insurance carriers. These business entities are, however, legally obligated to be regulated in some capacity by the OID.

A service warranty is a paid contract that lasts a set amount of time and promises repair or replacement if something fails because of defects or workmanship. Some may also cover wear and tear, towing, rental cars, emergency road service, road hazards, power surges, accidental damage, or other listed services. This also includes contracts that provide certain added motor-vehicle services.

Exceptions (Not Considered a Service Warranty)
a. Maintenance-only contracts with no promise of repair or replacement.
b. Contracts issued only by the manufacturer, distributor, importer, seller, or their affiliates, when they have insurance covering 100% of claims.
c. Contracts between consumers and nonprofit organizations for condo associations or condo owners, covering appliance or property maintenance.
d. Contracts issued by companies that: – Perform at least 70% of service work themselves (not subcontracted)
– Have sold and honored contracts in Oklahoma for at least 20 years
e. Contracts from companies with more than $100 million in net assets.
– A service warranty association may use a parent company’s assets to qualify if:
• The issuing company has at least $25 million in net assets
• The parent has at least $75 million, not counting the association’s assets
f. Service warranties are not insurance.
g. Motor service club contracts (Article 31, Title 36).
h. Home service contracts or home warranties (Section 6750 et seq., Title 36).

Service Warranty Association
A person or company (not an insurer) that is responsible for fulfilling a service warranty.
Does not include anyone building new homes.

Statutes 

Oklahoma Service Warranty Fee Timeline (2027–2029)

1. Initial or Renewal Application Requirements

Submission

• All applications and fees must be submitted electronically through the OPTins system.
• The Initial/Renewal application must be completed in full.
• The applicant must maintain an active registration with the Oklahoma Secretary of State.

Required Documents

• Organization chart.
• Biographical affidavits for all listed directors and officers.
• If requested by OID:
  • Certified articles of incorporation.
  • Certified bylaws.

Financial Documentation (Choose Option A or Option B)
Financial statements must be dated within the past 365 days.

Option A – Reserve Account Requirements

• Maintain a funded, unearned reserve account according to 15 O.S. § 141.6(A).
• Upload a financial statement audited under statutory accounting principles.
• Upload a surety bond:
  • Issued by an authorized surety.
  • At least 5% of gross provider fee received (minus claims paid).
  • Minimum bond amount: $25,000.

Option B – Insurance Policy Requirements

• Maintain an insurance policy that meets 15 O.S. § 141.6(B).
• Upload a financial statement:
  • Verified under oath by at least two principal officers.
  • Prepared according to generally accepted accounting principles (GAAP).

Additional Form

• Complete and upload the Reinsurance Form.

Due every year on or before May 1.

Required Documents

• Completed Annual Statement form.
• Financial documentation meeting the same requirements listed in Option A or Option B above.
• Completed Reinsurance Form.

How to Submit

• Upload the Contact Change Form to the most recent initial or renewal application in OPTins.
• OID will update and attach the change to the application record.

Timeliness Requirements

• Changes in legal business name, DBA/assumed name, address, or contact email must be submitted within 30 days.
• Submissions made after 30 days must include a $50 violation fee.

Payment

• Violation fees must be paid online through the “Pay RIS Violation Fee” webpage.

Service Warranty Forms

Contractual Liability Policy Checklist
Surety Bond Form
License Surrender Form
Address/Contact Change