OK HB3000

Amends The Governmental Tort Claims Act to authorize structured settlements where state or political subdivision payments are completed within the fiscal year settlement is agreed to and parties sign a Qualified Assignment and Release Agreement.

Establishes that settlements exceeding $25,000 require district court approval and entry as a judgment unless covered by applicable insurance policies.

Adds contracts for annuities for structured settlements to the list of acquisitions exempt from The Oklahoma Central Purchasing Act requirements.

Retains existing settlement provisions requiring conferral with legal counsel and appropriate funding mechanisms for judgments and settlements.

Becomes effective November 1, 2010.