OK SB2163

Creates the Health Care Indemnity Trust Fund to pay a portion of noneconomic damages awarded in professional negligence cases against physicians in Oklahoma following jury verdicts.

Establishes a 7-member Board of Trustees appointed by the Governor, President Pro Tempore of the Senate (2 members, including 1 health care professional), Speaker of the House (2 members, including 1 with insurance/reinsurance expertise), CEO of Oklahoma Health Care Authority, and Insurance Commissioner.

Board members serve staggered initial terms ranging from 2011-2014, with subsequent appointments serving 4-year terms; members receive no salary but are reimbursed travel expenses and must meet quarterly with a majority constituting a quorum.

Requires the court to certify cases involving fund expenditures to the Attorney General and permits the State to intervene; the Attorney General must provide copies of proceedings to the Speaker and President Pro Tempore of the Senate.

Board must develop rules for insurance bids, solicit coverage bids, report implementation costs to the Legislature by December 1, 2010, and submit annual reports on fund investments to the Governor and State Treasurer; provisions subject to Open Meeting Act, Open Records Act, and Administrative Procedures Act.