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OK HB1263
Bill
Status
2/7/2011
Primary Sponsor
Wade Rousselot
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AI Summary
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Prohibits insurance companies authorized to do business in Oklahoma from using credit information as a basis for premium or coverage determinations in personal insurance
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Repeals the Use of Credit Information in Personal Insurance Act (36 O.S. Sections 950-959), which had previously established rules governing how insurers could use credit information
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Creates a new section of law (Section 950.1 of Title 36) codifying the prohibition on credit-based insurance practices
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Effective date of November 1, 2011
Legislative Description
Insurance; prohibiting the use of credit information for certain purposes; repealing Use of Credit Information in Personal Insurance Act; effective date.
Insurance
Last Action
Second Reading referred to Rules
2/8/2011