OK HB1286

Allows private employers (except public employers) to elect whether to obtain workers' compensation insurance coverage, making coverage optional rather than mandatory.

Requires employers who decline coverage to notify the Workers' Compensation Court and Insurance Commissioner in writing, and requires employers to notify employees in writing and post notices about their coverage status.

Employers without coverage cannot use certain common law defenses (contributory negligence, assumption of risk, fellow employee negligence) when employees sue for workplace injuries, but may defend based on employee intent to injure or intoxication.

Employees of uninsured employers can opt to retain their common law rights of action by notifying their employer in writing within 5 days of hiring or coverage changes, and cannot be required to waive these rights as a condition of employment.

Amends existing law to allow employers with 5 or fewer employees who are all related by blood or marriage to the owner to be exempt from workers' compensation requirements; effective date November 1, 2011.