SB289 Bill Summary

• Amends 36 O.S. 2001, Section 309.3 to eliminate the requirement that insurance companies bear the costs of professional examinations conducted by the Insurance Commissioner.

• Allows the Commissioner to retain attorneys, appraisers, actuaries, accountants, and other professionals for examinations without charging examination costs to the companies being examined.

• Maintains the Commissioner's authority to issue examination warrants, compel testimony through subpoenas, and suspend licenses for non-compliance with examinations.

• Declares an emergency effective date, meaning the act takes effect immediately upon passage and approval.