OK SB528

Establishes the "Military Retainer Pay Protection Act" to govern division of military retirement and retainer pay in divorce proceedings under the federal Uniformed Services Former Spouses' Protection Act.

Specifies that if marriage duration coincided with less than 10 years of military service, retirement or retainer pay is solely the member's property; if 10 or more years, court may treat it as marital or separate property.

Prohibits courts from considering federal disability benefits awarded to veterans for combat-related disabilities as divisible property in divorce settlements.

Establishes a two-year statute of limitations from the final divorce decree for a party to apply to district court for division of disposable retired or retainer pay.

Provides that payments of disposable retired pay to former spouse terminate upon voluntary cohabitation or remarriage of the former spouse, with court authority to modify final orders upon proof of these conditions; effective November 1, 2011.