OK SB962

Allows licensed insurance producers to receive a fee from insured parties in addition to commissions.

Requires insurance producers to disclose in writing to the insured the full amount of any fee (either by dollar amount or commission percentage) prior to sale of the policy.

Written disclosure must be signed by both the insurance producer and insured, with signatures representing agreement to pay the specified fee.

Requires insurance producers to retain the written disclosure form for five years.

Effective date: November 1, 2011.