SB1403 Summary

• Changes the definition of "person" in the Oklahoma Insurance Code from "includes" to "means," creating a more restrictive legal definition.

• Specifies that "person" encompasses individuals, companies, insurers, associations, organizations, societies, reciprocals, inter-insurance exchanges, partnerships, syndicates, business trusts, corporations, Lloyd's associations, and farmers' educational and cooperative unions.

• Becomes effective November 1, 2012.