OK SB1439

Amends embezzlement law (21 O.S. § 1451) to allow aggregation of a series of offenses into one offense when they result from a plan, scheme, or mechanism causing recurring takings on a continuing course of conduct.

Creates felony penalty for fraudulent insolvency of insurance companies licensed in Oklahoma, punishable by up to 5 years imprisonment and up to $50,000 fine (21 O.S. § 1639).

Increases penalty for false or fraudulent insurance claims from $1,000 fine to twice the aggregated loss sum, with up to 3 years imprisonment (21 O.S. § 1662).

Expands the Anti-Fraud Unit's authority to investigate insurance fraud violations and any insurance product or organization used as an instrument of criminal activity (36 O.S. § 361).

Provides civil and criminal immunity to insurers, employees, agents, and other persons reporting suspected insurance fraud to the Anti-Fraud Unit, subject to exceptions for fraud, bad faith, or reckless disregard (36 O.S. § 363).

Authorizes seizure and forfeiture of property used in or derived from insurance-related crimes, with proceeds from sale directed to the Insurance Department Anti-Fraud Revolving Fund (36 O.S. §§ 364-365).

Effective July 1, 2012, with emergency clause for immediate effect upon passage and approval.