HB 1497 Summary

• Amends Oklahoma insurance holding company system registration requirements under 36 O.S. 2021, Sections 1631, 1635, and 1640

• Requires ultimate controlling persons of registered insurers to file annual group capital calculations in accordance with NAIC Group Capital Calculation Instructions, with exemptions for certain holding company systems including those with single insurers, Federal Reserve-regulated entities, and those in reciprocal jurisdictions

• Requires ultimate controlling persons of registered insurers scoped into the NAIC Liquidity Stress Test Framework to file annual Liquidity Stress Test results to the lead state insurance commissioner, with scope criteria reviewed annually and effective January 1 following adoption

• Establishes that group capital calculations, Liquidity Stress Test results, and related information are proprietary and contain trade secrets, making them confidential and privileged; prohibits public disclosure except as authorized by the Commissioner and restricts use to regulatory purposes

• Becomes effective November 1, 2025