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OK HB1501

Bill

Official Source

Status

Passed

5/6/2025

Primary Sponsor

Mark Chapman

Click for details

Origin

House of Representatives

2026 Regular Session

AI Summary

  • Public insurance adjusters are limited to a maximum 10% commission on insurance settlements when adjusting claims for governmental entities subject to the Governmental Tort Claims Act

  • The 10% cap includes all compensation: commissions, expenses, direct costs, and any other costs accrued by the public adjuster

  • Creates new Section 6224 of Title 36 of the Oklahoma Statutes

  • Effective date: November 1, 2025

Legislative Description

Insurance; limiting certain compensation; prohibiting public adjusters from certain awards; effective date.

Last Action

Becomes law without Governor's signature 05/06/2025

5/6/2025

Committee Referrals

Business and Insurance4/1/2025
Insurance2/12/2025
Commerce and Economic Development Oversight2/12/2025
Rules2/4/2025

Full Bill Text

No bill text available