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OK HB1516
Bill
Status
5/15/2025
Primary Sponsor
Chris Banning
Click for details
AI Summary
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Raises the minimum age for minors to contract for life or accident and health insurance from 15 to 16 years old, and now requires signed parental or guardian consent for such contracts
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Requires signed parental or guardian consent for minors aged 16 and older to contract for other types of insurance on subjects in which they have an insurable interest
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Minors with proper consent are treated as having full legal capacity to exercise rights under their insurance contracts, including surrendering policies and receiving benefits
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Insurance agents are immune from liability for failure to obtain the required signed parental or guardian consent
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Effective date: November 1, 2025
Legislative Description
Insurance; minors; contract for insurance; parental or guardian consent; effective date.
Last Action
Becomes law without Governor's signature 05/15/2025
5/15/2025