Insurance; Oklahoma Life and Health Insurance Guaranty Association coverage; annuities; effective date.

Summary

The bill amends the Oklahoma Life and Health Insurance Guaranty Association Act to broaden who can receive protection for life, health and annuity contracts, including certain non‑resident beneficiaries and structured‑settlement annuity payees. It also clarifies exclusions—such as unlicensed issuers, self‑funded employer plans, and policies that exceed specified interest‑rate thresholds—to keep the guaranty fund focused on core risks. The changes aim to protect more consumers while preventing overlapping coverage from other states.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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