Insurance Department; creating certain division within the Insurance Department; establishing powers for certain conservator; allowing contacts. Effective date.

Summary

The bill establishes a dedicated division within the Oklahoma Insurance Department to handle the administration of insurer supervisions, conservatorships, and receiverships. It gives the Insurance Commissioner broad powers to appoint conservators, require audits, control records, and manage insurer assets, while also providing immunity and indemnity protections for officials. The changes are intended to improve oversight of financially troubled insurers and protect policyholders.

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

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