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STATE OF OKLAHOMA
1st Session of the 58th Legislature (2021)
COMMITTEE SUBSTITUTE
FOR
HOUSE BILL NO. 2681 By: Marti
COMMITTEE SUBSTITUTE
An Act relating to insurance; amending 36 O.S. 2011,
Section 302, which relates to Insurance Commissio ner
qualifications; eliminating Insurance Commissioner
financial interest prohibition; and providing an
effective date.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 36 O.S. 2011, Sectio n 302, is
amended to read as follows:
Section 302. The Insurance Commissioner of the State of
Oklahoma shall be at least twenty -five (25) years of age and a
resident of the State of Oklahoma for at least five (5) years, and
have had at least five (5) year s' experience in the insurance
industry in administration, sales, servicing or regulation. The
Insurance Commissioner shall not be financially interested, directly
or indirectly, in any insurer, agency or insurance transaction
except as a policyholder or claimant under a policy.
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SECTION 2. This act shall become effective November 1, 2021.
58-1-7760 AMM 02/18/21