Oklahoma 2022 Regular Session

Oklahoma House Bill HB4276 Compare Versions

Version 1 (Old)

Version 2 (New)

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3		-	HB4276 HFLR Page 1
4		-	BOLD FACE denotes Committee Amendments. 1
	3	+	Req. No. 9741 Page 1 1
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29		-	HOUSE OF REPRESENTATIVES - FLOOR VERSION
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31	28		STATE OF OKLAHOMA
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33	30		2nd Session of the 58th Legislature (2022)
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35	32		HOUSE BILL 4276 By: Sneed
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41	38		AS INTRODUCED
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43	40		An Act relating to insurance; amending 47 O.S. 20 21,
44	41		Section 7-324, which relates to motor vehicle
45	42		liability policies; modifying minimum i nsurance
46	43		coverage requirements; and providing an effective
47	44		date.
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53	50		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
54	51		SECTION 1. AMENDATORY 47 O.S. 20 21, Section 7-324, is
55	52		amended to read as follows:
56	53		Section 7-324. (a) A. Certification. A "motor vehicle
57	54		liability policy" as the term is used in this article shall mean an
58	55		"owner's policy" or an "operator's policy" of liability insurance,
59	56		certified as provided in Section 7 -321 or Section 7-322 for which a
60	57		security verification form, as defined in Se ction 7-600 of this
61	58		title, has been issued as proof of financial responsibility, and
62	59		issued, except as otherwise provided in Section 7-322 7-204 of this
63	60		title, by an insurance carrier duly authorized to transact business
	61	+	in this state, to or for the benefi t of the person named therein a s
	62	+	insured.
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65		-	HB4276 HFLR Page 2
66		-	BOLD FACE denotes Committee Amendments. 1
	64	+	Req. No. 9741 Page 2 1
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91		-	in this state, to or for the benefi t of the person named therein a s
92		-	insured.
93	89		(b) B. Owner's policy. Such owner 's policy of liability
94	90		insurance:
95	91		1. Shall designate by explicit description or by appropriate
96	92		reference all vehicles with respect to which coverag e is thereby to
97	93		be granted; and
98	94		2. Shall insure the person na med therein and any other person
99	95		except as herein provided, as insured, using any such vehicle or
100	96		vehicles with the express or implied permission of such named
101	97		insured, against loss from the lia bility imposed by law for damag es
102	98		arising out of the ownership , maintenance or use of such vehicle or
103	99		vehicles within the United States of America or the Dominion of
104	100		Canada, subject to limits exclusive of interest and costs, with
105	101		respect to each such vehic le, as follows: Twenty-five Thousand
106	102		Dollars ($25,000.00) bec ause of bodily injury to or death of one
107	103		person in any one accident and, subject to said limit for one
108	104		person, Fifty Thousand Dollars ($50,000.00) because of bodily injury
109	105		to or death of two or more persons in any one acciden t, and Twenty-
110	106		five Thousand Dollars ($25,000.00) because of injury to or
111	107		destruction of property of others in any one accident.
112	108		a. beginning on January 1, 202 3, Thirty Thousand Dollars
113	109		($30,000.00) because of bodily injury to or death of
114	110		one person in any one accident and, subject to sa id
	111	+	limit for one person, Sixty Thousand Dollars
	112	+	($60,000.00) because of bodily injury to or death of
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116		-	HB4276 HFLR Page 3
117		-	BOLD FACE denotes Committee Amendments. 1
	114	+	Req. No. 9741 Page 3 1
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142		-	limit for one person, Sixty Thousand Dollars
143		-	($60,000.00) because of bodily injury to or death of
144	139		two or more persons in any one accident, and Thirty
145	140		Thousand Dollars ($30,000.00) because of injury to or
146	141		destruction of property of others in any one acci dent,
147	142		b. beginning on January 1, 202 4, Thirty-five Thousand
148	143		Dollars ($35,000.00) because of bodily injury to or
149	144		death of one person in any one accident and, subject
150	145		to said limit for one person, Seventy Thousand Dollars
151	146		($70,000.00) because of bodily injur y to or death of
152	147		two or more persons i n any one accident, and Thirty -
153	148		five Thousand Dollars ($35,000.00) because of injury
154	149		to or destruction of property of others in any one
155	150		accident,
156	151		c. beginning on January 1, 2025, Forty Thousand Dollars
157	152		($40,000.00) because of bodily injury to or death of
158	153		one person in any one accident and, subject to said
159	154		limit for one person, Eighty Thousand Dollars
160	155		($80,000.00) because of bodily injury to or death of
161	156		two or more persons in any one acciden t, and Forty
162	157		Thousand Dollars ($40,000.00) because of injury to or
163	158		destruction of property of others in any one accident ,
164	159		d. beginning on January 1, 202 6, Forty-five Thousand
165	160		Dollars ($45,000.00) because of bodily injury to o r
	161	+	death of one person in any on e accident and, subject
	162	+	to said limit for one person, Ninety Thousand Dollars
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167		-	HB4276 HFLR Page 4
168		-	BOLD FACE denotes Committee Amendments. 1
	164	+	Req. No. 9741 Page 4 1
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193		-	death of one person in any on e accident and, subject
194		-	to said limit for one person, Ninety Thousand Dollars
195	189		($90,000.00) because of bodily injury to or death of
196	190		two or more persons in any one accident, and Forty-
197	191		five Thousand Dollars ($45,000.00) because of injury
198	192		to or destruction of property of others in any one
199	193		accident, and
200	194		e. beginning on January 1, 202 7, Fifty Thousand Dollars
201	195		($50,000.00) because of bodily injury to or death of
202	196		one person in any one accident and, subject to said
203	197		limit for one person , One Hundred Thousand Dollars
204	198		($100,000.00) because of bodily injury to or death of
205	199		two or more persons in any one accident, and Fifty
206	200		Thousand Dollars ($50,000.00) because of injury to or
207	201		destruction of property of others in any one accident ;
208	202		and
209	203		3. May by agreement in a separate wri tten endorsement between
210	204		any named insured and the insurer exclude as insured any person or
211	205		persons designated by name from coverage under the policy.
212	206		(c) C. Operator's policy. Such operator 's policy of liability
213	207		insurance shall insure the person named a s insured therein against
214	208		loss from the liability imposed upon him or her by law for damages
215	209		arising out of the use by him or her of any motor vehicle not owned
216	210		by him or her, within the same territorial limits and subject to the
	211	+	same limits of liability a s are set forth above with resp ect to an
	212	+	owner's policy of liability insurance.
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218		-	HB4276 HFLR Page 5
219		-	BOLD FACE denotes Committee Amendments. 1
	214	+	Req. No. 9741 Page 5 1
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244		-	same limits of liability a s are set forth above with resp ect to an
245		-	owner's policy of liability insurance.
246	239		(d) D. Required statements in policies. Such motor vehicle
247	240		liability policy shall state the name and address of the named
248	241		insured, the coverage afforded by the policy, the pr emium charged
249	242		therefor, the policy period and the limits of liability, and shall
250	243		contain an agreement or be endorsed that insurance is provided
251	244		thereunder in accordance with the coverage defined in this chapter
252	245		as respects bodily injury and death or proper ty damage, or both, and
253	246		is subject to all the provisions of this title.
254	247		(e) E. Policy need not insure workmen's workers' compensation.
255	248		Such motor vehicle liability policy need not insure any liability
256	249		under any workmen's workers' compensation law nor any liability on
257	250		account of bodily injury to or death of an employee of the insured
258	251		while engaged in the employment, other than domestic, of the
259	252		insured, or while engaged in the operation, maintenance or repair of
260	253		any such vehicle nor any liability for damage to property owned by,
261	254		rented to, in charge of or transported by the insured.
262	255		(f) F. Provisions incorporated in policy. Every motor vehicle
263	256		liability policy shall be subject to the following provisions which
264	257		need not be contained therein:
265	258		1. The liability of the insurance carrier wit h respect to the
266	259		insurance required by this title shall become absolute whenever
267	260		injury or damage covered by said motor vehicle liability policy
	261	+	occurs; said policy may not be canceled or annull ed as to such
	262	+	liability by any agreement between the insurance carrier and the
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269		-	HB4276 HFLR Page 6
270		-	BOLD FACE denotes Committee Amendments. 1
	264	+	Req. No. 9741 Page 6 1
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295		-	occurs; said policy may not be canceled or annull ed as to such
296		-	liability by any agreement between the insurance carrier and the
297	289		insured after the occurrence of the injury or damage; no statement
298	290		made by the insured or on his or her behalf and no violation of said
299	291		policy shall defeat or void said policy.
300	292		2. The satisfaction by the ins ured of a judgment for such
301	293		injury or damage shall not be a condition precedent to the right or
302	294		duty of the insurance carrier to make payment on account of such
303	295		injury or damage.
304	296		3. The insurance carrier shall have the right to settle any
305	297		claim covered by the policy, and if such settle ment is made in good
306	298		faith, the amount thereof shall be deductible from the limits of
307	299		liability specified in paragraph 2 of subsection (b) B of this
308	300		section.
309	301		4. The policy, the written applicat ion therefor, if any, and
310	302		any rider or endorsement which does not conflict with the provisions
311	303		of this title shall constitute the entire contract between the
312	304		parties.
313	305		(g) G. Excess or additional coverage. Any policy which grants
314	306		the coverage required for a motor vehicle liability poli cy may also
315	307		grant any lawful coverage in excess of or in addition to the
316	308		coverage specified for a motor vehicle liability policy and such
317	309		excess or additional coverage shall not be subject to the provisions
318	310		of this title. With respect to a policy which gr ants such excess or
	311	+	additional coverage, the term "motor vehicle liability policy " shall
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320		-	HB4276 HFLR Page 7
321		-	BOLD FACE denotes Committee Amendments. 1
	313	+	Req. No. 9741 Page 7 1
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346		-	additional coverage, the term "motor vehicle liability policy " shall
347	338		apply only to that part of the coverage which is required by this
348	339		section.
349	340		(h) H. Reimbursement provision permitted. Any motor vehicle
350	341		liability policy may provide t hat the insured shall reimburse the
351	342		insurance carrier for any payment the insurance carrier would not
352	343		have been obligated to make under the terms of the policy except for
353	344		the provisions of this title.
354	345		(i) I. Proration of insurance permitted. Any motor ve hicle
355	346		liability policy may prov ide for the prorating of the insurance
356	347		thereunder with other valid and collectible insurance.
357	348		(j) J. Multiple policies. The requirements for a motor vehicle
358	349		liability policy may be fulfilled b y the policies of one or more
359	350		insurance carriers which policie s together meet such requirements.
360	351		(k) K. Binders. Any binder issued pending the issuance of a
361	352		motor vehicle liability policy shall be deemed to fulfill the
362	353		requirements for such a policy.
363	354		SECTION 2. This act shall become effective Janua ry 1, 2023.
364	355
365		-	COMMITTEE REPORT BY: COMMITTEE ON INSURANCE, dated 03/02/2022 - DO
366		-	PASS.
	356	+	58-2-9741 MJ 12/27/21