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STATE OF OKLAHOMA
2nd Session of the 58th Legislature (2022)
SENATE BILL 1245 By: Quinn
AS INTRODUCED
An Act relating to insurance; amending 36 O.S. 2021,
Section 302, which relates to the Insurance
Commissioner; prohibiting the Insurance Commissioner
from being financially interested in certain
entities; and providing an effective date .
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 36 O.S. 2021, Section 302, is
amended to read as follows:
Section 302. The Insurance Commissioner of the State of
Oklahoma this state shall be at least twenty -five (25) years of age
and a resident of the State of Oklahoma this state for at least five
(5) years, and have had at least five (5) ye ars' experience in the
insurance industry in administration, sales, servicing or
regulation. The Insurance Commissioner shall not be financially
interested, directly or indirectly, in any insu rer, agency, or
insurance transaction, or other entity that is regulated by the
Insurance Department, except as a policyholder or claimant under a
policy.
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SECTION 2. This act shall become effective Novem ber 1, 2022.
58-2-2883 RJ 1/11/2022 3:07:15 PM