Oklahoma 2022 Regular Session

Oklahoma Senate Bill SB1245 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1	1
2	2
	3	+	SB1245 HFLR Page 1
	4	+	BOLD FACE denotes Committee Amendments. 1
	5	+	2
	6	+	3
	7	+	4
	8	+	5
	9	+	6
	10	+	7
	11	+	8
	12	+	9
	13	+	10
	14	+	11
	15	+	12
	16	+	13
	17	+	14
	18	+	15
	19	+	16
	20	+	17
	21	+	18
	22	+	19
	23	+	20
	24	+	21
	25	+	22
	26	+	23
	27	+	24
3	28
4		-	An Act
5		-	ENROLLED SENATE
	29	+	HOUSE OF REPRESENTATIVES - FLOOR VERSION
	30	+
	31	+	STATE OF OKLAHOMA
	32	+
	33	+	2nd Session of the 58th Legislature (2022)
	34	+
	35	+	ENGROSSED SENATE
6	36		BILL NO. 1245 By: Quinn and Jett of the
7	37		Senate
8	38
9	39		and
10	40
11	41		Russ of the House
12	42
13	43
14	44
15	45		An Act relating to insurance; amending 36 O.S. 2021,
16	46		Section 302, which relates to the Insurance
17	47		Commissioner; prohibiting the Insurance Commissioner
18	48		from being financially interested in certain
19	49		entities; updating statutory language; and providing
20	50		an effective date.
21	51
22	52
23	53
24	54
25		-	~~SUBJECT: Insurance Commissioner qualific ations~~
	55	+
26	56
27	57		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
28		-
29	58		SECTION 1. AMENDATORY 36 O.S. 2021, Section 30 2, is
30	59		amended to read as follows:
31		-
32	60		Section 302. The Insurance Commissioner of the State of
33	61		Oklahoma this state shall be at least twenty -five (25) years of age
34	62		and a resident of the State of Oklahoma this state for at least five
35	63		(5) years, and have had at least five (5) years' experience in the
36	64		insurance industry in administration, sales, servicing or
37	65		regulation. The Insurance Commissioner shall not be financially
38	66		interested, directly or indirectly, in any insu rer, agency, or
	67	+
	68	+	SB1245 HFLR Page 2
	69	+	BOLD FACE denotes Committee Amendments. 1
	70	+	2
	71	+	3
	72	+	4
	73	+	5
	74	+	6
	75	+	7
	76	+	8
	77	+	9
	78	+	10
	79	+	11
	80	+	12
	81	+	13
	82	+	14
	83	+	15
	84	+	16
	85	+	17
	86	+	18
	87	+	19
	88	+	20
	89	+	21
	90	+	22
	91	+	23
	92	+	24
	93	+
39	94		insurance transaction, or other entity that is regulated by the
40	95		Insurance Department, except as a policyholder or claimant under a
41	96		policy.
42		-
43	97		SECTION 2. This act shall become effective November 1, 2022.
44	98
45		-
46		-	ENR. S. B. NO. 1245 Page 2
47		-	Passed the Senate the 7th day of March, 2022.
48		-
49		-
50		-
51		-	Presiding Officer of the Senate
52		-
53		-
54		-	Passed the House of Representatives the 28th day of April, 2022.
55		-
56		-
57		-
58		-	Presiding Officer of the House
59		-	of Representatives
60		-
61		-	OFFICE OF THE GOVERNOR
62		-	Received by the Office of the Governor this _______ _____________
63		-	day of _________________ __, 20_______, at _______ o'clock _______ M.
64		-	By: _______________________________ __
65		-	Approved by the Governor of the State of Oklahoma this _____ ____
66		-	day of _________________ __, 20_______, at _______ o'clock _______ M.
67		-
68		-	_________________________________
69		-	Governor of the State of Oklahoma
70		-
71		-
72		-	OFFICE OF THE SECRETARY OF STATE
73		-	Received by the Office of the Secretary of State this _______ ___
74		-	day of __________________, 20 _______, at _______ o'clock _______ M.
75		-	By: _________________________ ________
	99	+	COMMITTEE REPORT BY: COMMITTEE ON INSURANCE, dated 04/06/2022 - DO
	100	+	PASS.