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53	53	STATE OF OKLAHOMA
54	54
55	55	1st Session of the 59th Legislature (2023)
56	56
57	57	SENATE BILL 195 By: Hicks
58	58
59	59
60	60
61	61
62	62
63	63	AS INTRODUCED
64	64
65	65	An Act relating to motor vehicle liability pol icies;
66	66	amending 47 O.S. 2021, Section 7-324, which relates
67	67	to policy contents and coverages; increasing minimum
68	68	amount of insurance to be held for injury to or
69	69	destruction of property of others; making language
70	70	gender neutral; updating statutory la nguage; and
71	71	providing an effective date .
72	72
73	73
74	74
75	75	BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLA HOMA:
76	76	SECTION 1. AMENDATORY 47 O.S. 2021, Section 7 -324, is
77	77	amended to read as follows:
78	78	Section 7-324. (a) Certification. A “motor vehicle liability
79	79	policy” as the term is used in this article shall mean an “owner’s
80	80	policy” or an “operator’s policy” of liability insurance, certified
81	81	as provided in Section 7 -321 or Section 7-322 of this title as proof
82	82	of financial responsibility, and issued, except as otherwise
83	83	provided in Section 7-322 of this title, by an insurance carrier
84	84	duly authorized to transact business in this state, to or for the
85	85	benefit of the person named therein as insured.
86	86	(b) Owner’s policy. Such owner ’s policy of liability
87	87	insurance:
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139	139	1. Shall designate by explicit description or by appropr iate
140	140	reference all vehicles with respect to which coverage is thereby to
141	141	be granted; and
142	142	2. Shall insure the person named therein and any other person
143	143	except as herein provided, as insured, using any such the vehicle or
144	144	vehicles with the express or implie d permission of such the named
145	145	insured, against loss from the liability imposed by law fo r damages
146	146	arising out of the ownership, maintenance or use of such the vehicle
147	147	or vehicles within the United States of America or the Domi nion of
148	148	Canada, subject to li mits exclusive of inter est and costs, with
149	149	respect to each such vehicle, as follows: Twenty-five Thousand
150	150	Dollars ($25,000.00) because of bodily injury to or death of one
151	151	person in any one accident and, subject to said the limit for one
152	152	person, Fifty Thousand Dollars ($50,000.00) because of bodily injury
153	153	to or death of two or more persons in any one accident, and Twenty-
154	154	five Thousand Dollars ($25,000.00) Forty Thousand Dollars
155	155	($40,000.00) because of injury to or destruction of property of
156	156	others in any one ac cident.; and
157	157	3. May by agreement in a separate written endorsement between
158	158	any named insured and the insurer exclude as insured any p erson or
159	159	persons designated by name from coverage under the policy.
160	160	(c) Operator’s policy. Such operator’s policy of liability
161	161	insurance shall insure the person named as insured therein against
162	162	loss from the liability imposed upon him the person by law for
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214	214	damages arising out of the use by him that person of any motor
215	215	vehicle not owned by him or her, within the same territo rial limits
216	216	and subject to the same limits of liability as are set forth above
217	217	with respect to an owner ’s policy of liability insurance.
218	218	(d) Required statements in policies. Such motor vehicle
219	219	liability policy shall state the name and address of the name d
220	220	insured, the coverage afforded by the policy, the premium charged
221	221	therefor, the policy period and the limits of liability, and shall
222	222	contain an agreement or be en dorsed that insurance is provided
223	223	thereunder in accordance w ith the coverage defined in this chapter
224	224	as respects bodily injury and death or property damage, or both, and
225	225	is subject to all the provisions of this title.
226	226	(e) Policy need not insure workmen ’s compensation. Such motor
227	227	vehicle liability policy need not insure any liability under any
228	228	workmen’s workers’ compensation law nor any liability on account of
229	229	bodily injury to or death of an employee of the insured while
230	230	engaged in the employment, other than domest ic, of the insured, or
231	231	while engaged in the operati on, maintenance or repair of any such
232	232	vehicle nor any liability for damage to property owned by, rented
233	233	to, in charge of or transported by the insured.
234	234	(f) Provisions incorporated in policy. Every motor vehicle
235	235	liability policy shall be subject to the fo llowing provisions which
236	236	need not be contained therein:
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288	288	1. The liability of the insurance carrier with respect to the
289	289	insurance required by this title shall become absolute whenever
290	290	injury or damage cover ed by said such motor vehicle liability policy
291	291	occurs; said such policy may not be canceled or annulled as to such
292	292	liability by any agreement between the insurance carrier and the
293	293	insured after the occurrence of the injury or damage; no statement
294	294	made by the insured or on his behalf and no violation of said such
295	295	policy shall defeat or void said the policy.
296	296	2. The satisfaction by the insured of a judgment for such
297	297	injury or damage shall not be a condition precedent to the right or
298	298	duty of the insurance carrier to make payment on account of such
299	299	injury or damage.
300	300	3. The insurance carrier shall have the righ t to settle any
301	301	claim covered by the policy, and if such settlement is made in good
302	302	faith, the amount thereof shall be deductible from the limits of
303	303	liability specified in p aragraph 2 of subsection (b) of this
304	304	section.
305	305	4. The policy, the written applicati on therefor, if any, and
306	306	any rider or endorsement which does not conflict with the provisions
307	307	of this title shall constitute the entire contract between the
308	308	parties.
309	309	(g) Excess or additional coverage. An y policy which grants t he
310	310	coverage required for a m otor vehicle liability policy may also
311	311	grant any lawful coverage in excess of or in addition to the
312	312
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363	363	coverage specified for a motor vehicle liability policy and such
364	364	excess or additional coverage shall not be subject to the provi sions
365	365	of this title. With r espect to a policy which grants such excess or
366	366	additional coverage, the term “motor vehicle liability policy ” shall
367	367	apply only to that part of the coverage which is required by this
368	368	section.
369	369	(h) Reimbursement provision permitte d. Any motor vehicle
370	370	liability policy may provide that the insured shall reimburse the
371	371	insurance carrier for any payment the insurance carrier would not
372	372	have been obligated to make under the terms of the policy except for
373	373	the provisions of this title.
374	374	(i) Proration of insurance per mitted. Any motor vehicle
375	375	liability policy may provide for the prorating of the insurance
376	376	thereunder with other valid and collectible insurance.
377	377	(j) Multiple policies. Th e requirements for a motor vehic le
378	378	liability policy may be fulfilled by the policie s of one or more
379	379	insurance carriers which policies together meet such requirements.
380	380	(k) Binders. Any binder issued pending the issuance of a motor
381	381	vehicle liability policy shall be deemed to fulfill the requirements
382	382	for such a policy.
383	383	SECTION 2. This act shall become effective November 1, 2023.
384	384
385	385	59-1-1229 RD 1/9/2023 11:01:44 AM

Oklahoma 2024 Regular Session

Oklahoma Senate Bill SB195 Compare Versions