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Bill > HB3796
OK HB3796
OK HB3796Insurance; enforcement and power of the Insurance Commissioner; bulletins; Strengthen Oklahoma Homes Program; expanding length of program; acquisitions; Long-Term Care Insurance Act; prohibiting persons from selling without proper license; effective date.
summary
Introduced
02/02/2026
02/02/2026
In Committee
02/26/2026
02/26/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
An Act relating to insurance; amending Section 8, Chapter 345, O.S.L. 2024 (36 O.S. Supp. 2025, Section 323), which relates to the enforcement power and authority of the Insurance Commissioner; establishing that bulletins published by previous Insurance Commissioners shall expire following inauguration of next Insurance Commissioner; allowing Commissioner to continue bulletin; clarifying Commissioner has the authority to issue, amend, or terminate a bulletin at any time; amending Section 2, Chapter 293, O.S.L. 2024 (36 O.S. Supp. 2025, Section 972), which relates to the Strengthen Oklahoma Homes Program; expanding length of program indefinitely; amending 36 O.S. 2021, Section 1633, which relates to the acquisition of control of or merger with domestic insurers; requiring individuals filing statement with the Commissioner to include personal financial statements reviewed by an independent public accountant; amending 36 O.S. 2021, Section 4423, which relates to the application of the Long-Term Care Insurance Act; prohibiting persons from selling, soliciting, or negotiating long-term care insurance without proper license; repealing 36 O.S. 2021, Section 1416, which relates to the state innovation waiver; and providing an effective date.
AI Summary
This bill makes several changes to Oklahoma's insurance laws, including clarifying the Insurance Commissioner's authority to issue, amend, or terminate bulletins, which are official notices or instructions, and ensuring that bulletins from previous commissioners expire after a new one takes office unless continued. It also extends the "Strengthen Oklahoma Homes Program" (SOH Program), designed to help homeowners make their homes more resistant to windstorm damage, indefinitely, removing its previous expiration date. Furthermore, the bill requires individuals seeking to acquire control of or merge with an insurance company to provide personal financial statements reviewed by an independent accountant, in addition to audited financial information. It also mandates that individuals selling, soliciting, or negotiating long-term care insurance must hold a proper license, specifically for accident and health or life insurance. Finally, the bill repeals a section related to state innovation waivers and sets an effective date of November 1, 2026.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Authored by Senator Coleman (principal Senate author) (on 02/26/2026)
Official Document
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