Bill > SB2049

This bill requires the Oklahoma Department of Transportation (DOT) to obtain approval from the Attorney General before pursuing a claim against a surety company for financial losses resulting from a contractor's failure to complete a project. Specifically, the DOT must first inform the Attorney General of its intention to make such a claim, providing relevant information for review. The Attorney General will then decide whether to approve or disapprove the claim, and the DOT can only proceed with the claim if it receives the Attorney General's approval. This new requirement is intended to add an oversight step before the state seeks financial recourse from surety companies, which are essentially insurance providers for contractors. The bill will become effective on November 1, 2026.

Transportation and Infrastructure

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb2049&Session=2600