Oklahoma SB1916 creates a division within the Insurance Department to manage supervisions, conservatorships, and receiverships.

Oklahoma SB1916 amends the Oklahoma Insurance Code to establish a division within the Insurance Department, called the Oklahoma Receivership Office, to handle the administration and operation of supervisions, conservatorships, and receiverships. The bill also updates definitions, clarifies powers for supervisors and conservators, and establishes immunity and indemnification for certain persons involved in delinquency proceedings. It further details the order of priority for claims distribution and the handling of assets and records during receiverships.

Oklahoma SB1916 creates a division within the Insurance Department to manage supervisions, conservatorships, and receiverships.

Oklahoma SB1916 amends the Oklahoma Insurance Code to establish a division within the Insurance Department, called the Oklahoma Receivership Office, to handle the administration and operation of supervisions, conservatorships, and receiverships. The bill also updates definitions, clarifies powers for supervisors and conservators, and establishes immunity and indemnification for certain persons involved in delinquency proceedings. It further details the order of priority for claims distribution and the handling of assets and records during receiverships.