Oklahoma SB2019 creates the Political Subdivision Liability Insurance Guaranty Program to protect political subdivisions from excessive liability.
Oklahoma SB2019 establishes the Political Subdivision Liability Insurance Guaranty Program, designed to insure political subdivisions against excessive liability judgments. The bill creates a fund for this purpose, overseen by the Political Subdivision Insurance Fund Board. The Board, consisting of seven members appointed by various state officials, will set rules and guidelines for the program, including required contributions and claim procedures. The fund's monies, including interest, are not subject to appropriation and must be used solely for insuring political subdivisions.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.