SB 1916 Oklahoma Senate · 2026 Regular Session

Insurance Department; creating certain division within the Insurance Department; establishing powers for certain conservator; allowing contacts. Effective date.

SB 1916 creates a new division within Oklahoma's Insurance Department to manage supervisions, conservatorships, and receiverships of insurers. It requires all existing cases to transition to this division by January 1, 2028, and clarifies the Insurance Commissioner's authority to hire contractors, conduct audits, and handle related expenses. The bill updates definitions and procedures for insurer oversight, including rules about record confidentiality and the Commissioner's powers during financial distress. It directly affects the Insurance Department's operations and insurers under supervision or conservatorship. The changes aim to streamline administrative processes for handling troubled insurance companies.
Bill status signed all 5 stages cleared
Introduction
Feb 2026
Committee Review
May 2026
Senate Passage
Mar 2026
House Passage
May 2026
Signed into Law
May 2026
Introduced Feb 2, 2026 Signed May 12, 2026
Maddy AI version diff · 4 comparisons

What changed between versions

Floor (House) Floor (Senate) · 4 edits
MODERATE
The bill was converted from the House version to the Senate version, which includes significant substantive additions regarding the creation of a new division within the Insurance Department to handle supervision, conservatorships, and receiverships. The Senate version also updates legal definitions to include specific scenarios for when an insurer is considered to have 'exceeded its powers' or is 'insolvent,' and it adds new provisions for immunity, indemnification, and protections for contracted persons.
Scope change
The bill's scope expanded to explicitly establish a new division within the Insurance Department responsible for administering supervision, conservatorships, and receiverships, with a mandate to convert existing cases to this division by January 1, 2028.
REQUIREMENT

Created a new division within the Insurance Department to handle supervision, conservatorships, and receiverships, requiring the conversion of existing cases by January 1, 2028.

DEFINITION

Expanded the definition of 'exceeded its powers' to include removing necessary books and records from the state, and added 'insolvent' to include situations where an insurer continues writing new business without required surplus or capital.

ENFORCEMENT

Added new provisions establishing immunity and indemnification for certain officials and protections for contracted persons involved in insurance supervision.

TECHNICAL

Removed the House-specific header and formatting while retaining the core legislative text.

Floor votes · Senate Mar 26, 2026 · House May 6, 2026

How they voted

347
Passed · 9 other
Total votes 50
Mar 26, 2026
D Democratic9
9 Yea
100% Yea
R Republican41
25 Yea 7 Nay 9
60% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
25
Key actions
8
Committee
6
May 12, 2026
Signed into law
Approved by Governor 05/11/2026
upper
May 6, 2026
Committee
Referred for enrollment
upper
May 6, 2026
Lower · Passed
Third Reading, Measure passed: Ayes: 52 Nays: 33
lower
May 6, 2026
Lower · Passed
Motion to reconsider adopted: Ayes: 57 Nays: 23
lower
Apr 14, 2026
Lower · Passed
CR; Do Pass Government Oversight Committee
lower
Apr 7, 2026
Lower · Passed
Policy recommendation to the Government Oversight committee; Do Pass General Government
lower
Mar 31, 2026
Committee
Referred to General Government
lower
Mar 30, 2026
Introduced
First Reading
lower
Mar 30, 2026
Upper · Passed
Engrossed to House
upper
Mar 26, 2026
Committee
Referred for engrossment
upper
Mar 26, 2026
Upper · Passed
Measure passed: Ayes: 33 Nays: 7
upper
Feb 19, 2026
Upper · Passed
Reported Do Pass Business and Insurance committee; CR filed
upper
Feb 2, 2026
Introduced
First Reading
upper
2 primary · 0 co-sponsors

Sponsors