SB 462 – Oklahoma

Status: Enacted
Year Introduced: 2021
Link: http://www.oklegislature.gov/BillInfo.aspx?Bill=sb462&Session=2100

An Act relating to insurance; creating the Oklahoma Right to Shop Act; defining terms; authorizing insurance carriers to create certain program; establishing requirements of program; providing for calculation and method of distribution of incentives; requiring insurer to provide certain notification and filings; requiring insurer to publish certain information on website; providing methodology for calculating minimum required savings incentive; requiring insurer to make certain payments; requiring certain report within specified time period; stating contents of report; specifying participation in program is optional; directing the Insurance Department to promulgate rules; requiring Office of Management and Enterprise Services to conduct analysis; requiring certain program be implemented; requiring Office to provide certain report to Legislature; providing for codification; and providing an effective date.

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