OklahomaOklahoma requires licensed sellers for long-term care insurance starting November 2026
Starting November 1, 2026, Oklahoma requires people selling long-term care insurance or seeking customers for it to hold a license covering health-related or life insurance.
What it does
Starting November 1, 2026, people selling long-term care insurance, seeking customers, or negotiating sales must hold an insurance seller's license for health-related coverage or life insurance.
Starting November 1, 2026, previous Insurance Commissioners' published guidance expires 90 calendar days after the next commissioner takes office, unless that commissioner orders it to continue.
Starting November 1, 2026, individual buyers seeking control of an Oklahoma-based insurer must provide five fiscal years of accountant-reviewed personal financial statements, unless the commissioner exempts the transaction.
From November 1, 2026, the Strengthen Oklahoma Homes Program has no scheduled end date. Storm-resistant construction and improvements still depend on funding, and owners are not guaranteed help.
On November 1, 2026, the law directs repeal of the section concerning the state innovation waiver. The source does not show which waiver rules this removes.
Argument forThe license requirement could help long-term care insurance buyers avoid sellers who lack permission to sell health or life coverage.
Argument againstExpiring guidance could leave insurers unsure which instructions to follow if the incoming commissioner does not act to keep it.
More detail
People must hold an insurance seller's license to sell long-term care insurance, seek customers for it, or negotiate its sale. The requirement covers people selling long-term care insurance in Oklahoma. The license must cover accident and health or sickness insurance, or life insurance. The licensing provision takes effect November 1, 2026.
Previous Insurance Commissioners' bulletins expire unless the incoming commissioner issues an order keeping them in force. Bulletins are published guidance from Oklahoma's Insurance Commissioner. The commissioner may issue, revise, or end a bulletin at any time. The 90-calendar-day period runs from the next Insurance Commissioner's inauguration.
Individuals seeking control of an Oklahoma-based insurer must provide personal financial statements reviewed by an independent public accountant. The requirement covers individual buyers filing for a merger or takeover of an Oklahoma-based insurer. The filing must also include unaudited financial information dated no earlier than 90 days before filing. The commissioner may exempt transactions by order if they do not aim to change or influence control and have no such effect, or fall outside this section's purposes. The financial filing provision takes effect November 1, 2026.
The law provides for the Strengthen Oklahoma Homes Program without a scheduled end date. The Oklahoma Department of Insurance runs the program to help insurable properties resist tornadoes, severe windstorms, and hail. The program's operation depends on receiving federal grants or money from other funding sources. Property owners have no guaranteed right to assistance, and the state is not required to pay for their projects. This program provision takes effect November 1, 2026.
The law directs that Section 1416 of Oklahoma's insurance laws be repealed. Section 1416 concerns the state innovation waiver, a process for seeking permission to depart from certain health insurance rules. The repeal instruction takes effect November 1, 2026.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- May 11Approved by Governor Kevin Stitt 05/11/2026Became Law
- May 5Sent to GovernorTo Governor
- May 5Enrolled measure signed, returned to House
- May 5Enrolled, signed, to Senate
- May 4Referred for enrollment
- Vote recorded Third Reading. Result: pass.Upper
- May 4Engrossed measure signed, returned to HouseMajor
- May 4Measure passed: Ayes: 41 Nays: 3Major
- May 4General Order, Considered
- Apr 28Placed on General Order
- Apr 23Reported Do Pass Business and Insurance committee; CR filedMinor
- Vote recorded Do Pass. Result: pass.Upper
- Apr 14Coauthored by Senator Murdock
- Apr 14Remove as author Senator Murdock; authored by Senator Coleman
- Apr 14Remove as coauthor Senator Coleman
- Apr 8Coauthored by Senator Coleman
- Apr 8Remove as author Senator Coleman; authored by Senator Murdock
- Apr 1Second Reading referred to Business and InsuranceMinor
- Mar 30First ReadingMinor
- Mar 30Engrossed, signed, to SenatePassed Senate
- Mar 25Referred for engrossment
- Vote recorded Third Reading. Result: pass.Lower
- Mar 25Third Reading, Measure passed: Ayes: 88 Nays: 3Passed House
- Mar 25General Order
- Feb 26Authored by Senator Coleman (principal Senate author)
- Vote recorded Commerce And Economic Development Oversight Committee: Do Pass As Amended By Cs. Result: pass.Lower
- Feb 26CR; Do Pass, amended by committee substitute Commerce and Economic Development Oversight CommitteeMinor
- Feb 11Policy recommendation to the Commerce and Economic Development Oversight committee; Do Pass, amended by committee substitute InsuranceMinor
- Feb 10
- Vote recorded Insurance Committee: Do Pass As Amended By Cs. Result: pass.Lower
- Feb 9Referred to InsuranceMinor
- Feb 9Referred to Commerce and Economic Development OversightMinor
- Feb 9Withdrawn from Rules Committee
- Feb 3Second Reading referred to RulesMinor
- Feb 2Authored by Representative Sneed
- Feb 2First ReadingIntroduced
Consumer ProtectionHousingHealthcare