SB 2019 — Insurance guaranty fund; creating the Political Subdivision Liability Insurance Guaranty Program; creating board. Effective date.

STATESENATE OFFLOOR OKLAHOMAVERSION 2February 2nd17, Session2026 ofAS theAMENDED 60th Legislature (2026) 3 SENATE BILL 2019NO. By:

Logan2019 4By: 5 AS INTRODUCED 7 An Act relating to insurance guaranty fund;

creatingLogan the5 Political[ Subdivisioninsurance Liabilityguaranty Insurancefund - Program - Board - Guaranty Program;Fund - expenditures - interest - codification - effective date ] 9 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:

providing purpose;

creating the Political Subdivision Insurance Fund Board to administer program;

prescribing membership, terms, and appointment procedures;

prescribing duties and powers;

creating the Political Subdivision Liability Insurance Guaranty Fund;

providing purpose;

providing for expenditures from fund;

requiring interest earned to be retained in the fund;

providing for codification;

and providing an effective date.

BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:

Req.1.

No.The Governor shall appoint three members, one of whom shall be a member of a governing body of a political subdivision;

33522. Page 1 1.

The GovernorPresident Pro Tempore of the Senate shall appoint threetwo members, one of whom shall 2 be a member of a governing body of a political subdivision;

3and 2.SENATE FLOOR VERSION - SB2019 SFLR Page 1 (Bold face denotes Committee Amendments) 3.

The PresidentSpeaker Pro Tempore of the SenateHouse of Representatives shall appoint two members, one of whom shall be a member of a governing body of a 5 political subdivision;subdivision.

andC. 6 3.

The Speaker of the House of Representatives shall appoint 7 two members, one of whom shall be a member of a governing body of a political subdivision.

9 C.

Req.D.

No.Meetings of the Board shall be held at least quarterly, with the first meeting to be held no later than March 31, 2027.

3352The Pagechair 2and D.vice chair of the Board shall be elected by the Board from among its members in the first meeting.

MeetingsThe presence of thea Boardmajority shallof be held at least quarterly, with 2 the firstmembers meetingconstitutes toa bequorum. held no later than March 31, 2027.

TheNo 3action chairshall andbe vicetaken chairby ofSENATE theFLOOR BoardVERSION shall- beSB2019 electedSFLR byPage 2 (Bold face denotes Committee Amendments) the Board fromwithout amongthe itsaffirmative membersvote inof theat firstleast meeting.a majority of the members.

The presence of a majority 5 of the members constitutes a quorum.

No action shall be taken by 6 the Board without the affirmative vote of at least a majority of the 7 members.

The Board shall be required to create the rules and 9 guidelines for the voluntary Political Subdivision Liability Insurance Guaranty Program, including required contributions, qualifying claims, and procedures, as well as any other requirements to effectuate the provisions of this act.

Monies in the fund, including interest, are not subject to appropriation and shall be expended to insure political subdivisions Req.pursuant to the Political Subdivision Liability Insurance Guaranty Program, operating costs of the Board, attorney fees, and other costs reasonably incurred by the Board in the performance of its duties.

No.SENATE FLOOR VERSION - SB2019 SFLR Page 3 (Bold face denotes Committee Amendments) B.

3352Expenditures Pagefrom 3 pursuant to the Politicalfund Subdivisionshall Liabilitybe Insurancemade Guarantyon 2warrants Program,issued operatingby costs of the Board,State attorneyTreasurer fees,against andclaims otheras 3prescribed costs reasonably incurred by thelaw. Board in the performance of its duties.

5The B.fund shall be subject to audit in the same manner as state funds and accounts, the cost for which shall be paid for from the fund.

ExpendituresSECTION from3. the fund shall be made on warrants issued 6 by the State Treasurer against claims as prescribed by law.

The 7 fund shall be subject to audit in the same manner as state funds and accounts, the cost for which shall be paid for from the fund.

9 SECTION 3.

60-2-3352COMMITTEE QDREPORT 1/15/2026BY: 10:05:50 AM Req.

No.COMMITTEE ON LOCAL AND COUNTY GOVERNMENT February 17, 2026 - DO PASS AS AMENDED 8 SENATE FLOOR VERSION - SB2019 SFLR Page 4 (Bold face denotes Committee Amendments)