Bill No. 1501 aims to regulate the commissions payable to public insurance adjusters in Oklahoma. It introduces a new section to the Oklahoma Statutes, specifically Section 6224 of Title 36, which stipulates that the total commission, including any expenses or costs incurred by the adjuster, cannot exceed ten percent (10%) of the insurance settlement amount when dealing with entities covered by The Governmental Tort Claims Act.

The bill is set to take effect on November 1, 2025, following its passage in the House of Representatives on March 24, 2025. This legislation seeks to provide clarity and limitations on the compensation structure for public insurance adjusters, ensuring that their fees remain reasonable in relation to the settlements they negotiate.