House Bill No. 1501 establishes a new legal provision in the Oklahoma Statutes that limits the total commission payable to public insurance adjusters. Specifically, the bill stipulates that the total commission, which includes all expenses and costs incurred by the adjuster, cannot exceed ten percent (10%) of the insurance settlement amount when dealing with entities covered under 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 aims to regulate the compensation structure for public insurance adjusters, ensuring that their commissions remain within a defined limit to protect the interests of policyholders.