House Bill No. 1501 establishes a new legal provision regarding the compensation of public insurance adjusters in Oklahoma. Specifically, it sets a limitation on the total commission that can be paid to these adjusters, stating that the commission, which includes all expenses and costs incurred, cannot exceed ten percent (10%) of the insurance settlement amount for cases involving entities covered by The Governmental Tort Claims Act.

The bill will be codified as Section 6224 of Title 36 in the Oklahoma Statutes and is set to take effect on November 1, 2025. This legislative change aims to regulate the financial practices of public insurance adjusters, ensuring that their compensation remains within a defined limit.