House Bill No. 1501 introduces a new provision in the Oklahoma Statutes that establishes a cap on the commissions 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 governed 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 aims to regulate the compensation structure for public insurance adjusters, ensuring that their fees remain within a reasonable limit in relation to the settlements they negotiate.