The bill establishes the "Insurance Act of 2025," which is a new piece of legislation aimed at regulating insurance practices in the state of Oklahoma. It includes a provision for noncodification, meaning that the new law will not be added to the existing Oklahoma Statutes.

Additionally, the bill specifies that it will take effect on November 1, 2025. This timeline allows for any necessary preparations or adjustments to be made in anticipation of the new regulations coming into force.