House Bill No. 1562 aims to amend the existing provisions regarding the jurisdiction of business courts in Oklahoma. The bill establishes that business courts will have jurisdiction over cases with an amount in controversy of at least $500,000, and it outlines specific types of cases that can be assigned to the business court docket, including those related to arbitration, commercial transactions, and various business-related disputes. Notably, the bill allows business courts to hear cases seeking equitable relief regardless of the amount in controversy, and it defines "complex cases" that require exceptional judicial management.

Additionally, the bill specifies exclusions from the business court's jurisdiction, including claims under the Oklahoma Consumer Protection Act, personal injury cases, and individual consumer claims, among others. A significant change is the inclusion of a provision that allows business courts to handle matters involving royalty or mineral owners, provided all parties consent to jurisdiction or the case is a class action. The bill also declares an emergency, allowing it to take effect immediately upon passage and approval.

Statutes affected:
Introduced: 20-125
House Committee Substitute: 20-125
Floor (House): 20-125
Floor (Senate): 20-125
Engrossed: 20-125
Amended And Engrossed: 20-125