House Bill No. 1562 aims to amend the jurisdictional provisions of business courts in Oklahoma. The bill establishes that for cases seeking damages, the amount in controversy must be at least $500,000. It allows business courts to hear a variety of business-related disputes, including those arising under various Oklahoma statutes such as the Uniform Commercial Code and the Oklahoma General Corporation Act. Additionally, the bill defines "complex cases" and outlines the criteria for determining whether a case qualifies as complex, which includes factors like the number of parties involved and the complexity of legal issues.

The bill also specifies the limitations of business court jurisdiction, explicitly excluding certain claims such as those under the Oklahoma Consumer Protection Act, personal injury claims, and residential landlord-tenant disputes. Notably, it introduces new provisions regarding matters involving royalty or mineral owners, stating that such cases can only be heard if all parties consent to jurisdiction or if the case is a class action. An emergency clause is included, allowing the act 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