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 the necessary preparations and adjustments to be made by relevant stakeholders in the insurance industry before the law is implemented.