Bill No. 378 amends Section 1306.1 of Title 59 of the Oklahoma Statutes, which governs the licensing and operational requirements for multicounty agent bondsmen. The bill introduces several key changes, including allowing the Insurance Commissioner to approve bondsmen to write bonds exceeding twelve times their deposit amount, up to a maximum of fifteen times. It also establishes that any bondsman who increases their writing capacity will not have a portion of their deposit released for at least two years, and if they have any administrative actions within that period, their writing capacity may be reduced back to the original limit. Additionally, the bill updates statutory language and references, ensuring clarity and compliance with current standards.

Furthermore, the bill stipulates that deposits made by multicounty agent bondsmen will only be released under specific conditions, such as the extinguishment of all liability on outstanding bonds or upon written application and order from the Commissioner. The bill also allows for the transfer of a bondsman's license upon their death or incapacitation to a designated individual, provided they meet certain licensing and asset requirements. The effective date for these changes is set for November 1, 2026.