The bill establishes the "Oklahoma Uniform Receivership Act of 2026," which is a new legal framework for receivership in the state of Oklahoma. This act is designed to provide a standardized approach to the management and oversight of receiverships, although the specific provisions and guidelines are not detailed in the text provided.

Additionally, the bill specifies that it will not be codified into the Oklahoma Statutes, meaning it will exist as a standalone piece of legislation rather than being integrated into existing law. The act is set to take effect on November 1, 2026.