Oklahoma legislation · 2026 Regular Session
Oklahoma HR1047: Resolution; CompSource Mutual Insurance Company; State Insurance Fund; trust; public interest.
Status: Passed both chambers, April 8, 2026
What the bill says
A Resolution emphasizing the State's interest in CompSource Mutual Insurance Company; recognizing the existence of CompSource Mutual Insurance Company as an entity ensuring compensation under current workers' compensation law; emphasizing that all monies and assets of CompSource Mutual Insurance Company are held in trust; and emphasizing the public's interest in CompSource Mutual Insurance Company.
From the enrolled text, April 7, 2026:
A Resolution emphasizing the State's interest in CompSource Mutual Insurance Company; recognizing the existence of CompSource Mutual Insurance Company as an entity ensuring compensation under current workers' compensation law; emphasizing that all monies and assets of CompSource Mutual Insurance Company are held in trust; and emphasizing the public's interest in CompSource Mutual Insurance Company. WHEREAS, CompSource Oklahoma was allowed by the Legislature to become a mutual insurance company, CompSource Mutual Insurance Company, effective January 1, 2015, for the purpose of insuring employers against liability for compensation under the Administrative Workers' Compensation Act, the Oklahoma Workers' Compensation Code, and previous workers' compensation laws; and WHEREAS, because the State Insurance Fund, the predecessor of CompSource Mutual Insurance Company, was created with taxpayer funds, the State of Oklahoma continues to have an important and vital interest in the operation of the company; and WHEREAS, CompSource Mutual Insurance Company exists for the purpose of assuring compensation for the persons entitled thereto provided by the workers' compensation law, and for the further purpose of insuring persons, firms, and corporations against loss, expense, or liability by reason of bodily injury, death by accident, occupational disability, or occupational disease suffered by employees, for which the insured may be liable or have assumed liability; and WHEREAS, CompSource Mutual Insurance Company may further provide insurance for employers against liability …
Sponsors
- Chris Sneed (R, HD-014) · primary sponsor
Latest actions
- : Enrolled, signed, filed with Secretary of State
- : Adopted, referred for enrollment
- : Amended
- : Considered
- : Authored by Representative Sneed
- : Introduced
Common questions
- What is HR1047?
- HR1047 is a bill in the Oklahoma Legislature (2026 Regular Session): Resolution; CompSource Mutual Insurance Company; State Insurance Fund; trust; public interest.
- What does HR1047 do?
- In its own words: A Resolution emphasizing the State's interest in CompSource Mutual Insurance Company; recognizing the existence of CompSource Mutual Insurance Company as an entity ensuring compensation under current workers' compensation law; emphasizing that all monies and assets of CompSource Mutual Insurance Company are held in trust; and emphasizing the public's interest in CompSource Mutual Insurance Company.
- What is the status of HR1047?
- Passed both chambers as of April 8, 2026. Latest action: Enrolled, signed, filed with Secretary of State (April 8, 2026).
- Who sponsored HR1047?
- Chris Sneed (R, HD-014).
- Where is the official record for HR1047?
- On the Oklahoma Legislature website: https://www.oklegislature.gov/BillInfo.aspx?Bill=HR1047&Session=2600
Source: official Oklahoma record. Tracked by Delilah, AI for legislation across all 50 states and Congress.