Kurt, most OEM electrics have a safety interlock that allows the in-tank pump to energize during crank (not just key ON) to fill the carb, and then flip to being energized by oil pressure > 2 to 4 psig which also then shuts down pump power when the engine stops. It's a single pole, double throw oil pressure switch, and it will likely also drive the oil pressure idiot light. Summit's generic electric pump instructions includes a good description of the safety interlock. Are you sure you don't just have a bad oil pressure switch, or bad 50 year old wiring? Just a thought.