The bill amends Oklahoma statutes to regulate used powersports vehicle dealers alongside existing used motor vehicle dealers. It introduces definitions for "used powersports vehicle" and "used powersports vehicle dealer," covering vehicles such as motorcycles, scooters, and all-terrain vehicles. The legislation requires these dealers to obtain a specific license, pay associated fees, secure a bond, and acquire liability insurance. It also establishes conditions for the revocation of licenses and modifies the composition of the Oklahoma Used Motor Vehicle, Dismantler, and Manufactured Housing Commission to include representatives from the used powersports vehicle industry, ensuring that commission members have relevant experience in the sale or distribution of these vehicles.

Additionally, the bill outlines the licensing and bonding requirements for both used motor vehicle and used powersports vehicle dealers, mandating a $25,000 bond for dealer licenses and a $50,000 bond for auctioneers. It expands the grounds for denial, suspension, or revocation of licenses to include violations specific to used powersports vehicle dealers and emphasizes the need for proper insurance coverage. The bill also details the financial operations of the Commission, including the creation of a special fund for collected fees and penalties for unlicensed operations. Overall, the legislation aims to enhance regulatory oversight, consumer protection, and compliance within the automotive and manufactured housing industries in Oklahoma, with an effective date set for November 1, 2025.

Statutes affected:
Introduced: 47-581, 47-582, 47-583, 47-584