Senate Bill No. 529 amends the Oklahoma statutes to expand the regulatory authority of the Oklahoma Used Motor Vehicle, Dismantler, and Manufactured Housing Commission to include used powersports vehicle dealers. The bill introduces new definitions for "used powersports vehicle" and "used powersports vehicle dealer," establishing licensing requirements, including the necessity for a specific license, a $25,000 bond, and liability insurance. It also clarifies that used powersports vehicles encompass motorcycles, scooters, mopeds, all-terrain vehicles, and utility vehicles that require registration under the Oklahoma Vehicle License and Registration Act. The bill ensures representation from both the used motor vehicle and used powersports vehicle industries on the Commission.

Additionally, the bill modifies existing regulations regarding the licensing and bonding requirements for used motor vehicle and manufactured home dealers, aligning the requirements for used powersports vehicle dealers with those of used motor vehicle dealers. It specifies that dealers conducting auctions or non-auction consignment sales with projected gross annual sales of $500,000 or more must secure a $50,000 bond. The bill expands the grounds for denying or revoking licenses to include violations related to used powersports vehicle dealers and grants the Commission authority to impose fines and revoke licenses for non-compliance. The bill is set to take effect on November 1, 2025.

Statutes affected:
Introduced: 47-581, 47-582, 47-583, 47-584
Floor (Senate): 47-581, 47-582, 47-583, 47-584