Senate Bill No. 638 amends the Unfair Sales Act by updating definitions and statutory language in 15 O.S. 2021, Section 598.2. The bill modifies the definitions of "cost" for both retailers and wholesalers, clarifying that it refers to the lower of the invoice or replacement cost, with specific deductions for trade discounts and additions for freight charges, cartage, and taxes. It also introduces new definitions for "replacement costs," "retailer," "sell at retail," "sell at wholesale," and "wholesaler," while removing outdated language.

The bill aims to streamline the language and improve clarity regarding the terms used in the Unfair Sales Act, ensuring that they accurately reflect current business practices. The changes will take effect on November 1, 2025, allowing businesses time to adjust to the new definitions and requirements.