This bill amends Section 1111 of Title 47 of the Oklahoma Statutes, which pertains to salvaged titles for motor vehicles. Key provisions include the requirement for insurance companies, junk dealers, and others involved in the dismantling or junking of vehicles to submit a list of total loss damages along with the certificate of title and license plate to Service Oklahoma within 30 days. Additionally, the bill mandates that any holder of a vehicle's certificate of title must return it along with a list of damages if the repair costs exceed 60% of the vehicle's fair market value. Service Oklahoma is also tasked with maintaining records of these damages for at least five years.

Furthermore, the bill introduces new requirements for obtaining a rebuilt title, including the submission of an affidavit confirming that all repairs have been completed, along with corresponding receipts. Service Oklahoma is authorized to create rules for training employees and licensed operators to ensure accurate documentation and inspections. The bill also outlines penalties for violations, including fines and potential jail time, and specifies that the effective date for these changes will be November 1, 2025.

Statutes affected:
Introduced: 47-1111