The bill amends various sections of Oklahoma's motor vehicle laws, focusing on the definitions and licensing requirements for new motor vehicle and powersports vehicle dealers. It updates existing definitions, such as changing "Motor vehicle salesperson" to "Salesperson," and introduces new terms related to dealer licensing and operations. The bill also expands the list of entities requiring licensure, removes certain exceptions, and establishes new data security standards for dealer management system providers. Additionally, it clarifies the grounds for denying, revoking, or suspending a dealer's license and removes previous mandates for dealer compliance.

Moreover, the bill addresses the termination, cancellation, or nonrenewal of franchise agreements, requiring manufacturers to provide written notice and demonstrate good cause for such actions. It establishes a process for dealers to protest terminations and outlines compensation for unsold inventory if a factory prevails in a termination action. The bill also prohibits manufacturers from coercing dealers into purchasing specific goods or services and ensures that dealers can choose their vendors. Overall, the legislation aims to enhance regulatory clarity, protect dealer interests, and promote fair competition within the motor vehicle industry.

Statutes affected:
Amended And Engrossed: 47-562, 47-565.2, 47-564, 47-565