This bill establishes a new section in the Oklahoma Statutes regarding firearm hold agreements between licensed dealers and firearm owners. It defines key terms, including "firearm hold agreement" and "licensed dealer," and authorizes licensed dealers to enter into agreements to hold or store firearms for owners. The bill also provides immunity from civil liability for licensed dealers who take possession of firearms under these agreements, protecting them from legal claims related to the storage or return of the firearm, except in cases of gross negligence, reckless conduct, or if the dealer is aware that the owner poses a risk of unlawful use or harm.

Additionally, the bill outlines specific circumstances under which a licensed dealer would not be granted immunity, such as if the dealer knew the firearm owner was prohibited from possessing a firearm or was demonstrating dangerous behavior. The act is set to take effect on November 1, 2026.