SB 527: Certificates of title; modifying certain time limit that pertains to perfection of security interest. Effective date. Emergency. - Oklahoma

Floor (House) → Floor (Senate) · 4 edits

MODERATE

This bill updates Oklahoma's vehicle title perfection rules by extending the deadline for lien filing from 45 to 60 days and clarifying how security interests are recorded. The Senate version also adds a repeal of an earlier conflicting statute and adjusts fee descriptions.

Scope change

The bill's scope remains focused on vehicle title perfection, but applicability is clarified by explicitly repealing a prior conflicting section and refining the relationship between title-based and filing-based security interests.

TIMELINE

Extended the deadline for lien filing from 45 days to 60 days after the lien entry form date.

REQUIREMENT

Added a repeal of 47 O.S. 2021, Section 1110, as last amended by Section 1, Chapter 323, O.S.L. 2024, to resolve statutory conflicts.

TECHNICAL

Adjusted fee language to clarify that the $10 fee applies to security interests recorded on certificates of title or manufacturer's certificates of origin.

DEFINITION

Reorganized and clarified the relationship between title-based perfection and filing-based perfection under Title 12A of the Oklahoma Statutes.

Committee Substitute → Floor (House) · 3 edits

MINOR

The bill was amended to reflect its progression from committee to the House floor, with substantive changes to the timeline for perfecting security interests on vehicle titles. The most significant policy change reduces the deadline for filing lien entry forms from 60 days to 45 days, which affects when lenders must perfect their security interests on vehicles.

Scope change

The bill's scope remains focused on amending 47 O.S. 2021, Section 1110 regarding perfection of security interests in vehicles, but the timeline for compliance has been shortened.

TIMELINE

The deadline for a secured party to deliver lien entry forms and fees to Service Oklahoma or a licensed operator was reduced from 60 days to 45 days after the lien entry form date.

The start date for calculating perfection of security interest was changed from the date of delivery to Service Oklahoma to the date of execution of the lien entry form.

TECHNICAL

Header and formatting changes reflect the document's transition from Committee Substitute to House Floor version, including updated session information and bill status labels.

House Committee Substitute for Senate Bill → Committee Substitute · 3 edits

MINOR

This bill amends Oklahoma's vehicle title law to update references to repealed legislation, change the deadline for perfecting security interests from 45 to 60 days, and revise the emergency declaration to reflect the repeal of a prior version of the statute. These changes ensure statutory consistency and provide more time for lenders to file lien entries.

Scope change

The bill's scope remains focused on vehicle title perfection and security interests, but the effective date reference was updated to reflect the repeal of a previous version of the statute.

TIMELINE

Extended the deadline for perfecting a security interest from 45 days to 60 days after delivery of the lien entry form and required documents.

TECHNICAL

Updated references to repealed legislation in the emergency declaration and act description to reflect the repeal of Section 1, Chapter 323, O.S.L. 2024 instead of Section 70, Chapter 452, O.S.L. 2024.

Changed the document title from 'House Committee Substitute for Senate Bill' to 'Committee Substitute' and adjusted formatting of bill identification.

Enrolled (final version) → House Committee Substitute for Senate Bill · 4 edits

MODERATE

This bill amends Oklahoma's vehicle title law to update how security interests (liens) are perfected and recorded. The changes include formatting updates to the bill structure, clarifying time limits for lien filing, and maintaining the $10 fee structure with $2 retained by licensed operators. The substantive policy content regarding lien perfection requirements remains largely unchanged from the enrolled version.

Scope change

No substantive change to the scope or applicability of the law; this is primarily a House Committee substitute version with formatting and minor text adjustments.

TECHNICAL

Bill header and formatting were updated to reflect House Committee Substitute status instead of Enrolled Senate version

Line breaks and paragraph spacing were adjusted throughout the statutory text for readability

Page numbers and request numbers were added to the House Committee version for tracking purposes

REQUIREMENT

Time limit language for lien filing was slightly reworded from 'twenty-five (25) days' to 'twenty-five (25) forty-five (45) days' which appears to be a formatting inconsistency rather than a substantive change

Engrossed → Enrolled (final version) · 5 edits · May 21, 2025

MODERATE

This bill updates Oklahoma's vehicle title perfection laws by changing the deadline for recording security interests from 60 days to 45 days, clarifying fee structures, and adding new requirements for lienholders to obtain new certificates of title when creating security interests in previously registered vehicles. The changes streamline the lien recording process and ensure clearer documentation of security interests on vehicle titles.

Scope change

The bill maintains the same scope of applying to vehicles where certificates of title may be issued by Service Oklahoma, but modifies specific procedural requirements for lien recording and fee collection.

TIMELINE

Changed the deadline for secured parties to deliver lien entry forms and fees from 60 days to 45 days after creating a security interest.

REQUIREMENT

Added requirement that secured parties must obtain a new certificate of title showing the secured interest when creating security interests in previously registered vehicles.

Updated the fee structure to clarify that licensed operators retain $2 of the $10 lien recording fee for recording the security interest lien.

ENFORCEMENT

Added prohibition preventing licensed operators from transferring vehicle titles with active commercial lender liens until the lien is satisfied, with specific exceptions.

TECHNICAL

Changed bill status from 'Engrossed' to 'Enrolled' indicating final legislative approval, and updated sponsor information from Bashore to Harris.

Amended And Engrossed → Engrossed · 5 edits · May 21, 2025

MODERATE

This bill amends Oklahoma's vehicle title and security interest laws to clarify when liens must be filed, update fee structures, and add requirements for recording security interests on certificates of title. The changes primarily affect dealers, licensed operators, and secured parties by establishing clearer timelines for perfecting liens and specifying how fees are collected and retained.

Scope change

The scope remains focused on vehicle title perfection and security interests, but clarifies applicability to vehicles registered in other states and expands certain definitions regarding vehicle types excluded from security interest filing requirements.

TIMELINE

Extended the deadline for perfecting security interests from 25 days to 60 days after lien entry form execution or delivery to Service Oklahoma.

FISCAL

Established a $10 fee for recording security interests on certificates of title, with licensed operators retaining $2 for recording costs.

REQUIREMENT

Added requirement that secured parties surrender certificates of title to them when creating security interests in previously registered vehicles.

DEFINITION

Clarified definitions of 'dealer' and 'security interest' by referencing existing statutory provisions in Title 12A.

ENFORCEMENT

Added provisions making it unlawful for persons to act as messengers or agents for recording security interests without proper appointment by Service Oklahoma.

Introduced → Amended And Engrossed · 3 edits · May 21, 2025

MINOR

The bill was amended to change the deadline for perfecting security interests on vehicle titles from 60 days to 45 days, update the bill's title to reflect additional changes including mailing provisions and repealing prior amendments, and replace the House author from Representative Bashore to Representative Harris.

Scope change

The bill's scope remains focused on vehicle title perfection procedures, but the timeline for compliance was shortened and the legislative history was updated to reflect additional amendments.

TIMELINE

The deadline for secured parties to deliver lien entry forms and fees to Service Oklahoma was reduced from 60 days to 45 days.

SCOPE

The bill's title was updated to include new provisions related to mailing certain releases and repealing a previous amendment to Section 1110.

TECHNICAL

The House author was changed from Representative Bashore to Representative Harris, and the bill was renumbered to reflect House amendments.

Certificates of title; modifying certain time limit that pertains to perfection of security interest. Effective date. Emergency.

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