Oklahoma Vehicle License and Registration Act; modifying provisions related to transfer of title. Effective date.

SB 565 amends Oklahoma's vehicle title transfer rules to clarify how security interests (like car loans) are recorded. It requires lienholders to submit lien forms and a $10 fee within 25 days of a security agreement, with perfection starting from the agreement date if filed on time. The bill directly affects lenders, vehicle buyers, and motor license agents by standardizing title processing and blocking title transfers until liens are satisfied - except in specific cases like loan co-borrowers or business transfers. These changes aim to streamline title verification and reduce disputes over vehicle ownership.