§ 47-591.11 — Salvage pool or salvage disposal sales - Sales to

Oklahoma § 47-591.11

• Jurisdiction: Oklahoma
• Title 47: Motor Vehicles

Text

unqualified buyers prohibited - Insurance company sales – Payment – Register - Consignment auction. A. Sales at a salvage pool or salvage disposal sale may be opened only to: 1. A person who is a resident of this state; 2. A company representative of a business that is based in this state; or 3. A person who may legally purchase salvage vehicles in his or her home state or country. B. It shall be the duty of the owner, manager or person in charge of any salvage pool or salvage disposal sale to prohibit the bidding by any person who is not qualified to purchase salvage vehicles as provided in subsection A of this section and, further, to refuse to sell to any person any wrecked or repairable motor vehicle if such person is not qualified to purchase salvage vehicles as provided in subsection A of this section. C. Any salvage pool or salvage disposal sale that is facilitating in the sale of a motor vehicle for an insurance company must provide on its website the full seventeen-digit vehicle identification number (VIN) and the name of the insurance company that is selling the motor vehicle. D. The salvage pool or salvage disposal sale shall show the buyer's identification number of the winning bidder on any sale that takes place on the Internet or by online bidding for all salvage motor vehicles being sold for an insurance company. E. It shall be the duty of the owner, manager or person in charge of any salvage pool or salvage disposal sale to remit payments to the Oklahoma Used Motor Vehicle, Dismantler, and Manufactured Housing Commission. Such payments shall be calculated by multiplying the total number of salvage vehicle sales transactions during a certain period times Two Dollars ($2.00). The first payment shall not be calculated on any sales transactions prior to November 1, 2007. The payments shall not be made more often than one payment each month. The payments shall be transmitted to the Oklahoma Used Motor Vehicle, Dismantler, and Manufactured Housing Commission at any time during the thirty (30) days immediately following the period for which the payment was calculated. F. Every salvage pool shall keep a register of all sales of salvage vehicles showing the make, model, year, style, vehicle identification number, and names and addresses of the purchaser and seller of the motor vehicle. Such registers shall be submitted to the Oklahoma Used Motor Vehicle, Dismantler, and Manufactured Housing Commission on a regular basis. G. The provisions of this section shall not apply to a regularly scheduled vehicle consignment auction conducted by a used motor vehicle dealer which sells salvage vehicles, damaged vehicles, wrecked vehicles or repairable vehicles for someone other than a public insurance company. Such auction may sell these vehicles as an incident to the sale of operable vehicles, but shall not constitute a primary part of the business.

Legislative History

Added by Laws 1980, c. 273, § 11, eff. Jan. 1, 1981. Amended by Laws 1992, c. 242, § 3, eff. July 1, 1992; Laws 1996, c. 332, § 6, eff. Nov. 1, 1996; Laws 2004, c. 519, § 29, eff. Nov. 1, 2004; Laws 2006, c. 107, § 1, eff. Nov. 1, 2006; Laws 2006, c. 213, § 7, eff. Nov. 1, 2006; Laws 2007, c. 56, § 1, eff. Nov. 1, 2007; Laws 2008, c. 333, § 1, eff. Nov. 1, 2008; Laws 2015, c. 386, § 6, eff. Nov. 1, 2015; Laws 2022, c. 107, § 12, eff. Nov. 1, 2022.