OK SB1536

Adds new license type "Resident Broker" for individuals who reside in Oklahoma and buy/sell used motor vehicles within the state for out-of-state dealers or maintain an out-of-state dealer license.

Increases bond requirements for used motor vehicle auction dealers from $50,000 to $100,000, and requires resident brokers to post a $25,000 bond.

Establishes new definitions for resident brokers and modifies existing definitions in Section 581 relating to used motor vehicle and parts dealers.

Modifies licensing fee structures, including initial and renewal fees for resident brokers and other dealer types under the Oklahoma Used Motor Vehicle and Parts Commission.

Effective November 1, 2012.