SB 678 Summary

• Amends 68 O.S. 2011, Section 2105 to add a new exemption from motor vehicle excise tax for vehicles transferred by a repossessor directly back to the original owner(s) within 30 days of the repossession title issuance, provided ownership remains identical to pre-repossession records.

• Changes reference in Section 2105(5) from "Section 1101 et seq. of Title 47" to "the Oklahoma Vehicle License and Registration Act" regarding dealer exemptions for used motor vehicles and trailers.

• Effective date of November 1, 2013.