HB 1365 Summary

• Renames the "Unfair Sales Act" to the "Unfair Fuel and Legend Drug Products Sales Act" and restricts its application to gasoline, diesel fuel, and legend drug products only.

• Finds that competitive pricing standards appropriate for most products may not apply to fuel and legend drug products due to their highly regulated industries, and establishes that different pricing standards may ensure orderly market conditions and benefit Oklahoma citizens.

• Updates statutory definitions to capitalize "Retailer" and "Wholesaler" and modifies cost calculation definitions to apply only to fuel and legend drug products rather than all merchandise.

• Restricts unfair sales practices prohibitions (selling below cost to induce other purchases or injure competitors) to apply only to gasoline, diesel fuel, or legend drug products.

• Maintains penalties for violations (misdemeanor with up to $500 fine) and civil remedies (injunctive relief, damages, and cost of suit) but limits their scope to the specified fuel and drug products.