OK HB2068

Amends 47 O.S. 2011, Section 583 to remove bonding requirements for used motor vehicle salespersons.

Eliminates the previous requirement that salespersons obtain a $1,000 bond and removes the exemption for motor vehicle dealers with valid Oklahoma Motor Vehicle Commission licenses.

Increases used motor vehicle dealer bond requirement from $15,000 to $25,000.

Maintains bonding requirements for wholesale dealers ($25,000), manufactured home dealers ($30,000), and manufacturers ($30,000).

Effective date: November 1, 2013.