OK SB339

Amends 47 O.S. 2011, Section 1107 to exempt vehicle title transfers to insurers from total loss claim settlements from the requirement of notarized signatures on certificates of title.

Vehicle title transfers to insurers no longer require notarization, while all other title transfers continue to require sworn endorsement before a notary public or authorized person.

Preserves existing requirements for purchasers or transferees (other than licensed dealers or charitable organizations) to present assigned certificates of title and insurance verification to the Oklahoma Tax Commission within 30 days, with an $11.00 fee.

Maintains penalties for violations: first conviction punishable by fine up to $500.00 with vehicle impoundment; second or subsequent conviction punishable by fine up to $1,000.00 with vehicle impoundment until all taxes and fees are paid.

Becomes effective November 1, 2015.