OK SB465

Amends 47 O.S. 2011, Section 1110 to strengthen lien release requirements for secured parties on motor vehicle titles in Oklahoma.

Requires secured parties to release liens within seven (7) business days of satisfaction, with a penalty of $100.00 for failure to do so.

Increases daily penalty to $100.00 per day after seven business days following written demand for lien release, capping at $1,500.00 or vehicle value (whichever is less), plus actual damages to debtor.

Allows owners to obtain new title certificates after lien satisfaction either by submitting a signed release or by affidavit if the secured party cannot provide a release.

Effective date: November 1, 2015.