Okla. Admin. Code § 260:135-7-75
Current through Vol. 42, No. 7, December 16, 2024
Section 260:135-7-75 - Credit for excise tax and registration on theft of vehicle; defective vehicle(a)Theft of vehicle. If a new vehicle is stolen within 90 days of purchase, credit will be allowed on the excise tax and registration fee for a new replacement vehicle. A police report of the theft is required.(b)Vehicle certified as defective. If a new vehicle is certified by the manufacturer as defective within 6 months of purchase, credit will be allowed on the excise tax and registration fee for a new replacement vehicle. A statement from the manufacturer is required. Any manufacturer reacquiring or assisting a dealer or lienholder in reacquiring a motor vehicle registered in this state shall retitle the vehicle pursuant to the guidelines outlined in OAC 260:135-7-196.(c)Procedure for obtaining credit.(1) Credit will be allowed for the full amount paid upon the initial registration of the original vehicle in this State. The credit amount will not be prorated for period of time the original vehicle was in use. Excise tax may be credited down to no charge. Registration fee may be credited down to a minimum charge.(2) Credit will not be allowed for any late penalties paid.(3) No refund will be given if credit from original vehicle exceeds amount due on replacement.(4) Both rules apply only to the original purchaser of a new vehicle. If a transfer of ownership occurs before the vehicle loss, no credit will be allowed. The policies do apply, however, to an original out-of-state purchaser who moves to Oklahoma.(5) Licensed operators are required to contact Service Oklahoma for authorization before allowing credit on a replacement vehicle. Service Oklahoma shall ensure any defective vehicle was properly titled pursuant to the guidelines outlined in OAC 260:135-7-196.Okla. Admin. Code § 260:135-7-75
Transferred from 710:60-3-18 by HB 3419 (2022), eff. 5/19/2022Amended by Oklahoma Register, Volume 40, Issue 24, September 1, 2023, eff. 9/11/2023