Okla. Admin. Code § 670:20-41-2

Current through Vol. 42, No. 6, December 2, 2024

Section 670:20-41-2 - Lienholder notification

(a)Procedures for entry of lien on Oklahoma title documents. A licensed operator or Service Oklahoma must complete a lien entry form on any vehicle registering for the first time in Oklahoma, if the submitted documentation contains the name of a secured party, or if the title certificate is being held by the secured party in another state, or if the Oklahoma title is to be placed on document hold and the applicant has confirmed the existence of an active lien. The owner of a vehicle on which there is an existing lien or encumbrance and whose title is being held by a secured party in another state, or an owner who has confirmed the existence of an active lien on a vehicle for which the Oklahoma title is to be placed on document hold, shall file an affidavit to that effect with Service Oklahoma or the licensed operator. The current name and address of the secured party or lienholder shall also be stated in the affidavit. The lien will be shown on the face of the original Oklahoma title.

(b)Notification procedure. The lien entry form and releases will be mailed to the creditor, along with an explanatory letter. When an out-of-state lienholder is holding the out-of-state certificate of title, the lienholder will be requested to send the title to Service Oklahoma, so that an Oklahoma title with the lien noted thereon may be delivered to the debtor.

(c)Fees. The total charge for completing and recording the lien as set forth by statute will be paid by the person registering the vehicle (owner).

Okla. Admin. Code § 670:20-41-2

Adopted by Oklahoma Register, Volume 41, Issue 23, August 15, 2024, eff. 8/25/2024