Oklahoma Senate Bill SB273

Oklahoma 2022 Regular Session

• Introduced: 2/1/21
• Refer: 2/2/21
• Report Pass: 2/9/21
• Refer: 2/9/21
• Report Pass: 3/3/21
• Engrossed: 3/11/21
• Refer: 3/22/21
• Report Pass: 4/7/21
• Enrolled: 5/6/21
• Passed: 5/12/21

Caption

Liens on personal property; requiring registration for persons preparing certain notices. Effective date.

Impact

If enacted, SB273 will have a significant impact on how liens on personal property are handled in Oklahoma. Specifically, it will require individuals preparing or assisting in preparing lien notices to comply with regulatory measures, which suggests an effort to enhance accountability within this sector. The inclusion of penalties for non-compliance aims to deter improper practices and maintain a standard for transparency in the filing of liens.

Summary

Senate Bill 273 seeks to regulate the preparation of notices related to liens on personal property by requiring individuals who charge a fee for assisting in the preparation of such notices to register with the Oklahoma Tax Commission. This registration is accompanied by a nominal annual fee of fifty dollars. The bill aims to ensure that only licensed individuals are involved in the preparation of these notices, thereby protecting the integrity of the process and ensuring compliance with state regulations.

Sentiment

The sentiment surrounding SB273 appears to be generally positive among those advocating for regulatory measures to stabilize the lien process. Supporters believe that implementing such regulations will reduce fraudulent activities and ensure that the residents and businesses are accurately informed. However, it may also face some opposition from individuals who perceive the registration requirement and fees as additional governmental oversight that could complicate the process for those who provide assistance in this area.

Contention

Notable points of contention include the requirement that only registered individuals may prepare lien notices and the associated monetary penalty for violations. Some stakeholders may argue that these regulations could create barriers to entry for smaller businesses or individuals assisting others in navigating the lien process. The bill emphasizes the need for oversight but may also spark debates over the appropriateness of state control over what some might consider routine assistance in legal matters.