Oklahoma 2024 Regular Session

Oklahoma Senate Bill SB1903 Compare Versions

Version 1 (Old)

Version 2 (New)

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3		-	~~Req~~. No. ~~3791~~ Page 1 1
	3	+	ENGR. H. A. to ENGR. S. B. NO. 1903 Page 1 1
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28		-	STATE OF OKLAHOMA
29		-
30		-	2nd Session of the 59th Legislature (2024)
31		-
32		-	CONFERENCE COMMITTEE SUBSTITUTE
33		-	FOR ENGROSSED
34		-	SENATE BILL 1903 By: Hall of the Senate
	28	+	ENGROSSED HOUSE AMENDME NTS
	29	+	TO
	30	+	ENGROSSED SENATE BILL NO . 1903 By: Hall of the Senate
35	31
36	32		and
37	33
38	34		Moore of the House
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44		-	CONFERENCE COMMITTEE SUBSTITUTE
45		-
46	40		An Act relating to online auctions; amending 12 O.S.
47		-	2021, Sections 757, as amended by Section 1, Chapter
48		-	326, O.S.L. 2022, 764, and 765, as amended by Section
49		-	2, Chapter 326, O.S.L. 2022 (12 O.S. Supp. 2023,
50		-	Sections 757 and 765), which relate to levy and
51		-	proceedings; adding certain notice requirements;
52		-	updating statutory language; updating statutory
53		-	references; making language gender neutral; allowing
54		-	for certain determination; adding certain reference;
55		-	modifying certain language relating to online
56		-	auctions for goods and chattels ; prohibiting charging
57		-	of buyer’s premium; authorizing certain use of online
58		-	auction marketplace; prohibiting purchases by certain
59		-	individuals; allowing for certain collection of
60		-	payments; allowing for certain fees for online
61		-	auction marketplaces; providing for codification; and
62		-	declaring an emergency.
	41	+	2021, Section 757, as amended by Section 1, Chapter
	42	+	326, O.S.L. 2022 (12 O.S. Supp . 2023, Section 757),
	43	+	which relates to acceptance of bids; updating
	44	+	statutory language; updating statutory reference;
	45	+	prohibiting charging of buyer’s premium; limiting
	46	+	certain fees for online auction marketplaces;
	47	+	clarifying certain applicability; amending 12 O.S.
	48	+	2021, Section 765, as amended by Section 2, Chapter
	49	+	326, O.S.L. 2022 (12 O.S. Supp. 2023, Section 765),
	50	+	which relates to the confirmation of sale;
	51	+	prohibiting charging of buyer’s premium; limiting
	52	+	certain fees for online auction marketplaces; and
	53	+	providing an effective date.
63	54
64	55
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	58	+	AMENDMENT NO. 1. Page 1, lines 6 through 12.5, strike the title to
	59	+	read:
67	60
68		-	BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
69		-	SECTION 1. AMENDATORY 12 O.S. 2021, Section 757, as
70		-	amended by Section 1, Chapter 326, O.S.L. 2022 (12 O.S. Supp. 2023,
71		-	Section 757), is amended to read as follows:
72	61
73		-	Req. No. 3791 Page 2 1
	62	+	"[ online auctions - acceptance of bids - buyer’s
	63	+	premium - fees for online auction marketplaces -
	64	+	confirmation of sale – effective date ]"
	65	+
	66	+	AMENDMENT NO. 2. Page 1, line 15, strike the enacting clause
	67	+
	68	+	ENGR. H. A. to ENGR. S. B. NO. 1903 Page 2 1
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98		-	Section 757. A. 1. No goods or chattels levied upon by an
99		-	officer pursuant to an execution issued by a court of record shall
100		-	be sold unless the party causing the execution to be issued:
101		-	a. causes a written notice of sale executed by the
102		-	sheriff describing the go ods or chattels subject to
103		-	sale and stating the date, time and place whe re the
104		-	sale shall occur and, if the sale is to utilize an
105		-	online auction marketplace, stating the sale will be
106		-	conducted through online auction, the Internet address
107		-	where bids may be entered, and the date of the sale
108		-	and the time when bidding is scheduled to be open, to
109		-	be mailed, by first class first-class mail, postage
110		-	prepaid, to the judgment debtor, any holder of record
111		-	of an interest in the property, and all other persons
112		-	of whom the party causing the execution to be issued
113		-	has notice who claim a lien or any interest in the
114		-	goods or chattels, at least ten (10) days prior to the
115		-	date of the sale, if the names and actual addresses of
116		-	such persons are known, and
117		-	b. causes public notice to be given of the date, time and
118		-	place of sale, for at least ten (10) days before the
119		-	day of sale. The notice shall be executed by the
120		-	sheriff and shall state the name of any person having
121		-	an interest in the property whose actual address is
	93	+	Passed the House of Representatives the 25th day of April, 2024.
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123		-	Req. No. 3791 Page 3 1
	95	+
	96	+
	97	+
	98	+
	99	+	Presiding Officer of the House of
	100	+	Representatives
	101	+
	102	+
	103	+	Passed the Senate the ____ day of _______ ___, 2024.
	104	+
	105	+
	106	+
	107	+
	108	+
	109	+	Presiding Officer of the Senate
	110	+
	111	+	ENGR. S. B. NO. 1903 Page 1 1
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148		-	unknown, and shall designate the person or persons
149		-	whose unknown successors are bei ng notified. The
150		-	notice shall be given by advertisement, published in
151		-	some newspaper published in the county, or, in case no
152		-	newspaper be is published therein, by setting up
153		-	advertisements in five public places in the county.
154		-	Two advertisements shall be put up in the township
155		-	where the sale is to be held, and
156		-	c. files in the case an affidavit of proof of mailing and
157		-	of publication or posting.
158		-	2. A written notice of sale executed prio r to the effective
159		-	date of this act November 1, 1987, by the party causing the
160		-	execution to be issued but otherwise conforming to the provisions of
161		-	this section shall, for all purposes, be deemed valid.
162		-	B. 1. If a purchaser other than the party causing the
163		-	execution to be issued, when required by the sheriff, fails to post
164		-	cash or certified funds equal to ten percent (10%) of the amount bid
165		-	for the property within twenty -four (24) hours of the sale,
166		-	excluding Sundays and legal holidays, or otherwise fails to complete
167		-	the sale, the sheriff may proceed with the sale and may acc ept the
168		-	next highest bid.
169		-	2. When goods and chattels levied upon cannot be sold for want
170		-	of bidders, the officer making such retu rn shall affix a true and
171		-	correct inventory of such goods and chattels to the execution, and
	136	+	ENGROSSED SENATE
	137	+	BILL NO. 1903 By: Hall of the Senate
172	138
173		-	Req. No. 3791 Page 4 1
	139	+	and
	140	+
	141	+	Moore of the House
	142	+
	143	+
	144	+
	145	+
	146	+	An Act relating to online auctions; amending 12 O.S.
	147	+	2021, Section 757, as amended by Section 1, Chapter
	148	+	326, O.S.L. 2022 (12 O.S. Supp. 2023, Section 757 ),
	149	+	which relates to acceptance of bids; updating
	150	+	statutory language; updating statutory reference;
	151	+	prohibiting charging of buyer’s premium; limiting
	152	+	certain fees for online auction marketplaces;
	153	+	clarifying certain applicability; amending 12 O.S.
	154	+	2021, Section 765, as amended by Section 2, Chapter
	155	+	326, O.S.L. 2022 (12 O.S. Supp. 2023, Section 765),
	156	+	which relates to the confirmation of sale;
	157	+	prohibiting charging of buyer’s premium; limiting
	158	+	certain fees for online auction marketplaces; and
	159	+	providing an effective date.
	160	+
	161	+
	162	+
	163	+
	164	+	BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
	165	+	SECTION 1. AMENDATORY 12 O.S. 2021, Section 757, as
	166	+	amended by Section 1, Chapter 326, O.S.L. 2022 (12 O.S. Supp. 2023,
	167	+	Section 757), is amended to read as follow s:
	168	+	Section 757. A. 1. No goods or chattels levied upon by an
	169	+	officer pursuant to an execution issued by a court of record shall
	170	+	be sold unless the party causing the execution to be issued:
	171	+	a. causes a written notice of sale executed by the
	172	+	sheriff describing the goods or chattels subject to
	173	+	sale and stating the date, time and place where the
	174	+
	175	+	ENGR. S. B. NO. 1903 Page 2 1
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198		-	the party causing such execution to be issued may thereupon sue out
199		-	another writ of execution, directing the sale of the property levied
200		-	upon as provided for in th is section.
201		-	C. The sheriff may determine whether the auction provided for
202		-	in this section shall utilize an online auction mar ketplace. All
203		-	sales of goods and chattels may be conducted by public auction
204		-	through the Internet or other electronic means pursu ant to this
205		-	section. For a public auction held by Internet or other electronic
206		-	means, place may include the Internet website of an online auction
207		-	marketplace selected by the sheriff to host and conduct the
208		-	sheriff’s sale of goods and chattels.
209		-	D. No sheriff nor other officer conducting the sale of such
210		-	property, nor any appraiser or online auction marketplace, shall
211		-	either directly or indirectly purchase the same; and every purchase
212		-	so made shall be considered fraudulent and void. If the online
213		-	auction marketplace is a corporation, limited liability company,
214		-	limited liability partnership, or partnership, the foregoing
215		-	restriction shall apply to any director, officer, employee, managing
216		-	member, or partner of such appraiser or online auction marketplace.
217		-	E. In the case of a sale by a sheriff conducted through an
218		-	online auction marketplace, the online auction marketplace may
219		-	collect deposits and payments by wire transfer, electronic funds
220		-	transfer, or cashier ’s check from a registered bidder, settle the
221		-	transaction, and then remit payment of the purchase price to the
	200	+	sale shall occur to be mailed, by first class mail,
	201	+	postage prepaid, to the judgment debtor, any holder of
	202	+	record of an interest in the property, and all other
	203	+	persons of whom the party causing the execution to be
	204	+	issued has notice who claim a lien or any interest in
	205	+	the goods or chattels, at least ten (10) days prior to
	206	+	the date of the sale, if the names and actual
	207	+	addresses of such persons are known, and
	208	+	b. causes public notice to be given of the date, time and
	209	+	place of sale, for at least ten (10) days before the
	210	+	day of sale. The notice shall be executed by the
	211	+	sheriff and shall state the name of any person having
	212	+	an interest in the property whose actual address is
	213	+	unknown, and shall designate the person or persons
	214	+	whose unknown successors are being notified. The
	215	+	notice shall be given by advertisement, published in
	216	+	some newspaper published in the county, or, in case no
	217	+	newspaper be is published therein, by setting u p
	218	+	advertisements in five public places in the county.
	219	+	Two advertisements shall be put up in the township
	220	+	where the sale is to be held, and
	221	+	c. files in the case an affidavit of proof of mailing and
	222	+	of publication or posting.
222	223
223		-	~~Req~~. No. ~~3791~~ Page 5 1
	224	+	ENGR. S. B. NO. 1903 Page 3 1
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248		-	court clerk as directed by the sheriff a sheriff utilizing an online
249		-	auction marketplace shall be conducted in accordance with the
250		-	provisions of Section 4 of this act .
251		-	SECTION 2. AMENDATORY 12 O.S. 2021, Section 764, is
252		-	amended to read as follows:
253		-	Section 764. A. Lands and tenements taken on execution shall
254		-	not be sold unless the party causing the execution to be issued:
255		-	1. Causes a written notice of sale executed by t he sheriff
256		-	containing the legal description of the property to be sold and
257		-	stating the date, time and place where the property will be sold
258		-	and, if the sale is to utilize an online auction marketplace,
259		-	stating the sale will be conducted through online auct ion, the
260		-	Internet address where bids may be entered, a nd the date of the sale
261		-	and the time when bidding is scheduled to be ope n, to be mailed, by
262		-	first class first-class mail, postage prepaid, to the judgment
263		-	debtor, any holder of interest of record in the property to be sold
264		-	whose interest is sought to be extinguished, and all other persons
265		-	of whom the party causing the execution to be issued has notice who
266		-	claim a lien or any interest in the property whose interest is
267		-	sought to be extinguished, at least t en (10) days prior to the date
268		-	of the sale, if the nam es and addresses of such persons are known;
269		-	and
270		-	2. Causes public notice of the date, time and place of sale to
271		-	be given by publication for two (2) successive weeks in a newspaper
	249	+	2. A written notice of sale ex ecuted prior to the effective
	250	+	date of this act November 1, 1987, by the party causing the
	251	+	execution to be issued but otherwise conforming to the provisions of
	252	+	this section shall, for all purposes, be deemed valid.
	253	+	B. 1. If a purchaser other than the part y causing the
	254	+	execution to be issued, when required by the sheriff, fails to post
	255	+	cash or certified funds equal to ten percent (10%) of the amount bid
	256	+	for the property within twenty -four (24) hours of the sale,
	257	+	excluding Sundays and legal holidays, or othe rwise fails to complete
	258	+	the sale, the sheriff may proceed with the sale and may accept the
	259	+	next highest bid.
	260	+	2. When goods and chattels levied upon cannot be sold for want
	261	+	of bidders, the officer making such return shall affix a true and
	262	+	correct inventory of such goods and chattels to the execution, and
	263	+	the party causing such execution to be issued may thereupon sue out
	264	+	another writ of execution, directing the sale of the property levied
	265	+	upon as provided for in this section.
	266	+	C. All sales of goods and chat tels may be conducted by public
	267	+	auction through the Internet or other electronic means pursuant to
	268	+	this section. For a public auction held by Internet or other
	269	+	electronic means, the place may include the Internet website of an
	270	+	online auction marketplace s elected by the sheriff to host and
	271	+	conduct the sheriff’s sale of goods and chattels.
272	272
273		-	~~Req~~. No. ~~3791~~ Page 6 1
	273	+	ENGR. S. B. NO. 1903 Page 4 1
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298		-	published in the count y in which the property to be sold is
299		-	situated, or in case no newspaper be is published in such county,
300		-	then in a newspaper of general circulation therein and by putting up
301		-	an advertisement upon the courthouse door and in five other public
302		-	places in such county, two of which shall be in the township where
303		-	such lands and tenements lie; provided, that in counties now having
304		-	a population of one hundred ten thousand (110,000) or more according
305		-	to the last Federal Decennial Census, the advertisement shall be
306		-	published in some newspaper published in the city or township where
307		-	said such lands and tenements lie , or if there be is no newspaper in
308		-	such city or township , then in some newspaper published in the
309		-	county. Notice shall be executed by the sheriff and state the name
310		-	of any person having an interest in the prope rty to be sold whose
311		-	interest is sought to be extinguished and whose act ual address is
312		-	unknown, and shall designate the person or persons whose unknown
313		-	successors are being notified; and
314		-	3. Files in the case an affidavit of proof of mailing and of
315		-	publication or posting.
316		-	B. A written notice of sale executed prior to the effective
317		-	date of this act November 1, 1987, by the party causing the
318		-	execution to be issued but otherwise conforming to the provision s of
319		-	this section shall, for all purposes, be deemed v alid.
320		-	C. Such sale shall not be held less than thirty (30) days after
321		-	the date of first publication of the notice required in paragraph 2
	298	+	D. No sheriff nor other officer conducting the sale of such
	299	+	property, nor any appraiser or online auction marketplace, shall
	300	+	either directly or indirectly purchase the sa me; and every purchase
	301	+	so made shall be considered fraudulent and void. If the online
	302	+	auction marketplace is a corporation, limited liability company,
	303	+	limited liability partnership, or partnership, the foregoing
	304	+	restriction shall apply to any director, of ficer, employee, managing
	305	+	member, or partner of such appraiser or online auction marketplace.
	306	+	E. In the case of a sale by a sheriff conducted through an
	307	+	online auction marketplace, the online auction marketplace may
	308	+	collect deposits and hold payments by wire transfer, electronic
	309	+	funds transfer, or cashier ’s check from a registered bidder, and
	310	+	additional purchase money payments up to the full amount of the
	311	+	winning bid, settle the transaction, and then remit payment of the
	312	+	purchase price money to the court clerk as directed by the sheriff
	313	+	or the court. Except as provided in Section 765 of this title, no
	314	+	buyer’s premium shall be charged to a buyer on any sale including a
	315	+	sale conducted through an online auction platform. Any fee charged
	316	+	by an online marketplace and all costs incurred by the online
	317	+	auction marketplace shall be assessed as costs at one and six-tenths
	318	+	percent (1.6%) of selling price not to exceed Three Hundred Twenty -
	319	+	five Dollars ($325.00).
322	320
323		-	~~Req~~. No. ~~3791~~ Page 7 1
	321	+	ENGR. S. B. NO. 1903 Page 5 1
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348		-	of subsection A of this section. If a purchaser other than the
349		-	party causing the execution to be issued, when required by the
350		-	sheriff, fails to post cash or certified funds equal to ten percent
351		-	(10%) of the amount bid for the property within twenty -four (24)
352		-	hours of the sale, excluding Sundays and legal holidays, or
353		-	otherwise fails to complete the sale, the sheriff may accept the
354		-	next highest bid. Except as otherwise provided for in subse ction B
355		-	of this section, sales for which the provisions of subsection A of
356		-	this section have not been complied with shall be set a side on
357		-	motion by the court to which the execution is returnable.
358		-	D. The sheriff may determine whether the auction provided for
359		-	in this section shall utilize an online auction marketplace. All
360		-	sales of lands and tenements conducted by a sheriff utilizing an
361		-	online auction marketplace shall be conducted in a ccordance with the
362		-	provisions of Section 4 of this act.
363		-	SECTION 3. AMENDATORY 12 O.S. 2021, Section 765, as
	346	+	F. The provisions of this section shall apply only to sales
	347	+	conducted by sheriffs and shall not apply to any other public
	348	+	auction.
	349	+	SECTION 2. AMENDATORY 12 O.S. 2021, Section 765, as
364	350		amended by Section 2, Chapter 326, O.S.L. 2022 (12 O.S. Supp. 2023,
365	351		Section 765), is amended to read as follows:
366	352		Section 765. A. Upon the return of any writ of execution for
367	353		the satisfaction of which any lands or tenements have been sold, the
368	354		party causing the execution to be issued shall:
369	355		1. Cause a written notice of hearing on the confirmation of the
370		-	sale to be mailed, b y first class first-class mail, postage prepaid,
371		-	to all persons to whom mailing of the notice of the execution of
	356	+	sale to be mailed, by first class mail, postage prepaid, to all
	357	+	persons to whom mailing of the notice of the execution sale was
	358	+	required to be made pursuant to Section 764 of this title and to the
	359	+	high bidder at such sale, at least ten (10) days before the hearing
	360	+	on the confirmation of the sale, and if the name or address of any
	361	+	such person is unknown, shall cause a notice of the hearing on the
	362	+	confirmation of the sale to be published in a newspaper authorized
	363	+	by law to publish legal notices in the county i n which the property
	364	+	is situated. If no newspaper authorized by law to publish legal
	365	+	notices is published in such county, the notice shall be published
	366	+	in some such newspaper of general circulation which is published in
	367	+	an adjoining county. The notice sh all state the name of any person
	368	+	being so notified and shall be published once at least ten (10) days
372	369
373		-	~~Req~~. No. ~~3791~~ Page 8 1
	370	+	ENGR. S. B. NO. 1903 Page 6 1
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398		-	sale was required to be made pursuant to Section 764 of this title
399		-	and to the high bidde r at such sale, at least ten (10) days before
400		-	the hearing on the confirmation of the sale, and if the name or
401		-	address of any such person is unknown, shall cause a notice of the
402		-	hearing on the confirmation of the sale to be published in a
403		-	newspaper authorized by law to publish legal notices in the county
404		-	in which the property is situated. If no newspaper authorized by
405		-	law to publish legal notices is published in such county, the notice
406		-	shall be published in some such newspaper of general circulation
407		-	which is published in an adjoining county. The notice shall state
408		-	the name of any person being so notified and shall be published once
409		-	at least ten (10) days prior to the date of the hearing on the
410		-	confirmation of the sale; and
	395	+	prior to the date of the hearing on the confirmation of the sale;
	396	+	and
411	397		2. Files in the case an affidavit of proof of mailing, and if
412	398		required, of publicat ion.
413	399		B. Any person filing a written objection to the confirmation of
414	400		the sale shall cause a copy of such written objection to be mailed,
415	401		prior to the hearing on the confirmation of the sale, by first class
416		-	first-class mail, postage prepaid, to all persons to whom mailing of
417		-	the notice of the hearing on the confirmation of the sale was
418		-	required to be made pursuant to this section. The court may
419		-	continue the hearing or make such other orders as are necessary to
420		-	allow the interested persons to adequately support or oppose any
421		-	such objections to the confirmation of the sale. If the court,
	402	+	mail, postage prepaid, to all persons to whom mai ling of the notice
	403	+	of the hearing on the confirmation of the sale was required to be
	404	+	made pursuant to this section. The court may continue the hearing
	405	+	or make such other orders as are necessary to allow the interested
	406	+	persons to adequately support or oppo se any such objections to the
	407	+	confirmation of the sale. If the court, after having carefully
	408	+	examined the proceedings of the officer, is satisfied that the sale
	409	+	has, in all respects, been made in conformity with the provisions of
	410	+	this article, the court s hall direct the clerk to make an entry on
	411	+	the journal that the court is satisfied of the legality of such sale
	412	+	and shall order that the officer make to the purchaser a deed for
	413	+	such lands and tenements; and the officer, on making such sale,
	414	+	shall deposit the purchase money with the clerk of the court from
	415	+	which said writ of execution issued, where same shall remain until
	416	+	the court shall have examined his proceedings as aforesaid, when
	417	+	said clerk of the court shall pay the same to the person entitled
	418	+	thereto, agreeable to the order of the court. In the case of a sale
422	419
423		-	~~Req~~. No. ~~3791~~ Page 9 1
	420	+	ENGR. S. B. NO. 1903 Page 7 1
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448		-	after having carefully examined the proceedings of the officer, is
449		-	satisfied that the sale has, in all respects, been made in
450		-	conformity with the provisions of this article section, the court
451		-	shall direct the clerk to make an entry on the journal that the
452		-	court is satisfied of the legality of such sale and shall order that
453		-	the officer make to the purchaser a deed for such land s and
454		-	tenements; and the officer, on making such sale, shall deposit the
455		-	purchase money with the clerk of the court from which said the writ
456		-	of execution issued, where same shall remain until the court shall
457		-	have examined his or her proceedings as aforesaid, when said the
458		-	clerk of the court shall pay the same to the person entitled
459		-	thereto, agreeable to the order of the court. In the case of a sale
460	445		by a sheriff conducted through an online auction marketplace, the
461	446		online auction marketplace may collect and hold deposits and
462	447		additional purchase money payments up to the full amount of the
463	448		winning bid, settle the transaction, and then remit payment of the
464	449		purchase money to the court clerk as directed by the sheriff or the
465		-	court. Any No buyer’s premium shall be charged to a buyer for
466		-	online auction marketplace services rendered to the buyer shall not
467		-	be considered purchase price provided that the buyer ’s premium is
468		-	disclosed in advance in the listing on any sale.
469		-	SECTION 4. NEW LAW A new section of law to be codified
470		-	in the Oklahoma Statutes as Section 776 of Title 12, unless there is
471		-	created a duplication in nu mbering, reads as follows:
	450	+	court. Any No buyer's premium shall be charged to a buyer for on
	451	+	any sale including when a sale is conducted through an online
	452	+	auction marketplace services rendered to the buyer shall not be
	453	+	considered purchase price provided that the buyer's premium is
	454	+	disclosed in advance in the listing platform. The fee charged by
	455	+	the online auction marketplace and all costs incurred by th e online
	456	+	marketplace shall be assessed as costs at one and six-tenths percent
	457	+	(1.6%) of selling price not to exceed Three Hundred Twenty -five
	458	+	Dollars ($325.00).
	459	+	SECTION 3. This act shall become effective November 1, 2024.
472	460
473		-	~~Req~~. No. ~~3791~~ Page 10 1
	461	+	ENGR. S. B. NO. 1903 Page 8 1
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497	485
498		-	A. In accordance with the provisions of Section 75 1 et seq. of
499		-	Title 12 of the Oklahoma Statutes, sher iffs may conduct the sale of
500		-	goods or chattels or lands and tenements utilizing an online auction
501		-	marketplace.
502		-	B. No sheriff or other officer conducting the sale of property
503		-	or any appraiser or online auction marketplace shall either directly
504		-	or indirectly purchase the property; any such purchase shall be
505		-	fraudulent and void. If the appraiser or online auction marketplace
506		-	is a corporation, limited liability company, limited liability
507		-	partnership, or partnership, such prohibition shall apply to any
508		-	director, officer, employee, managing member, or partner of such
509		-	appraiser or online auction marketplace.
510		-	C. The online auction marketplace may collect deposits and
511		-	payments by wire transfer, electronic funds transfer, or cashier ’s
512		-	check from a registered bidder , settle the transaction, and remit
513		-	payment of the purchase price to the court clerk as directed by the
514		-	sheriff.
515		-	D. In accordance with the provisions of Section 765 of Title 12
516		-	of the Oklahoma Statutes , no buyer’s premium shall be charged to a
517		-	buyer on any sale utilizing an online auction marketplace. The fee
518		-	charged and all costs incurred by the online auction marketplace
519		-	shall be assessed as costs at one and six -tenths percent (1.6%) of
520		-	selling price not to exceed Four Hundred Dollars ($400.00).
	486	+	Passed the Senate the 7th day of March, 2024.
521	487
522		-	Req. No. 3791 Page 11 1
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547		-	SECTION 5. It being immediately necessary fo r the preservation
548		-	of the public peace, health or safety, an emergency i s hereby
549		-	declared to exist, by reason whereof this act shall take effect and
550		-	be in full force from and after its passage and appro val.
551	489
552		-	59-2-3791 MSBB 5/29/2024 10:58:32 AM
	490	+	Presiding Officer of the Senate
	491	+
	492	+
	493	+	Passed the House of Representatives the ____ day of __________,
	494	+	2024.
	495	+
	496	+
	497	+
	498	+	Presiding Officer of the House
	499	+	of Representatives
	500	+
	501	+