Oklahoma 2025 Regular Session

Oklahoma Senate Bill SB974 Compare Versions

Version 1 (Old)

Version 2 (New)

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29		-	SENATE FLOOR VERSION
30		-	February 27, 2025
	28	+	STATE OF OKLAHOMA
31	29
	30	+	1st Session of the 60th Legislature (2025)
32	31
33	32		COMMITTEE SUBSTITUTE
34	33		FOR
35		-	SENATE BILL NO. 974 By: Weaver and Guthrie of the
36		-	Senate
	34	+	SENATE BILL 974 By: Weaver of the Senate
37	35
38	36		and
39	37
40	38		Moore of the House
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	42	+
	43	+
	44	+	COMMITTEE SUBSTITUTE
44	45
45	46		An Act relating to online auctions; amending 12 O.S.
46	47		2021, Sections 757, as amended by Section 1, Chapter
47	48		326, O.S.L. 2022, 764, and 765, as amended by Section
48	49		2, Chapter 326, O.S.L. 2022 (12 O.S. Supp. 2024,
49	50		Sections 757 and 765), which relate to levy and
50	51		proceedings; adding certain notice requirements;
51	52		updating statutory language; updating statutory
52	53		references; making language gender neutral; allowing
53	54		for certain determination; adding certain reference;
54	55		modifying certain language relating to online
55	56		auctions for goods and chattels; prohibiting charging
56	57		of buyer’s premium; authorizing certain use of online
57	58		auction marketplace; prohibiting purchases by certain
58	59		individuals; requiring certain non electronic option
59	60		for certain bidders; allowing for certain requirement
60	61		of terms of service or use; allowing for certain
61	62		collection of payments; allowing for certain fees for
62	63		online auction marketplaces; providing for
63	64		codification; and declaring an emergency.
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69	70		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
70		-	SECTION 1. AMENDATORY 12 O.S. 2021, Section 757, as
71		-	amended by Section 1, Ch apter 326, O.S.L. 2022 (12 O.S. Supp. 2024,
72		-	Section 757), is amended to read as follows:
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	97	+	SECTION 1. AMENDATORY 12 O.S. 2021, Section 757, as
	98	+	amended by Section 1, Chapter 326, O.S.L. 2022 (12 O.S. Supp. 2024,
	99	+	Section 757), is amended to read as fol lows:
100	100		Section 757. A. 1. No goods or chattels levied upon by an
101	101		officer pursuant to an execution issued by a court of record shall
102	102		be sold unless the party causing the execution to be issued:
103	103		a. causes a written notice of sale e xecuted by the
104	104		sheriff describing the goods or chattels subject to
105	105		sale and stating the date, time and place where the
106	106		sale shall occur and, if the sale is to utilize an
107	107		online auction marketplace, stating the sale will be
108	108		conducted through online auction, the Internet address
109	109		where bids may be entered, the date of the sale, and
110	110		the time when bidding is scheduled to be open, to be
111	111		mailed, by first class first-class mail, postage
112	112		prepaid, to the judgment debtor, any holder of record
113	113		of an interest in the pro perty, and all other persons
114	114		of whom the party causing the execution to be issued
115	115		has notice who claim a lien or any interest in the
116	116		goods or chattels, at least ten (10) days prior to the
117	117		date of the sale, if the names and actual addresses of
118	118		such persons are known, and
119	119		b. causes public notice to be given of the date, time and
120	120		place of sale, for at least ten (10) days before the
121		-	day of sale. The notice shall be executed by the
122		-	sheriff and shall stat e the name of any person having
123		-	an interest in the property whose actual address is
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	147	+	day of sale. The notice s hall be executed by the
	148	+	sheriff and shall state the name of any person having
	149	+	an interest in the propert y whose actual address is
151	150		unknown, and shall designate the person or persons
152	151		whose unknown successors are being notified. The
153	152		notice shall be given by advertisement, published in
154	153		some newspaper published in the county, or, in case no
155	154		newspaper be is published therein, by setting up
156	155		advertisements in five public places in the county.
157	156		Two advertisements shall be put up in the township
158	157		where the sale is to be held, and
159	158		c. files in the case an affidavit of proof of mailing and
160	159		of publication or posting.
161	160		2. A written notice of sale executed prior to the effective
162	161		date of this act November 1, 1987, by the party causing the
163	162		execution to be issued but otherwise conforming to the provisions of
164	163		this section shall, for all purposes, be deemed valid.
165	164		B. 1. If a purchaser other than the par ty causing the
166	165		execution to be issued, when required by the sheriff, fails to post
167	166		cash or certified funds equal to ten percent (10%) of the amount bid
168	167		for the property within twenty -four (24) hours of the sale,
169	168		excluding Sundays and legal holidays, or otherwise fails to complete
170	169		the sale, the sheriff may proceed with the sale and may accept the
171	170		next highest bid.
172		-	2. When goods and chattels levied upon cannot be sold for want
173		-	of bidders, the officer making such return shall affix a true and
174		-	correct inventory of such goods and chattels to the execution, and
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	197	+	2. When goods and chattels levied upon cannot be sold for want
	198	+	of bidders, the officer making such return shall affix a true and
	199	+	correct inventory of such goods and chattels to the execution, and
202	200		the party causing such execution to be issued may thereupon sue out
203	201		another writ of execution, directing the sale of the property levied
204	202		upon as provided for in this section.
205	203		C. The sheriff may determine whether the auction provided for
206	204		in this section shall utilize an online auction marketplace. All
207	205		sales of goods and chattels may be conducted by public auction
208	206		through the Internet or other electronic means pursuant to this
209	207		section. For a public auction held by Internet or other electronic
210	208		means, place may include the Internet website of an online auction
211	209		marketplace selected b y the sheriff to host and conduct the
212	210		sheriff’s sale of goods and chattels.
213	211		D. No sheriff nor other off icer conducting the sale of such
214	212		property, nor any appraiser or online auction marketplace, shall
215	213		either directly or indirectly purchase the same; and e very purchase
216	214		so made shall be considered fraudulent and void. If the online
217	215		auction marketplace is a corporation, limited liability company,
218	216		limited liability partnership, or partnership, the foregoing
219	217		restriction shall apply to any director, officer, em ployee, managing
220	218		member, or partner of such appraiser or online auction marketplace.
221	219		E. In the case of a sale by a sheriff conducted through an
222	220		online auction marketplace, the online auction marketplace may
223		-	collect deposits and payments by wire transfer, electronic funds
224		-	transfer, or cashier ’s check from a registered bidder, settle the
225		-	transaction, and then remit payment of the purchase price to the
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	247	+	collect deposits and payments by wire transfer, electronic funds
	248	+	transfer, or cashier ’s check from a registered bidder, settle the
	249	+	transaction, and then remit payment of the purchase price to the
253	250		court clerk as directed by the a sheriff utilizing an online auction
254	251		marketplace shall be conducted in accor dance with the provisions of
255	252		Section 4 of this act .
256	253		SECTION 2. AMENDATORY 12 O .S. 2021, Section 764, is
257	254		amended to read as follows:
258	255		Section 764. A. Lands and tenements taken on execution shall
259	256		not be sold unless the party causin g the execution to be issued:
260	257		1. Causes a written notice of sale executed by the sheriff
261	258		containing the legal description of the property to be sold and
262	259		stating the date, time and place where the property will be sold
263	260		and, if the sale is to utilize an onl ine sale marketplace, stating
264	261		the sale will be conducted through online auction, the Internet
265	262		address where bids may be entered, the date of the sale, and the
266	263		time when bidding is scheduled to be open, to be mailed, by first
267	264		class first-class mail, postage prepaid, to the judgment debtor, any
268	265		holder of interest of record in the property to be sold whose
269	266		interest is sought to be extinguished, and all other persons of whom
270	267		the party causing the execution to be issued has notice who claim a
271	268		lien or any interest in the property whose interest is sought to be
272	269		extinguished, at least ten (10) days prior to the date of the sale,
273	270		if the names and addresses of such persons are known; and
274		-	2. Causes public notice of the date, time and place of sale to
275		-	be given by publication for two (2) successive weeks in a newsp aper
276		-	published in the county in which the property to be sold is
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	297	+	2. Causes public notice of the date, time and place of sale to
	298	+	be given by publication for two (2) successive weeks in a newspaper
	299	+	published in the county in which the property to be sold is
304	300		situated, or in case no newspaper be is published in such county,
305	301		then in a newspaper of general circulation therein and by putting up
306	302		an advertisement upon the courthouse door and in five other public
307	303		places in such county, two of which shall be in the township where
308	304		such lands and tenements lie; provided, that in counties now having
309	305		a population of one hundred ten thousand (110,000) or more accor ding
310	306		to the last Federal Decennial Census, the advertisement shall be
311	307		published in some newspaper published in the city or township where
312	308		said such lands and tenements lie , or if there be is no newspaper in
313	309		such city or township , then in some newspaper pub lished in the
314	310		county. Notice shall be executed by the sheriff and state the name
315	311		of any person having a n interest in the property to be sold whose
316	312		interest is sought to be extinguished and whose actual address is
317	313		unknown, and shall designate the person or persons whose unknown
318	314		successors are being notified; and
319	315		3. Files in the case an affidavit of proof of mailing and of
320	316		publication or posting.
321	317		B. A written notice of sale executed prior to the effective
322	318		date of this act November 1, 1987, by the party causing the
323	319		execution to be issued but otherwise conforming to the provisions of
324	320		this section shall, for al l purposes, be deemed valid.
325		-	C. Such sale shall not be held less than thirty (30) days after
326		-	the date of first publication of the notice required in paragraph 2
327		-	of subsection A of this section. If a purchaser other than the
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	347	+	C. Such sale shall not be held less than thirty (30) days after
	348	+	the date of first publication of the notice required in pa ragraph 2
	349	+	of subsection A of this section. If a purchaser other than the
355	350		party causing the execution to be issued, when required by the
356	351		sheriff, fails to post cash or certified funds equal to ten percent
357	352		(10%) of the amount bid for the property within twe nty-four (24)
358	353		hours of the sale, excluding Sundays and legal holidays, or
359	354		otherwise fails to complete th e sale, the sheriff may accept the
360	355		next highest bid. Except as otherwise provided for in subsection B
361	356		of this section, sales for which the provisions o f subsection A of
362	357		this section have not been complied with shall be set aside on
363	358		motion by the court to which the execution is returnable.
364	359		D. The sheriff may determine whether the sale provided for in
365	360		this section shall utilize an online auction marketpla ce. All sales
366	361		of lands and tenements conducted by a sheriff utilizing an online
367	362		auction marketplace sha ll be conducted in accordance with the
368	363		provisions of Section 4 of this act.
369	364		SECTION 3. AMENDATORY 12 O.S. 2021, Section 765, a s
370	365		amended by Section 2, Chapter 326, O.S.L. 2022 (12 O.S. Supp. 2024,
371	366		Section 765), is amended to read as follows:
372	367		Section 765. A. Upon the return of any writ of execution for
373	368		the satisfaction of which any lands or tenements have been sold, the
374	369		party causing the execution to be issued shall:
375		-	1. Cause a written notice of hearing on the confirmation of the
376		-	sale to be mailed, by first class first-class mail, postage prepaid,
377		-	to all persons to whom mailing of the notice of the execution of
378		-	sale was required to be made pursuant to Section 764 of this tit le
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	396	+	1. Cause a written notice of hearing on the confirmation of the
	397	+	sale to be mailed, by first class first-class mail, postage prepaid,
	398	+	to all persons to whom mailing of the notice of the execution of
	399	+	sale was required to be made pursuant to Section 764 of this title
406	400		and to the high bidder at such sale, at least ten (10) days before
407	401		the hearing on the confirmation of the sale, and if the name or
408	402		address of any such person is unknown, shall cause a notice of the
409	403		hearing on the confirmation of the sale to be published in a
410	404		newspaper authorized by law to publish legal notices in the county
411	405		in which the property is situated. If no newspaper authorized by
412	406		law to publish legal notices is published in such county, the notice
413	407		shall be published in some such newspaper of general circulation
414	408		which is published in an adjoining county. The notice shall state
415	409		the name of any person being so notified and shall be published once
416	410		at least ten (10) days prior to the date of the hearing o n the
417	411		confirmation of the sale; and
418	412		2. Files in the case an affidavit of proof of mailing, and if
419	413		required, of publication.
420	414		B. Any person filing a written objection to the confirmation of
421	415		the sale shall cause a copy of such written objection to be mailed ,
422	416		prior to the hearing on the confirmation of the sale, by first class
423	417		first-class mail, postage prepaid, to all persons to whom mailing of
424	418		the notice of the hearing on the confirmation of the sale was
425	419		required to be made pursuant to this section. The cou rt may
426		-	continue the hearing or make such other orders as are necessary to
427		-	allow the interested persons to adequately support or oppose any
428		-	such objections to the confirmation of the sale. If the court,
429		-	after having carefully examined the proceedings of the officer, is
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	446	+	continue the hearing or make such other orders as are necessary to
	447	+	allow the interested persons t o adequately support or oppose any
	448	+	such objections to the confirmation of the sale. If the court,
	449	+	after having carefully examined the proceedings of th e officer, is
457	450		satisfied that the sale has, in all respects, been made in
458	451		conformity with the provisions of this article section, the court
459	452		shall direct the clerk to make an entry on the journal that the
460	453		court is satisfied of the legality of such sale and s hall order that
461	454		the officer make to the purchaser a deed for such lands and
462	455		tenements; and the officer, on making such sale, shall deposit the
463	456		purchase money with the clerk of the court from which said the writ
464	457		of execution issued, where same shall remain until the court shall
465	458		have examined his or her proceedings as aforesaid, when said the
466	459		clerk of the court shall pay the same to the person entitled
467	460		thereto, agreeable to the order of the court. In the case of a sale
468	461		by a sheriff conducted through an onlin e auction marketplace, the
469	462		online auction marketplace may collect and hold deposits and
470	463		additional purchase money payments up to the full amount of the
471	464		winning bid, settle the transaction, and then remit payment of the
472	465		purchase money to the court clerk as directed by the sheriff or the
473	466		court. Any No buyer’s premium shall be charged to a buyer for
474	467		online auction marketplace services rendered to the buyer shall not
475	468		be considered purchase price provided that the buyer ’s premium is
476	469		disclosed in advance in the listing on any sale.
477		-	SECTION 4. NEW LAW A new section of law to be codified
478		-	in the Oklahoma Statutes as Section 776 of Title 12, unless there is
479		-	created a duplication in numbering, reads as follows:
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	496	+	SECTION 4. NEW LAW A new section of law to be codified
	497	+	in the Oklahoma Statutes as Section 776 of Title 12, unless there is
	498	+	created a duplication in numbering, reads as follows:
507	499		A. In accordance with the provis ions of Section 751 et seq. of
508	500		Title 12 of the Oklahoma Statutes, sheriffs may conduct the sale of
509	501		goods, chattels, or lands and tenements utilizing an online auction
510	502		marketplace.
511	503		B. No sheriff or other officer conducting the sale of property
512	504		or any appraiser or online auction marketplace, including any
513	505		affiliation with a corporation, limited liability comp any, or
514	506		partnership, shall either directly or indirectly purchase the
515	507		property; any such purchase shall be considered fraudulent and void.
516	508		The prohibition of this subsection shall also apply to those related
517	509		by affinity or consanguinity within the third degree. If the
518	510		appraiser or online auction marketplace is a corporation, limited
519	511		liability company, limited liability partnership, or partnership,
520	512		such prohibition shall apply to any director, officer, employee,
521	513		managing member, or partner of such appraise r or online auction
522	514		marketplace.
523	515		C. If an online marketplace is used pursuant to this section,
524	516		the vendor shall provide a non electronic option for bidd ers.
525	517		D. The online auction vendor may require bidders to agree to
526	518		reasonable terms of service or use. Any such terms of service or
527		-	use shall provide that the terms of service or use are subject to
528		-	the laws and jurisdiction of this state.
529		-	E. The online auction marketplace may collect deposits and
530		-	payments by wire transfer, electronic funds transfer, or cashier ’s
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557	544
	545	+	use shall provide that the terms of service or use are subject to
	546	+	the laws and jurisdiction of this state.
	547	+	E. The online auction marketplace may collect deposits and
	548	+	payments by wire transfer, electronic funds transfer, or cas hier’s
558	549		check from a registered bidder ; settle the transaction ; and remit
559	550		payment of the purchase price to the court clerk as directed by the
560	551		sheriff.
561	552		F. In accordance with the provisions of Section 765 of Title 12
562	553		of the Oklahoma Statutes, no buyer ’s premium shall be charged to a
563	554		buyer on any sale conducted by a sheriff or other officer utilizing
564	555		an online auction marketplace. The fee charged and all co sts
565	556		incurred by the online auction marketplace shall be assessed as
566	557		costs not to exceed Four Hundred Twe nty-five Dollars ($425.00) per
567	558		sale.
568	559		SECTION 5. It being immediately necessary for the preservation
569	560		of the public peace, health or safe ty, an emergency is hereby
570	561		declared to exist, by reason whereof this act shall take effect and
571	562		be in full force from and after its passage and approval.
572		-	~~COMMITTEE REPORT BY: COMMITTEE ON BUSINESS AND INSURANCE~~
573		-	~~February~~ 27, 2025 ~~- DO PASS AS AMENDED BY CS~~
	563	+
	564	+	60-1-1761 CAD 2/27/2025 11:29:10 AM