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SENATE FLOOR VERSION
February 27, 2025
COMMITTEE SUBSTITUTE
FOR
SENATE BILL NO. 974 By: Weaver and Guthrie of the
Senate
and
Moore of the House
An Act relating to online auctions; amending 12 O.S.
2021, Sections 757, as amended by Section 1, C hapter
326, O.S.L. 2022, 764, and 765, as amended by Section
2, Chapter 326, O.S.L. 2022 (12 O.S. Supp. 2024,
Sections 757 and 765), which relate to levy and
proceedings; adding certain notice requirements;
updating statutory language; updating statutory
references; making language gender neutral; allowing
for certain determination; adding certain reference;
modifying certain language relating to online
auctions for goods and chattels; prohibiting charging
of buyer’s premium; authorizing certain use of onli ne
auction marketplace; prohibiting purchases by certain
individuals; requiring certain nonelectronic option
for certain bidders; allowing for certain requirement
of terms of service or use; allowing for certain
collection of payments; allowing for certain fees for
online auction marketplaces; providing for
codification; and declaring an emergency.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 12 O.S. 2021, Section 757, as
amended by Section 1, Ch apter 326, O.S.L. 2022 (12 O.S. Supp. 2024,
Section 757), is amended to read as follows:
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Section 757. A. 1. No goods or chattels levied upon by an
officer pursuant to an execution issued by a court of record shall
be sold unless the party causing the ex ecution to be issued:
a. causes a written notice of sale executed by the
sheriff describing th e goods or chattels subject to
sale and stating the date, time and place where the
sale shall occur and, if the sale is to utilize an
online auction marketplace, stating the sale will be
conducted through online auction, the Internet address
where bids may be entered, the date of the sale, and
the time when bidding is scheduled to be open, to be
mailed, by first class first-class mail, postage
prepaid, to the judgm ent debtor, any holder of record
of an interest in the property, and all other persons
of whom the party causing the execution to be issued
has notice who claim a lien or any interest in the
goods or chattels, at least ten (10) days prior to the
date of the sale, if the names and actual addresses of
such persons are known, and
b. causes public notice to be given of the date, time and
place of sale, for at least ten (10) days before the
day of sale. The notice shall be executed by the
sheriff and shall stat e the name of any person having
an interest in the property whose actual address is
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unknown, and shall designate the person or persons
whose unknown successors are being notified. The
notice shall be given by advertisement, published in
some newspaper published in the county, or, in case no
newspaper be is published therein, by setting up
advertisements in five public places in the county.
Two advertisements shall be put up in the township
where the sale is to be held, and
c. files in the case an affidavi t of proof of mailing and
of publication or posting.
2. A written notice of sale executed pri or to the effective
date of this act November 1, 1987, by the party causing the
execution to be issued but otherwise conforming to the provisions of
this section shall, for all purposes, be deemed valid.
B. 1. If a purchaser other than the party causing the
execution to be issued, when required by the sheriff, fails to post
cash or certified funds equal to ten percent (10%) of the amount bid
for the property with in twenty-four (24) hours of the sale,
excluding Sundays and legal holidays, or otherwise fail s to complete
the sale, the sheriff may proceed with the sale and may accept the
next highest bid.
2. When goods and chattels levied upon cannot be sold for want
of bidders, the officer making such return shall affix a true and
correct inventory of such goods and chattels to the execution, and
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the party causing such execution to be issued may thereupon sue out
another writ of execution, directing the sale of the p roperty levied
upon as provided for in this section.
C. The sheriff may determine whether the auction provided for
in this section shall utilize an online auction marketplace. All
sales of goods and chattels may be conducted by public auction
through the Internet or other electronic means pursuant to this
section. For a public auction held by Internet or other electronic
means, place may include the Internet website of an online auction
marketplace selected by the sheriff to host and conduct the
sheriff’s sale of goods and chattels.
D. No sheriff nor other officer conducting the sale of such
property, nor any appraiser or online auction marketplace, shall
either directly or indirectly purchase the same; and every purchase
so made shall be considered frau dulent and void. If the online
auction marketplace is a corporation, limited liability company,
limited liability partnership, or partnership, the foregoing
restriction shall apply to any director, officer, employee, managing
member, or partner of such ap praiser or online auction marketplace.
E. In the case of a sale by a sheriff conducted throug h an
online auction marketplace, the online auction marketplace may
collect deposits and payments by wire transfer, electronic funds
transfer, or cashier ’s check from a registered bidder, settle the
transaction, and then remit payment of the purchase price to the
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court clerk as directed by the a sheriff utilizing an online auction
marketplace shall be conducted in accordance with the provisions of
Section 4 of this act.
SECTION 2. AMENDATORY 12 O.S. 2021, Section 764, is
amended to read as follows:
Section 764. A. Lands and tenements taken on execution shall
not be sold unless the party causing the execution to be issued:
1. Causes a written notice of sale executed by the sheriff
containing the legal description of the property to be sold and
stating the date, time and place where the property will be sold
and, if the sale is to utilize an online sale marketplace, stating
the sale will be conducted through online auction, the Internet
address where bids may be entered, the date of the sale, and the
time when bidding is scheduled to be open, to be mailed, by first
class first-class mail, postage prepaid, to the judgment debtor, any
holder of interest of record in the property to be sold whose
interest is sought to be extinguished, and all other persons of whom
the party causing the execution to be issued has notice who claim a
lien or any interest in the property whose interest is sought to be
extinguished, at least ten (10) days prior to the date of the sale,
if the names and addres ses of such persons are known; and
2. Causes public notice of the date, time and place of sale to
be given by publication for two (2) successive weeks in a newsp aper
published in the county in which the property to be sold is
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situated, or in case no newspaper be is published in such county,
then in a newspaper of general circulation therein and by putting up
an advertisement upon the courthouse door and in five ot her public
places in such county, two of which shall be in the township where
such lands and tenements lie; provided, that in counties now having
a population of one hundred ten thousand (110,000) or more according
to the last Federal Decennial Census, the advertisement shall be
published in some newspaper published in the city or township where
said such lands and tenements lie , or if there be is no newspaper in
such city or township , then in some newspaper published in the
county. Notice shall be execute d by the sheriff and state the name
of any person having an interest in the property to be sol d whose
interest is sought to be extinguished and whose actual address is
unknown, and shall designate the person or persons whose unknown
successors are being no tified; and
3. Files in the case an affidavit of proof of mailing and of
publication or posting.
B. A written notice of sale executed prior to the effective
date of this act November 1, 1987, by the party causing the
execution to be issued but otherwise conforming to the provisions of
this section shall, for all purposes, be deemed valid.
C. Such sale shall not be held less than thirty (30) days after
the date of first publication of the notice required in paragraph 2
of subsection A of this section. If a purchaser other than the
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party causing the execution to be issued, when required by the
sheriff, fails to post cash or certified funds equal to ten percent
(10%) of the amount bid for the property within twenty -four (24)
hours of the sale, excluding Sun days and legal holidays, or
otherwise fails to complete the sale, the sheriff may accept the
next highest bid. Except as otherwise provided for in subsection B
of this section, sales for which the provisions of subsection A of
this section have not been c omplied with shall be set aside on
motion by the court to which the execution is returnable.
D. The sheriff may determine whether the sale provided for in
this section shall utilize an online auction marketplace. All sales
of lands and tenements conducte d by a sheriff utilizing an online
auction marketplace shall be conducted in accordance with t he
provisions of Section 4 of this act.
SECTION 3. AMENDATORY 12 O.S. 2021, Section 765, as
amended by Section 2, Chapter 326, O.S.L. 20 22 (12 O.S. Supp. 2024,
Section 765), is amended to read as follows:
Section 765. A. Upon the return of any writ of execution for
the satisfaction of which any lands or tenements have been sold, the
party causing the execution to be issued shall:
1. Cause a written notice of hearing on the confirmation of the
sale to be mailed, by first class first-class mail, postage prepaid,
to all persons to whom mailing of the notice of the execution of
sale was required to be made pursuant to Section 764 of this tit le
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and to the high bidder at such sale, at least ten (10) days before
the hearing on the confirmation of the sale, and if the name or
address of any such person is unknown, shall cause a notice of the
hearing on the confirmation of the sale to be published in a
newspaper authorized by law to publish legal notices in the county
in which the property is situated. If no newspaper authorized by
law to publish legal notices is published in such county, the notice
shall be published in some such newspaper of gen eral circulation
which is published in an adjoining county. The notice shall state
the name of any person being so notified and shall be published once
at least ten (10) days prior to the date of the hearing on the
confirmation of the sale; and
2. Files in the case an affidavit of proof of mailing, and if
required, of publication.
B. Any person filing a written objection to the confirmation of
the sale shall cause a copy of such written objection to be mailed,
prior to the hearing on the confirmation of the sale, by first class
first-class mail, postage prepaid, to all persons to whom mailing of
the notice of the hearing on the confirmation of the sale was
required to be made pursuant to this section. The court may
continue the hearing or make such other orders as are necessary to
allow the interested persons to adequately support or oppose any
such objections to the confirmation of the sale. If the court,
after having carefully examined the proceedings of the officer, is
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satisfied that the sale has, in all respects, been made in
conformity with the provisions of this article section, the court
shall direct the clerk to make an entry on the journal that the
court is satisfied of the legality of such sale and shall order that
the officer make to the purcha ser a deed for such lands and
tenements; and the officer, on making such sale, shall deposit t he
purchase money with the clerk of the court from which said the writ
of execution issued, where same shall remain until the court shall
have examined his or her proceedings as aforesaid, when said the
clerk of the court shall pay the same to the person entitled
thereto, agreeable to the order of the court. In the case of a sale
by a sheriff conducted through an online auction marketplace, the
online auction marketplace may collect and hold deposits and
additional purchase money payments up to the full am ount of the
winning bid, settle the transaction, and then remit payment of the
purchase money to the court clerk as directed by the sheriff or the
court. Any No buyer’s premium shall be charged to a buyer for
online auction marketplace services rendered to the buyer shall not
be considered purchase price provided that the buyer ’s premium is
disclosed in advance in the listing on any sale.
SECTION 4. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 776 of Title 12, unless there is
created a duplication in numbering, reads as follows:
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A. In accordance with the provisions of Section 751 et seq. of
Title 12 of the Oklahoma Statutes, sheriffs may conduct the sale of
goods, chattels, or lands and tenements utilizing an online auction
marketplace.
B. No sheriff or other officer conducting the sale of property
or any appraiser or online auction marketplace, including any
affiliation with a corporation, limited liability company, or
partnership, shall either di rectly or indirectly purchase the
property; any such purchase shall be considered fraudulent and void.
The prohibition of this subsection shall also apply to tho se related
by affinity or consanguinity within the third degree. If the
appraiser or online auction marketplace is a corporation, limited
liability company, limited liability partnership, or partnership,
such prohibition shall apply to any director, offic er, employee,
managing member, or partner of such appraiser or online auction
marketplace.
C. If an online marketplace is used pursuant to this section,
the vendor shall provide a nonelectronic option for bidders.
D. The online auction vendor may require bidders to agree to
reasonable terms of service or use. Any such terms of service or
use shall provide that the terms of service or use are subject to
the laws and jurisdiction of this state.
E. The online auction marketplace may collect deposits and
payments by wire transfer, electronic funds transfer, or cashier ’s
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check from a registered bidde r; settle the transaction ; and remit
payment of the purchase price to the court clerk as directed by the
sheriff.
F. In accordance with the provisions of Section 765 of Title 12
of the Oklahoma Statutes, no buyer ’s premium shall be charged to a
buyer on any sale conducted by a sheriff or other officer utilizing
an online auction marketplace. The fee charged and all costs
incurred by the online auction marketplace shall be assessed as
costs not to exceed Four Hundred Twenty -five Dollars ($425.00) per
sale.
SECTION 5. It being immediately necessary for the preservation
of the public peace, health or safety, an emergency is hereby
declared to exist, by reason whereof this act shall take effect and
be in full force from and after its passage and approval.
COMMITTEE REPORT BY: COMMITTEE ON BUSINESS AND INSURANCE
February 27, 2025 - DO PASS AS AMENDED BY CS