Okla. Admin. Code § 670:20-39-5

Current through Vol. 42, No. 3, October 15, 2024

Section 670:20-39-5 - Repossession affidavit

(a)Documentation required. An applicant for a repossession title must submit:

(1) The actual or certified copy of the mortgage instrument;

(2) A completed Repossession Affidavit (SOK Form 737);

(3) A copy of the certified letter of notice to other lienholders, if applicable; and

(4) A properly executed lien release.

(b)Approval required. All repossessions must be approved by Service Oklahoma or a licensed operator.

(c)Fees. The mortgagee shall be required to pay statutory repossession and title fees. If the vehicle is not currently registered, the mortgagee shall be issued an initial license plate or decal bearing an expiration date of the month of repossession.

Okla. Admin. Code § 670:20-39-5

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