Bill > SB1920

This bill increases the percentage of damage to a vehicle that requires its title to be surrendered for a salvage title from sixty percent (60%) to seventy percent (70%) of the vehicle's fair market value, meaning that a vehicle is now considered a total loss and requires a salvage title if the cost to repair it for safe operation on the highway exceeds seventy percent of its value, rather than sixty percent. The bill also updates statutory language and references, including the definition of a "vehicle" to include those within the last ten model years and the preservation of vehicle identification numbers (VINs) electronically by Service Oklahoma, and it specifies an effective date of November 1, 2026.

Business and Industry

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb1920&Session=2600