Oklahoma § 47-1143.1 - Oklahoma Motor License Agent Indemnity Fund - Oklahoma

§ 47-1143.1. Oklahoma Motor License Agent Indemnity Fund - Oklahoma

Licensed Operator Indemnity Fund.

A. 1. There is hereby created the Oklahoma Motor License Agent

Indemnity Fund. The fund shall be a continuing fund, not subject to

fiscal year limitations, and shall consist of annual assessments

levied on licensed operators. All monies accruing to the credit of

the funds are hereby appropriated and may be expended, in amounts

and as authorized by the Legislature, by the Office of Management

and Enterprise Services. The purpose of the fund is to ensure that

Service Oklahoma recovers tax revenue and the Corporation Commission

recovers apportioned vehicle registration fees, not remitted to

either because of negligence, malfeasance or fraud by a licensed

operator. In addition, claims arising from licensed operator errors

and omissions may be paid from monies in the fund in excess of Five

Hundred Thousand Dollars ($500,000.00). Upon final determination by

Service Oklahoma of a tax revenue shortage or liability of a

licensed operator whose Service Oklahoma location has been closed,

or by the Corporation Commission of apportioned vehicle registration

fee shortage, a claim in the amount of such liability may be made by

either Service Oklahoma or the Corporation Commission against the

fund. The claim shall be paid out of the fund by the Office of

Management and Enterprise Services. At least sixty (60) days'

written notice shall be given to the delinquent licensed operator

before any such claim is paid. The Office shall have the power to

seek restitution to the fund from any licensed operator whose

liability was paid out of the fund. The monies in the fund shall be

invested by the State Treasurer and the interest shall be deposited

in the fund. Beginning January 1, 2023, all funds to be deposited

in the Oklahoma Motor License Agent Indemnity Fund shall be

deposited in the Oklahoma Licensed Operator Indemnity Fund.

2. There is hereby created the Oklahoma Licensed Operator

Indemnity Fund. The fund shall be a continuing fund, not subject to

fiscal year limitations, and shall consist of annual assessments

levied on licensed operators. Beginning January 1, 2023, all monies

accruing to the credit of the fund are hereby appropriated and may

be expended in amounts and as authorized by the Legislature and by

the Office of Management and Enterprise Services. The purpose of

the fund is to ensure that Service Oklahoma recovers revenue fees

not remitted to it because of negligence, malfeasance, or fraud by a

licensed operator. In addition, claims arising from licensed

operator errors and omissions may be paid from monies in the fund in

excess of Five Hundred Thousand Dollars ($500,000.00). Upon final

determination by Service Oklahoma of a tax revenue shortage or

liability of a licensed operator whose Service Oklahoma location has

been closed, or by the Corporation Commission of apportioned vehicle

registration fee shortage, a claim in the amount of such liability

may be made by either Service Oklahoma or the Corporation Commission

Oklahoma Statutes - Title 47. Motor Vehicles

against the fund. The claim shall be paid out of the fund by the

Office of Management and Enterprise Services. At least sixty (60)

days' written notice shall be given to the delinquent licensed

operator before any such claim is paid. The Office of Management

and Enterprise Services shall have the power to seek restitution to

the fund from any licensed operator whose liability was paid out of

the fund. The monies in the fund shall be invested by the State

Treasurer and the interest shall be deposited in the fund.

B. Each fiscal year, the Office of Management and Enterprise

Services shall collect and deposit into the fund an annual

assessment from all licensed operators that have been operating for

a period of not less than one (1) year. Such assessments shall be

payable by each licensed operator on a quarterly basis. The amount

on which the assessment shall be based shall be determined annually

for each licensed operator by Service Oklahoma by dividing the

volume of tax monies collected each fiscal year by the licensed

operator by the number of reporting periods required by Service

Oklahoma. The assessments shall be in the following amounts:

1. Each licensed operator which has been in operation for more

than three (3) years and subject to the assessment pursuant to this

subsection shall pay such assessment as follows:

a.

when the fund contains less than Five Hundred Thousand

Dollars ($500,000.00) on June 30 of any year, the

assessment shall be one percent (1%) of the amount

determined for the licensed operator by Service

Oklahoma, and

b.

when the fund contains Five Hundred Thousand Dollars

($500,000.00) or more on June 30 of any year, Service

Oklahoma shall reduce or suspend the assessment for

such licensed operators if Service Oklahoma determines

that the fund is fiscally sound and meets the needs

for which the fund is established.

Provided, however, if the fund contains less than Five Hundred

Thousand Dollars ($500,000.00) at any time during the fiscal year

for which Service Oklahoma has reduced or suspended the assessment

hereunder, Service Oklahoma shall immediately issue an assessment

pursuant to subparagraph a of this paragraph in an amount equal to

the amount which would have been paid during the remaining quarters

of the fiscal year; and

2. Each licensed operator which has been in operation for less

than three (3) years but more than one (1) year shall pay the

assessment in an amount equal to one percent (1%) of the amount

determined for the licensed operator by Service Oklahoma until the

licensed operator reaches the end of its third year of operation.

At such time, such licensed operator shall be subject to the

assessment specified in subparagraph a of paragraph 1 of this

subsection.

Oklahoma Statutes - Title 47. Motor Vehicles

C. Any assessments required by subsection B of this section,

shall be paid in quarterly amounts and due on September 30, December

30, March 30 and June 30 of each year. Such payments shall be

deemed delinquent after October 15, January 15, April 15 and July 15

of each year. Licensed operators who are delinquent in remitting

any quarterly payment for their operating Service Oklahoma locations

in excess of fifteen (15) days after the date of the delinquency

shall be subject to dismissal.

D. No annual assessment shall exceed One Thousand Two Hundred

Dollars ($1,200.00).

Added by Laws 1987, c. 158, § 3, emerg. eff. June 25, 1987. Amended

by Laws 1991, c. 169, § 1, eff. July 1, 1991; Laws 1994, c. 329, §

11, eff. July 1, 1994; Laws 1996, c. 312, § 1, eff. Sept. 1, 1996;

Laws 1998, c. 78, § 1, emerg. eff. April 8, 1998; Laws 2008, c. 168,

§ 7, emerg. eff. May 12, 2008; Laws 2012, c. 304, § 203; Laws 2022,

c. 282, § 181, emerg. eff. May 19, 2022.