Oklahoma § 63-4036 - Used vessels or motors - Expiration of registration - Use

§ 63-4036. Used vessels or motors - Expiration of registration - Use

of demonstration permit - Purchase or transfer of ownership of outof-state used vessel or motor - Application for certificate of title

- Sale or transfer of ownership - Tax stamp - Registration by

purchaser.

A. When a registration expires on a used vessel or motor while

in the possession of a dealer, the dealer shall affix a dealer's

demonstration permit to such vessel or motor whenever the vessel or

motor is used for demonstration.

B. Upon the purchase or transfer of ownership of an out-ofstate used vessel or motor by a dealer, or the purchase or transfer

of ownership of a vessel or motor which does not have a certificate

of title or a certificate of registration the dealer shall make

application for an Oklahoma certificate of title pursuant to the

Oklahoma Vessel and Motor Registration Act, Section 4002 et seq. of

this title. Upon receipt of the Oklahoma certificate of title, the

dealer shall follow the procedure as set forth in subsection A of

this section. Provided, nothing in this title shall be construed as

requiring a dealer to register a vessel or motor purchased in

another state which will not be operated or sold in this state.

C. Upon sale or transfer of ownership of the used vessel or

motor, the dealer shall place upon the reassignment portion of the

certificate of title a tax stamp issued by the county treasurer of

the county in which the dealer has his primary place of business.

The tax stamp shall be issued upon payment of a fee of Three Dollars

and fifty cents ($3.50) and shall be in lieu of the dealer's ad

valorem tax on the inventories of used vessels or motors but shall

not relieve any other property of the dealer from ad valorem

taxation.

D. Upon sale of a used vessel or motor to another licensed

dealer, the selling dealer shall place the tax stamp required in

subsection C of this section upon the certificate of title.

E. The purchaser of every used vessel or motor except as

otherwise provided by law, shall obtain registration and title for

the vessel or motor within thirty (30) calendar days from the date

of purchase of same.

Added by Laws 1989, c. 346, § 36, eff. Nov. 1, 1989. Amended by

Laws 1990, c. 304, § 8, emerg. eff. May 30, 1990; Laws 1992, c. 284,

§ 20, eff. Jan. 1, 1993.