Oklahoma § 74-152.11 - Bill of sale or invoice – Records - Violation

§ 74-152.11. Bill of sale or invoice – Records - Violation

A. Before purchasing or acquiring pipeline equipment, oil field

equipment or used materials, a dealer, broker, or peddler shall

require that a bill of sale or invoice for the used materials be

executed by the seller or the person who acquires the pipeline

equipment, oil field equipment or used materials. The dealer,

broker, or peddler shall keep a copy of each bill of sale or invoice

at the place of business of the dealer, broker or peddler.

B. The bill of sale or invoice shall include:

1. The name and address of the dealer, broker, or peddler;

2. The serial or other identifying number of the pipeline

equipment, oil field equipment or used materials, if available;

3. The kind, make, size, weight, length, and quantity of the

pipeline equipment, oil field equipment or used materials purchased

or acquired;

4. The date of the purchase or acquisition, if different from

the date of the bill of sale or invoice;

Oklahoma Statutes - Title 74. State Government

5. The name and address of the seller; and

6. The legal description and well name or physical address of

the property at the time purchased or acquired.

C. A dealer, broker or peddler shall keep at the place of

business of the dealer, broker or peddler all records required to be

kept pursuant to this section for two (2) years after the date of

the purchase or acquisition of the materials.

D. A person, dealer, peddler or broker who violates the

provisions of this section shall, upon conviction, be punished by a

fine of not less than Five Hundred Dollars ($500.00) for each

violation.

Added by Laws 2008, c. 364, § 6, eff. Jan. 1, 2009.