{"data":{"id":"us-ok/okla.-stat.-tit.-47-47-1143.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 47, § 47-1143.1","heading":"Oklahoma Motor License Agent Indemnity Fund - Oklahoma","body":"Licensed Operator Indemnity Fund.\n\nA. 1. There is hereby created the Oklahoma Motor License Agent\n\nIndemnity Fund. The fund shall be a continuing fund, not subject to\n\nfiscal year limitations, and shall consist of annual assessments\n\nlevied on licensed operators. All monies accruing to the credit of\n\nthe funds are hereby appropriated and may be expended, in amounts\n\nand as authorized by the Legislature, by the Office of Management\n\nand Enterprise Services. The purpose of the fund is to ensure that\n\nService Oklahoma recovers tax revenue and the Corporation Commission\n\nrecovers apportioned vehicle registration fees, not remitted to\n\neither because of negligence, malfeasance or fraud by a licensed\n\noperator. In addition, claims arising from licensed operator errors\n\nand omissions may be paid from monies in the fund in excess of Five\n\nHundred Thousand Dollars ($500,000.00). Upon final determination by\n\nService Oklahoma of a tax revenue shortage or liability of a\n\nlicensed operator whose Service Oklahoma location has been closed,\n\nor by the Corporation Commission of apportioned vehicle registration\n\nfee shortage, a claim in the amount of such liability may be made by\n\neither Service Oklahoma or the Corporation Commission against the\n\nfund. The claim shall be paid out of the fund by the Office of\n\nManagement and Enterprise Services. At least sixty (60) days'\n\nwritten notice shall be given to the delinquent licensed operator\n\nbefore any such claim is paid. The Office shall have the power to\n\nseek restitution to the fund from any licensed operator whose\n\nliability was paid out of the fund. The monies in the fund shall be\n\ninvested by the State Treasurer and the interest shall be deposited\n\nin the fund. Beginning January 1, 2023, all funds to be deposited\n\nin the Oklahoma Motor License Agent Indemnity Fund shall be\n\ndeposited in the Oklahoma Licensed Operator Indemnity Fund.\n\n2. There is hereby created the Oklahoma Licensed Operator\n\nIndemnity Fund. The fund shall be a continuing fund, not subject to\n\nfiscal year limitations, and shall consist of annual assessments\n\nlevied on licensed operators. Beginning January 1, 2023, all monies\n\naccruing to the credit of the fund are hereby appropriated and may\n\nbe expended in amounts and as authorized by the Legislature and by\n\nthe Office of Management and Enterprise Services. The purpose of\n\nthe fund is to ensure that Service Oklahoma recovers revenue fees\n\nnot remitted to it because of negligence, malfeasance, or fraud by a\n\nlicensed operator. In addition, claims arising from licensed\n\noperator errors and omissions may be paid from monies in the fund in\n\nexcess of Five Hundred Thousand Dollars ($500,000.00). Upon final\n\ndetermination by Service Oklahoma of a tax revenue shortage or\n\nliability of a licensed operator whose Service Oklahoma location has\n\nbeen closed, or by the Corporation Commission of apportioned vehicle\n\nregistration fee shortage, a claim in the amount of such liability\n\nmay be made by either Service Oklahoma or the Corporation Commission\n\nagainst the fund. The claim shall be paid out of the fund by the\n\nOffice of Management and Enterprise Services. At least sixty (60)\n\ndays' written notice shall be given to the delinquent licensed\n\noperator before any such claim is paid. The Office of Management\n\nand Enterprise Services shall have the power to seek restitution to\n\nthe fund from any licensed operator whose liability was paid out of\n\nthe fund. The monies in the fund shall be invested by the State\n\nTreasurer and the interest shall be deposited in the fund.\n\nB. Each fiscal year, the Office of Management and Enterprise\n\nServices shall collect and deposit into the fund an annual\n\nassessment from all licensed operators that have been operating for\n\na period of not less than one (1) year. Such assessments shall be\n\npayable by each licensed operator on a quarterly basis. The amount\nd by the State\n\nTreasurer and the interest shall be deposited in the fund.\n\nB. Each fiscal year, the Office of Management and Enterprise\n\nServices shall collect and deposit into the fund an annual\n\nassessment from all licensed operators that have been operating for\n\na period of not less than one (1) year. Such assessments shall be\n\npayable by each licensed operator on a quarterly basis. The amount\n\non which the assessment shall be based shall be determined annually\n\nfor each licensed operator by Service Oklahoma by dividing the\n\nvolume of tax monies collected each fiscal year by the licensed\n\noperator by the number of reporting periods required by Service\n\nOklahoma. The assessments shall be in the following amounts:\n\n1. Each licensed operator which has been in operation for more\n\nthan three (3) years and subject to the assessment pursuant to this\n\nsubsection shall pay such assessment as follows:\n\na. when the fund contains less than Five Hundred Thousand\n\nDollars ($500,000.00) on June 30 of any year, the\n\nassessment shall be one percent (1%) of the amount\n\ndetermined for the licensed operator by Service\n\nOklahoma, and\n\nb. when the fund contains Five Hundred Thousand Dollars\n\n($500,000.00) or more on June 30 of any year, Service\n\nOklahoma shall reduce or suspend the assessment for\n\nsuch licensed operators if Service Oklahoma determines\n\nthat the fund is fiscally sound and meets the needs\n\nfor which the fund is established.\n\nProvided, however, if the fund contains less than Five Hundred\n\nThousand Dollars ($500,000.00) at any time during the fiscal year\n\nfor which Service Oklahoma has reduced or suspended the assessment\n\nhereunder, Service Oklahoma shall immediately issue an assessment\n\npursuant to subparagraph a of this paragraph in an amount equal to\n\nthe amount which would have been paid during the remaining quarters\n\nof the fiscal year; and\n\n2. Each licensed operator which has been in operation for less\n\nthan three (3) years but more than one (1) year shall pay the\n\nassessment in an amount equal to one percent (1%) of the amount\n\ndetermined for the licensed operator by Service Oklahoma until the\n\nlicensed operator reaches the end of its third year of operation.\n\nAt such time, such licensed operator shall be subject to the\n\nassessment specified in subparagraph a of paragraph 1 of this\n\nsubsection.\n\nC. Any assessments required by subsection B of this section,\n\nshall be paid in quarterly amounts and due on September 30, December\n\n30, March 30 and June 30 of each year. Such payments shall be\n\ndeemed delinquent after October 15, January 15, April 15 and July 15\n\nof each year. Licensed operators who are delinquent in remitting\n\nany quarterly payment for their operating Service Oklahoma locations\n\nin excess of fifteen (15) days after the date of the delinquency\n\nshall be subject to dismissal.\n\nD. No annual assessment shall exceed One Thousand Two Hundred\n\nDollars ($1,200.00).","path":["OK Code","Title 47"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os47.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"0787cd15645d03d2421eac8737a2b21d000bde6dda521eeb2a3c85be915e06f9","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-47-47-1143","next":"us-ok/okla.-stat.-tit.-47-47-1143.2"},"notice":"GroundRules: Original legal text. Not legal advice."}