Oklahoma Vehicle License and Registration Act; modifying provisions related to transfer of title. Effective date.

SB 565 modifies Oklahoma's vehicle title transfer rules for security interests (like car loans). It requires lenders to submit lien documents to the Tax Commission or a motor license agent within 25 days of a loan, adding a $10 fee for recording the lien. The bill mandates clear marking of lien dates on titles and prohibits transferring a vehicle title until a lien is satisfied, except in specific cases like loan agreement transfers or death. This directly affects vehicle owners, lenders, and motor license agents by changing how car loan liens are documented and enforced.