Online auctions; prohibiting charging of buyer's premium; requiring certain nonelectric option for certain bidders; authorizing certain use of online auction marketplace. Emergency.
SB 974 prohibits online auction marketplaces from charging a "buyer's premium" (an extra fee on top of winning bids) for property sold at sheriff's sales. It requires specific online notice details, including the auction website URL and bid times, and allows electronic payments like wire transfers for registered bidders. The bill directly affects sheriffs, court clerks, and online auction platforms handling property sales ordered through court judgments. It updates existing Oklahoma law to clarify notice requirements and payment methods for online sheriff's sales while banning certain individuals (like auction staff) from purchasing items themselves.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2025
Committee Review
Floor Vote
Governor
Introduced Feb 3, 2025
Last action Mar 4, 2025
Maddy AI version diff · 2 comparisons
What changed between versions
Committee Substitute
→
Floor (Senate)
·
2 edits
MINOR
The bill was revised from a Committee Substitute version to the Senate Floor version, primarily updating the bill title to reflect Senate sponsors (Weaver and Guthrie) and changing the header from 'Committee Substitute' to 'Senate Floor Version' dated February 27, 2025. The substantive legislative text regarding online auction regulations for sheriff's sales appears unchanged in the provided excerpt, though the formatting and page numbering were reorganized for floor consideration.
TECHNICAL
Updated bill header and version designation from 'Committee Substitute' to 'Senate Floor Version' with new date and sponsor attribution.
Reorganized page numbering and formatting to reflect Senate Floor processing rather than committee markup.
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
7
Key actions
1
Committee
1
Feb 27, 2025
Upper · Passed
Reported Do Pass, amended by committee substitute Business and Insurance committee; CR filed
upper
Feb 3, 2025
Introduced
First Reading
upper
2 primary · 0 co-sponsors
Sponsors
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