vendors. A. The Oklahoma New Motor Vehicle Commission and the Oklahoma Used Motor Vehicle, Dismantler, and Manufactured Housing Commission shall have the power and duty to promulgate rules and procedures to register authorized temporary license plate vendors in this state. The Commissions may impose a vendor registration fee not to exceed Six Hundred Dollars ($600.00) and a subsequent annual renewal fee not to exceed Six Hundred Dollars ($600.00). B. Oklahoma New Motor Vehicle Commission and the Oklahoma Used Motor Vehicle, Dismantler, and Manufactured Housing Commission vendors shall provide pre-printed temporary license plates, or software services or the equipment and supplies necessary to print temporary license plates to dealers licensed by the Oklahoma New Motor Vehicle Commission and the Oklahoma Used Motor Vehicle, Dismantler, and Manufactured Housing Commission. Vendors may provide the following: 1. Provide a method for such dealers to electronically enter required purchaser information for each vehicle purchase; and 2. Electronically submit such required purchaser information to Service Oklahoma in a manner that protects and meets security requirements promulgated by the Commissions every twenty-four (24) hours in a format that is readily accessible by Service Oklahoma. C. The Commissions shall also be granted the power to revoke the designation and registration of and administer fines and penalties, not to exceed Ten Thousand Dollars ($10,000.00) per occurrence, to registered temporary license plate vendors that fail to comply with the provisions of this section. D. The Commissions shall also be granted the power to require the vendors to do the following: 1. Obtain a Fifty Thousand Dollar ($50,000.00) bond; and 2. Obtain commercial liability insurance with a minimum coverage amount of One Million Dollars ($1,000,000.00). E. Temporary license plates issued by authorized temporary license plate vendors shall be required to include: 1. A sequential three-character prefix, unique to the individual authorized temporary license plate vendor, followed by a five-digit tag number; 2. The name of this state; 3. The name of the vehicle purchaser; 4. The date of expiration; 5. The name of the dealer and the dealer license number; and 6. The year, make, and model of the vehicle. Provided, the name of the vehicle purchaser shall not be required to be included on the temporary license plate if the vendor holds a record of the name of the vehicle purchaser and the bill of sale is carried in the vehicle.
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