Okla. Stat. tit. 12, § 12-776
This is the official text of Okla. Stat. tit. 12, § 12-776, part of Oklahoma’s Stat. tit. 12, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12,." Browse the sections below, each linked to its official government source.
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Sheriff sale — Online auction
Official statutory text
A. In accordance with the provisions of Section 751 et seq. of
Title 12 of the Oklahoma Statutes, sheriffs may conduct the sale of
goods, chattels, or lands and tenements utilizing an online auction
marketplace.
Oklahoma Statutes - Title 12. Civil Procedure Page 158
B. No sheriff or other officer conducting the sale of property
or any appraiser or online auction marketplace, including any
affiliation with a corporation, limited liability company, limited
liability partnership, partnership, or other business entity, shall
either directly or indirectly purchase the property; any such
purchase shall be considered fraudulent and void. The prohibition
of this subsection shall also apply to those related by affinity or
consanguinity within the third degree. If the appraiser or online
auction marketplace is a corporation, limited liability company,
limited liability partnership, partnership, or other business
entity, such prohibition shall apply to any director, officer,
employee, managing member, or partner of such appraiser or online
auction marketplace.
C. If an online auction marketplace is used pursuant to this
section, the online auction marketplace shall provide a
nonelectronic option for bidders.
D. The online auction marketplace may require bidders to agree
to reasonable terms of service or use. Any such terms of service or
use shall provide that the terms of service or use are subject to
the laws and jurisdiction of this state.
E. The online auction marketplace may collect deposits and
payments by wire transfer, electronic funds transfer, or cashier’s
check from a registered bidder; and remit payment of the purchase
price to the court clerk as directed by the sheriff but in no case
more than five (5) business days following the completion of the
sale.
F. In accordance with the provisions of Section 765 of Title 12
of the Oklahoma Statutes, no buyer’s premium shall be charged to a
buyer on any sale conducted by a sheriff, or other officer,
utilizing an online auction marketplace. The fee charged and all
costs incurred by the online auction marketplace shall be assessed
as costs not to exceed Four Hundred Twenty-five Dollars ($425.00)
per confirmed sale.
Title 12 of the Oklahoma Statutes, sheriffs may conduct the sale of
goods, chattels, or lands and tenements utilizing an online auction
marketplace.
Oklahoma Statutes - Title 12. Civil Procedure Page 158
B. No sheriff or other officer conducting the sale of property
or any appraiser or online auction marketplace, including any
affiliation with a corporation, limited liability company, limited
liability partnership, partnership, or other business entity, shall
either directly or indirectly purchase the property; any such
purchase shall be considered fraudulent and void. The prohibition
of this subsection shall also apply to those related by affinity or
consanguinity within the third degree. If the appraiser or online
auction marketplace is a corporation, limited liability company,
limited liability partnership, partnership, or other business
entity, such prohibition shall apply to any director, officer,
employee, managing member, or partner of such appraiser or online
auction marketplace.
C. If an online auction marketplace is used pursuant to this
section, the online auction marketplace shall provide a
nonelectronic option for bidders.
D. The online auction marketplace may require bidders to agree
to reasonable terms of service or use. Any such terms of service or
use shall provide that the terms of service or use are subject to
the laws and jurisdiction of this state.
E. The online auction marketplace may collect deposits and
payments by wire transfer, electronic funds transfer, or cashier’s
check from a registered bidder; and remit payment of the purchase
price to the court clerk as directed by the sheriff but in no case
more than five (5) business days following the completion of the
sale.
F. In accordance with the provisions of Section 765 of Title 12
of the Oklahoma Statutes, no buyer’s premium shall be charged to a
buyer on any sale conducted by a sheriff, or other officer,
utilizing an online auction marketplace. The fee charged and all
costs incurred by the online auction marketplace shall be assessed
as costs not to exceed Four Hundred Twenty-five Dollars ($425.00)
per confirmed sale.
Status: in_force · Read it on the official government site
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