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SB 377

Equipment contracts; modifying definitions; modifying certain prohibited actions; modifying certain consent requirements. Effective date.

2025 Regular Session Introduced by Steve Bashore and 1 co-sponsor

Oklahoma law SB 377 redefines equipment contract terms, restricts certain prohibited actions, and modifies consent requirements, affecting business lease and purchase agreements statewide.

Approved by Governor 04/28/2025
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Bill Summary · SB 377

Legislative bill overview

SB 377 modifies Oklahoma law governing equipment contracts by changing relevant definitions, altering prohibited actions within equipment agreements, and modifying consent requirements for parties involved. The bill was introduced by Senators Steve Bashore and Avery Frix and was signed into law by the Governor on April 28, 2025.

Why is this important

Equipment contracts affect businesses across multiple sectors including agriculture, construction, manufacturing, and transportation. Changes to definitions, prohibited actions, and consent requirements can significantly impact how companies lease or purchase equipment, potentially affecting pricing, dispute resolution, and contractual obligations.

Potential points of contention

  • Lack of specific detail: Without access to the bill's full text, the exact nature of prohibited actions and consent modifications remain unclear, making it difficult to assess which industries or business practices are most affected
  • Definition changes: Alterations to contract definitions could have unintended consequences for existing agreements or create ambiguity in enforcement
  • Consent requirement modifications: Changes to who must consent and under what circumstances could shift bargaining power between equipment manufacturers/lessors and customers, or vice versa

Compiled from official sources — confirm details with the bill’s official record.

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