Report on transfer of legal ownership of aircraft - Cancellation or suspension of license

Service Oklahoma shall require every person licensed as a dealer in aircraft pursuant to the provisions of Sections 251 through 257 of Title 3 of the Oklahoma Statutes to make a report to Service Oklahoma within a period of thirty (30) days after the transfer by such person of the legal ownership of any aircraft. The report shall be made on a form prescribed and furnished by Service Oklahoma, showing the name and address of the purchaser, a description of the aircraft including the name of the manufacturer, the Federal Aviation Administration registration number of the aircraft, the type and year manufactured, the serial number, the date of the transfer, whether the aircraft is exempt from the aircraft excise tax pursuant to Section 6003 of this title, and the amount of the sale price. Service Oklahoma may cancel or suspend the license of any person licensed as a dealer in aircraft pursuant to the provisions of Sections 251 through 257 of Title 3 of the Oklahoma Statutes who shall fail or refuse to comply with the provisions of Sections 6001 through 6007 of this title.