§47-1146.

§47-1146.
   
   A. Before April 1 of each year and as of the last day of operation of
   an agent, all motor license agents shall file with the State Auditor
   and Inspector and the Oklahoma Tax Commission a complete financial
   statement and inventory on a form prescribed by the State Auditor and
   Inspector covering all expenses and disbursements out of all taxes and
   fees collected by such agents during the preceding calendar year or
   during the current calendar year through the last day of operation of
   the agent. The Commission shall audit all motor license agents at
   least once during each calendar year and shall have the power to
   require any changes it deems necessary in the operation of motor
   license agents. The Commission shall issue such rules as it deems
   necessary for the proper control of all fiscal matters involving motor
   license agents.
   
   B. No person employed in the office of a motor license agent
   performing duties imposed by law upon such office shall receive a
   salary that exceeds seventy percent (70%) of the maximum annual
   compensation designated by law for the motor license agent provided,
   however, any such employee who has been so employed in excess of five
   (5) years may be compensated by an additional five percent (5%) of
   such maximum annual compensation for each year in excess of five (5)
   years employment not exceeding a total of twenty-five percent (25%).
   The provisions of this subsection shall not apply to the Commission.
   
   C. The allowable expenses of a motor license agency shall be the
   ordinary and necessary expenses allowed small businesses pursuant to
   the Federal Internal Revenue Code, 26 U.S.C., Section 1 et seq.
   
   D. The State Auditor and Inspector, annually, shall analyze the
   financial statement and inventory filed by each motor license agent
   pursuant to subsection A of this section. After the analysis, the
   State Auditor and Inspector may, if deemed necessary or advisable,
   require a review of the taxes and fees received and expenditures made
   by an agency, which review shall be made in accordance with auditing
   guidelines prepared by the State Auditor and Inspector and the
   standards established by the American Institute of Certified Public
   Accountants by a licensed public accountant or a certified public
   accountant holding a permit to practice in this state. A copy of the
   review shall be forwarded to the State Auditor and Inspector and the
   Tax Commission. The State Auditor and Inspector and the Tax Commission
   shall evaluate the reviews and may conduct any further audits or
   examinations as deemed necessary. Any review or audit of a motor
   license agency performed by the Oklahoma Tax Commission, the State
   Auditor and Inspector, a licensed public accountant or a certified
   public accountant, pursuant to the provisions of Sections 1140 through
   1147 of this title shall be an open record and shall be made available
   for public inspection at the Oklahoma Tax Commission, notwithstanding
   the provisions of Section 205 of Title 68 of the Oklahoma Statutes.
   
   E. Any motor license agent whose budgeted compensation is the same as
   the maximum amount as provided for in this act, Section 1101 et seq.
   of this title, shall hold all real and personal property leased or
   purchased from the operating expense budget of the agency in trust as
   the property of the agency for use in the operation of the agency and
   for no other purpose and, upon the resignation, removal or death of
   such agent, such property shall be transferred to the successor agent.
   The Commission shall establish a beginning inventory and maintain
   records of all real and personal property leased or owned by each
   motor license agent and shall annually update its records as to any
   interest, whether partial or whole, held by the motor license agent in
   such real and personal property. Upon the appointment of a successor
   agent, the Commission shall have the power to provide for the
   equitable settlement of any issue arising from any partial interests
   involved in such real and personal property. Provided however, that
   the property may be transferred to the Commission to be held or used
   by the Commission until such time as a successor agent is appointed
   and qualified as provided in this act.
   
   F. The following restrictions and requirements shall apply to all
   motor license agents:
   
   1. All purchases in excess of One Thousand Dollars ($1,000.00) made by
   a motor license agent who collects fees in excess of Seventy-five
   Thousand Dollars ($75,000.00) per year shall be identified in each
   review and shall be accompanied by at least (3) quotes or bids showing
   that the purchase was at the lowest price available in the agent's
   local area;
   
   2. No motor license agent shall enter into a lease or sublease, for
   use in a motor license agency or in the conduct of agency business for
   any furniture, equipment, machinery, vehicles or other items from any
   entity in which the agent or any person related to the agent within
   the third degree by consanguinity or affinity has a financial
   interest. Such motor license agent may, however, locate or continue to
   locate a motor license agency in a building owned by said agent or by
   a person related to the agent within the third degree by consanguinity
   or affinity. In such case, the motor license agent shall attach a copy
   of the lease agreement to his annual financial statement and inventory
   and such lease agreement shall become a part thereof; and
   
   3. Any and all records, files, books or otherwise of a motor license
   agent relating to the operation of the motor license agency shall be
   public record which shall be open to public inspection at reasonable
   times, regardless of their location.