§ 91.3. Definitions
Oklahoma Statutes AnnotatedTitle 62. Public Finance
62 Okl.St.Ann. § 91.3
§ 91.3. Definitions
As used in the Oklahoma Rural and Affordable Housing Linked Deposit Act:
1. “Eligible rural housing developer” means any individual, partnership, domestic limited liability company, or domestic corporation within the State of Oklahoma which is engaged in the construction, building or development of rural housing, as certified by a state agency or instrumentality selected by the State Treasurer to perform a certification process. The certification shall be designed to select developers who will meet new construction needs in designated, underserved rural target markets;
4. “Rural areas” means areas of the state outside of high population centers and already well-developed metropolitan areas, which are not adequately served by existing home builders and developers in meeting supply needs for adequate rural housing. The certifying agency shall be responsible to adopt guidelines to identify the specific rural areas which are not adequately served in meeting supply needs for adequate housing; provided, for purposes of this act,1 a “rural area” shall include a specific geographic area which meets the definition of an “opportunity zone” as the term is defined in paragraph 2 of subsection G of Section 3604 of Title 68 of the Oklahoma Statutes;
5. “Rural housing linked deposit” means a certificate of deposit placed by the State Treasurer with an eligible lending institution or an investment in bonds, notes, debentures, or other obligations or securities issued by the federal farm credit bank with regard to an eligible lending institution for the purpose of carrying out the intent of this act;
Credits
Laws 2002, c. 287, § 3, eff. July 1, 2002; Laws 2003, c. 224, § 15, eff. July 1, 2003.
Footnotes
Title 62, § 91.1 et seq.
62 Okl. St. Ann. § 91.3, OK ST T. 62 § 91.3
Current with emergency effective legislation through Chapter 257 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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