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§ 40-115. Eminent domain--Lien foreclosure

Oklahoma Statutes AnnotatedTitle 11. Cities and Towns

Oklahoma Statutes Annotated
Title 11. Cities and Towns (Refs & Annos)
Chapter 1. Municipal Code (Refs & Annos)
Municipal Departments and Services
Article XL. Neighborhood Redevelopment Act
11 Okl.St.Ann. § 40-115
§ 40-115. Eminent domain--Lien foreclosure
A. A redevelopment trust shall have the right to acquire by the exercise of the power of eminent domain any real property in fee simple or other estate which is necessary to accomplish the purposes of this act,1 when so approved by the governing body.
B. A redevelopment trust may exercise the power of eminent domain in the manner provided in Sections 9 through 14 of Title 27 of the Oklahoma Statutes; or it may exercise the power of eminent domain in the manner provided by any other applicable statutory provision for the exercise of the power of eminent domain. Property already devoted to a public use may be acquired in like manner, provided that no real property belonging to any city, county, public trust or the state or any political subdivision thereof may be acquired without its consent.
C. In the event of the sale or other disposition of real property of any redevelopment trust by reason of the foreclosure of any mortgage or other lien, through insolvency or bankruptcy proceedings, by order of any court of competent jurisdiction, by voluntary transfer or otherwise, the purchaser of such real property of such redevelopment trust shall continue to use, operate and maintain such real property in accordance with the provisions of any project plan.

Credits

Laws 1981, c. 315, § 15; Laws 1998, c. 247, § 11, eff. Nov. 1, 1998.

Footnotes

Title 11, § 40-101 et seq.
11 Okl. St. Ann. § 40-115, OK ST T. 11 § 40-115
Current with emergency effective legislation through Chapter 378 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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