Home Table of Contents

§ 5063.4c. Security requirements

Oklahoma Statutes AnnotatedTitle 74. State Government

Oklahoma Statutes Annotated
Title 74. State Government (Refs & Annos)
Chapter 70. Department of Commerce (Refs & Annos)
Credit Enhancement Reserve Fund Act
74 Okl.St.Ann. § 5063.4c
§ 5063.4c. Security requirements
Currentness
Except as otherwise provided in Section 6 of this act,1 at the time of loan origination, the Oklahoma Development Finance Authority shall require such security from the applicant as it deems necessary in the circumstances of the insurance commitment. Except for the infrastructure and other publicly owned facilities of governmental entities and Quality Jobs Investment Program portfolio mix categories, such security will include, but not be limited to:
1. A first mortgage or coordinate first mortgage on real property, facilities or systems and fixtures located thereon; or
2. A second mortgage on real property, facilities or systems and fixtures located thereon, provided the amount thereof may not exceed One Million Dollars ($1,000,000.00).

Credits

Laws 1990, c. 342, § 11, emerg. eff. May 30, 1990; Laws 1993, c. 275, § 42, eff. July 1, 1994; Laws 2002, c. 299, § 16, emerg. eff. May 23, 2002.

Footnotes

1
O.S.L.2002, c. 299, § 6 [Title 68, § 3656].
74 Okl. St. Ann. § 5063.4c, OK ST T. 74 § 5063.4c
Current with emergency effective legislation through Chapter 125 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
End of Document