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SENATE FLOOR VERSION
April 6, 2021
COMMITTEE SUBSTITUTE
FOR ENGROSSED
HOUSE BILL NO. 1497 By: McCall, Hilbert, Roberts
(Dustin), Wallace, Bashore,
West (Kevin) and Boles of
the House
and
Bullard of the Senate
An Act relating to property; amending 60 O.S. 2011,
Sections 121 and 122, which relate to alien ownership
of land; prohibiting certain ownership of land
through business entity or trust ; requiring certain
companies to inform Attor ney General or district
attorney of potential sale; requiring pause of
certain transactions pending investigat ion; allowing
resumption of certain transactions upon approval;
requiring termination of certain transactions;
modifying exception to certain ownership
requirements; making language gender-neutral;
updating statutory reference; and providing an
effective date.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 60 O.S. 2011, Section 121, is
amended to read as follows:
Section 121. No alien or any person who is not a citizen of the
United States shall acquire title to or own land in the State of
Oklahoma this state either directly or indirectly through a business
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entity or trust, except as hereinafter provided, but he or she shall
have and enjoy in the State of Oklahoma this state such rights as to
personal property as are, or shall be accorded a citizen of the
United States under the laws of the nation to which such alien
belongs, or by the treaties of such nation with the United States,
except as the same may be affected by the provisions of this act
Section 121 et seq. of this title or the Constitution of this state.
Any abstract company, closing company or title company with reason
to believe that a client is attempting to purchase lan d in this
state in violation of the provisions of this article shall inform
the Attorney General or the district attorney of the county where
the land is located and shall pause the transaction for the duration
of the investigation of the Attor ney General or district attorney.
Upon completion of an investigation, a transaction for sale of the
property may be resumed upon approval of the Attorney General or
district attorney. If the Attorney General or district attorney
determines that the sale of the property would violate the
provisions of this article, the trans action shall be terminated .
SECTION 2. AMENDATORY 60 O.S. 2011, Section 122, is
amended to read as follows:
Section 122. This article shall not ap ply to lands now owned in
this state by aliens so long as they are held by the present owners,
nor to any alien who is or shall take up bona fide residence in this
state: and; provided, that any alien who is or shall become a b ona
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fide resident of the Stat e of Oklahoma, or any lawfully recognized
business entity, the majority of the voting stock or equivalent
controlling equity in terest of which is owned by one or more
resident aliens, shall have the right to acquire and hold la nds in
this state upon the sa me terms as citizens of the State of Oklahoma
during the continuance of such bona fide residence of such alien in
this state: Provided, that if any such resident alien shall cease
to be a bona fide inhabitant of this state, such a lien shall have
five (5) years from the time he or she ceased to be such bona fide
resident in which to alienate such lands.
SECTION 3. This act shall become effective November 1, 2021.
COMMITTEE REPORT BY: COMMITTEE ON JUDICIARY
April 6, 2021 - DO PASS AS AMENDED