Oklahoma 2023 Regular Session

Oklahoma Senate Bill SB795 Compare Versions

Only one version of the bill is available at this time.

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53	53	STATE OF OKLAHOMA
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55	55	1st Session of the 59th Legislature (2023)
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57	57	SENATE BILL 795 By: Montgomery
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61	61	AS INTRODUCED
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63	63	An Act relating to Uniform Consumer Credit Code;
64	64	prohibiting the sale of mortgages without notice and
65	65	affirmation of payment of all outstanding balances;
66	66	providing for codification ; and providing an
67	67	effective date.
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71	71	BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
72	72	SECTION 1. NEW LAW A new section of law to be codified
73	73	in the Oklahoma Statutes as Sect ion 3-309.6 of Title 14A, unless
74	74	there is created a duplication in numbering, reads as fol lows:
75	75	In addition to other disclosures required in Title 14A of the
76	76	Oklahoma Statutes, a servicer of a mortgage loa n shall not sell a
77	77	mortgage loan to another servicer of a mortgage loan without
78	78	confirmation of receipt from the covered person of such sale and the
79	79	creditor affirms that all outs tanding balances to the creditor have
80	80	been paid.
81	81	SECTION 2. This act shall become effective November 1, 2023.
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83	83	59-1-496 MR 1/18/2023 9:16:50 PM