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