ENGR. S. B. NO. 877 Page 1 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
ENGROSSED SENATE
BILL NO. 877 By: Bullard and Hamilton of the
Senate
and
Maynard of the House
An Act relating to deed regulation; amending 59 O.S.
2021, Sections 858-307.2 and 858-351, which relate to
real estate licensing ; requiring certain co ntinuing
education course; expanding application of certain
definitions; defining term; updating statutory
language; requiring certain notification to buyer;
requiring the Oklahoma Real Estate Commission to
promulgate certain rules; providing for codificat ion;
and providing an effective date.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 59 O.S. 2021, Section 858 -307.2,
is amended to read as follows:
Section 858-307.2. A. Beginning November 1, 200 4, as a
condition of renewal or reactivation of the a real estate license,
each licensee with the exception of those exempt as set out in this
section shall submit to the Oklahoma Real Estate Commission evidence
of completion of a specified number of hours of continuing education
courses approved by the Commission, within the thirty -six (36)
months immediately preceding the term for which the license is to be
issued. The number of hours, or its equivalent, required for each
licensed term shall be determine d by the Commission and promulgated
ENGR. S. B. NO. 877 Page 2 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
by rule. Each licensee shall be required to complete and include as
part of said such continuing education a certain number of required
subjects as prescribed by rule.
B. The continuing education courses required by th is section
shall be satisfied by cour ses approved by the Commission and offered
by:
1. The Commission;
2. A technology center school;
3. A college or university;
4. A private school;
5. The Oklahoma Association of Realtors, the National
Association of Realtors, or any affiliate thereof;
6. The Oklahoma Bar Association, American Bar Association, or
any affiliate thereof; or
7. An education provider.
C. The Commission shall maintain a list of courses which are
approved by the Commission.
D. The Commission shall not issue an active renew al license or
reactivate a license unless the continuing education requirement set
forth in this section is satisfied within the prescribed time
period.
E. The provisions of this section do not apply:
1. During the period a license is on inactive status;
ENGR. S. B. NO. 877 Page 3 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
2. To a licensee who holds a provisional sales associate
license;
3. To a nonresident licensee licensed in this state if the
licensee maintains a current license in another state or states and
has satisfied the conti nuing education requirement for licen se
renewal in that state or states. If the nonresident licensee is
exempt from the continuing education requirements in all states
where the nonresident holds a license, the nonresident licensee
shall successfully comp lete this state’s continuing education
requirement for license renewal or reactivation; or
4. To a corporation, association, partnership , or branch
office.
F. The Commission shall require each licensee to receive a
specified number of hours of continuing education courses on deed
theft, as defined in Section 858-351 of this title. Each licensee
shall be required to complete such continuing education on or before
November 1, 2028.
SECTION 2. AMENDATORY 59 O.S. 2021, Section 858 -351, is
amended to read as follows:
Section 858-351. Unless the context clearly indicates
otherwise, as used in Sections 858 -351 through 858-363 of The
Oklahoma Real Estate License Code and Section 3 of this act:
ENGR. S. B. NO. 877 Page 4 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
1. “Broker” means a real estate broker, an associated broker
associate, sales associate, or provisional sales associate
authorized by a real estate broker to provide brokerage services;
2. “Brokerage services” means those services provided by a
broker to a party in a transaction;
3. “Deed theft” means to:
a. intentionally alter, falsify, forge, or misrepresent
property documents such as a residential or commercial
deed or title, with the intent to deceive, defraud, or
unlawfully transfer or encumber the ownership rights
of a residential or commer cial property,
b. misrepresent oneself as the owner or authorized
representative of residential or commercial real
property in order to obtain ownership or possession of
such real property, or
c. with intent to defraud , take, obtain, steal, or
transfer title or ownership of real property by fraud,
forgery, larceny, or any other fraudulent or deceptive
practice;
4. “Firm” means a sole proprietor, corporation, association, or
partnership;
5. “Party” means a person who is a seller, buyer, landlord, or
tenant or a person who is involved in an op tion or exchange; and
ENGR. S. B. NO. 877 Page 5 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
4. 6. “Transaction” means an activity or process to buy, sell,
lease, rent, option, or exchange real estate. Such activities or
processes may include, without limitation, soliciting, advertising,
showing, or viewing real property, presenting offers or
counteroffers, entering into agreements , and closing such
agreements; and
5. “Firm” means a sole proprietor, corporation, association or
partnership.
SECTION 3. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 858 -364 of Title 59, unless
there is created a duplication in numbering, reads as follows:
As part of each closing of a transaction, notification o f the
signs and risks of deed theft, as de fined in Section 2 of this act,
shall be required to be given to the buyer by a licensed real estate
broker. The buyer shall confirm receipt of such notification by
affixing his or her signature to such notification. The Oklahoma
Real Estate Commission s hall promulgate rules to enact the
provisions of this section.
SECTION 4. This act shall become effective November 1, 2025.
ENGR. S. B. NO. 877 Page 6 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
Passed the Senate the 27th day of March, 2025.
Presiding Officer of the Senate
Passed the House of Represent atives the ____ day of __________,
2025.
Presiding Officer of the House
of Representatives