Okla. Stat. tit. 59, § 59-858-601

of funds - Eligibility to recover.

A. There is hereby created in the State Treasury a revolving

fund for the Oklahoma Real Estate Commission to be designated

"Oklahoma Real Estate Education and Recovery Fund". The fund shall

consist of monies received by the Oklahoma Real Estate Commission as

fees assessed for the Oklahoma Real Estate Education and Recovery

Fund under the provisions of this act. The revolving fund shall be

a continuing fund not subject to fiscal year limitations and shall

be under the administrative direction of the Oklahoma Real Estate

Commission. The Oklahoma Real Estate Commission may invest all or

part of the monies of the fund in securities offered through the

"Oklahoma State Treasurer's Cash Management Program". Any interest

or dividends accruing from the securities and any monies generated

at the time of redemption of the securities shall be deposited in

the Oklahoma Real Estate Education and Recovery Fund. All monies

accruing to the credit of the fund are hereby appropriated and may

be budgeted and expended by the Oklahoma Real Estate Commission for

the purposes specified in Section 858-605 of this title.

Expenditures from said fund shall be made pursuant to the laws of

this state and the statutes relating to the said Commission, and

without legislative appropriation. Warrants for expenditures from

said fund shall be drawn by the State Treasurer, based on claims

signed by an authorized employee or employees of the said Commission

and approved for payment by the Director of the Office of Management

and Enterprise Services.

B. Monies in the fund shall be used to reimburse any claimant

who has been awarded a judgment, subject to subsection C of this

section, by a court of competent jurisdiction to have suffered

monetary damages by an Oklahoma real estate licensee in any

transaction for which a license is required under The Oklahoma Real

Estate License Code because of an act constituting a violation of

The Oklahoma Real Estate License Code.

C. In determining a claimant's eligibility to recover from the

fund, the Commission may conduct an independent review of the

merits, findings and damages involved in the underlying action and

may conduct an evidentiary hearing to determine if a claim is

eligible for recovery from the fund and the amount of damages

awarded are due an act constituting a violation of The Oklahoma Real

Estate License Code.