Okla. Stat. tit. 68, § 68-1906
This is the official text of Okla. Stat. tit. 68, § 68-1906, part of Oklahoma’s Stat. tit. 68, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 68,." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Mortgages for indefinite amounts - Procedure
Official statutory text
If the principal indebtedness secured or which by any
contingency may be secured by a mortgage is not determinable from
the terms of the mortgage, or if a mortgage is given to secure the
performance by the mortgagor, or of any other person of a contract
obligation other than the payment of a specific sum of money and the
maximum amount secured or which by any contingency may be secured by
the mortgage is not expressed therein, such mortgage shall be
taxable upon the value of the property covered by the mortgage,
which shall be determined by the county treasurer to whom such
mortgage is presented for taxation, unless at the time of presenting
such mortgage for taxation the owner thereof shall file with the
county treasurer a sworn statement of the maximum amount secured by
the mortgage. If such maximum amount is expressed in the mortgage
or in a sworn statement filed as required by this section, such
amount shall be the basis for assessing the tax levied by this
article. The statement filed by the owner of a mortgage pursuant to
this section shall thereafter at all times be binding upon and
conclusive against such owner, the holders of any bonds or
obligations secured by such mortgage and all persons claiming
through the mortgagee any interest in the mortgage or the mortgaged
premises. If the maximum amount secured or which by any contingency
may be secured by the mortgage is not expressed in the mortgage or
in a sworn statement so authorized by this section, the county
treasurer at the time such mortgage is offered for taxation may
require the mortgagor or mortgagee to furnish him with proofs as to
such facts as he deems necessary for the purpose of computing the
value of the property covered by the mortgage, and such proofs shall
Oklahoma Statutes - Title 68. Revenue and Taxation Page 707
be preserved in his office. His determination as to the basis for
computing the tax on such mortgage shall be subject to review on
appeal to the district court under the same procedure as cases
appealed from the county commissioners to the district court.
contingency may be secured by a mortgage is not determinable from
the terms of the mortgage, or if a mortgage is given to secure the
performance by the mortgagor, or of any other person of a contract
obligation other than the payment of a specific sum of money and the
maximum amount secured or which by any contingency may be secured by
the mortgage is not expressed therein, such mortgage shall be
taxable upon the value of the property covered by the mortgage,
which shall be determined by the county treasurer to whom such
mortgage is presented for taxation, unless at the time of presenting
such mortgage for taxation the owner thereof shall file with the
county treasurer a sworn statement of the maximum amount secured by
the mortgage. If such maximum amount is expressed in the mortgage
or in a sworn statement filed as required by this section, such
amount shall be the basis for assessing the tax levied by this
article. The statement filed by the owner of a mortgage pursuant to
this section shall thereafter at all times be binding upon and
conclusive against such owner, the holders of any bonds or
obligations secured by such mortgage and all persons claiming
through the mortgagee any interest in the mortgage or the mortgaged
premises. If the maximum amount secured or which by any contingency
may be secured by the mortgage is not expressed in the mortgage or
in a sworn statement so authorized by this section, the county
treasurer at the time such mortgage is offered for taxation may
require the mortgagor or mortgagee to furnish him with proofs as to
such facts as he deems necessary for the purpose of computing the
value of the property covered by the mortgage, and such proofs shall
Oklahoma Statutes - Title 68. Revenue and Taxation Page 707
be preserved in his office. His determination as to the basis for
computing the tax on such mortgage shall be subject to review on
appeal to the district court under the same procedure as cases
appealed from the county commissioners to the district court.
Status: in_force · Read it on the official government site
Need a lawyer in Oklahoma?
Find a Oklahoma lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.