Okla. Stat. tit. 74, § 74-5063.4c
This is the official text of Okla. Stat. tit. 74, § 74-5063.4c, part of Oklahoma’s Stat. tit. 74, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 74,." Browse the sections below, each linked to its official government source.
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Security requirements
Official statutory text
Except as otherwise provided in Section 6 of this act, at the
time of loan origination, the Oklahoma Development Finance Authority
shall require such security from the applicant as it deems necessary
in the circumstances of the insurance commitment. Except for the
infrastructure and other publicly owned facilities of governmental
entities and Quality Jobs Investment Program portfolio mix
categories, such security will include, but not be limited to:
1. A first mortgage or coordinate first mortgage on real
property, facilities or systems and fixtures located thereon; or
2. A second mortgage on real property, facilities or systems
and fixtures located thereon, provided the amount thereof may not
exceed One Million Dollars ($1,000,000.00).
time of loan origination, the Oklahoma Development Finance Authority
shall require such security from the applicant as it deems necessary
in the circumstances of the insurance commitment. Except for the
infrastructure and other publicly owned facilities of governmental
entities and Quality Jobs Investment Program portfolio mix
categories, such security will include, but not be limited to:
1. A first mortgage or coordinate first mortgage on real
property, facilities or systems and fixtures located thereon; or
2. A second mortgage on real property, facilities or systems
and fixtures located thereon, provided the amount thereof may not
exceed One Million Dollars ($1,000,000.00).
Status: in_force · Read it on the official government site
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