2013 Oklahoma Statutes
Title 1 - Abstracting


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<html> <head> <STYLE type="text/css"> body {padding-left:90pt;width:612pt} p {margin-top:0pt;margin-bottom:0pt} .cls0 {font-size:12pt;font-family:'Courier New', monospace;} .cls2 {margin-left:100pt;} .cls3 {margin-left:136pt;} .cls4 {margin-left:208pt;} .cls5 {margin-left:28pt;} .cls1 {text-align:justify;} </STYLE> <title>&sect;1-1</title> </head> <body> <p><span class="cls0">&sect;1-1. Repealed by Laws 1984, c. 163, &sect; 21, eff. Nov. 1, 1984.&nbsp;</span></p> <p><span class="cls0">&sect;1-2. Repealed by Laws 1984, c. 163, &sect; 21, eff. Nov. 1, 1984.&nbsp;</span></p> <p><span class="cls0">&sect;1-3. Repealed by Laws 1984, c. 163, &sect; 21, eff. Nov. 1, 1984.&nbsp;</span></p> <p><span class="cls0">&sect;1-4. Repealed by Laws 1984, c. 163, &sect; 21, eff. Nov. 1, 1984.&nbsp;</span></p> <p><span class="cls0">&sect;1-5. Repealed by Laws 1984, c. 163, &sect; 21, eff. Nov. 1, 1984.&nbsp;</span></p> <p><span class="cls0">&sect;1-6. Repealed by Laws 1984, c. 163, &sect; 21, eff. Nov. 1, 1984.&nbsp;</span></p> <p><span class="cls0">&sect;1-7. Repealed by Laws 1984, c. 163, &sect; 21, eff. Nov. 1, 1984.&nbsp;</span></p> <p><span class="cls0">&sect;1-8. Repealed by Laws 1984, c. 163, &sect; 21, eff. Nov. 1, 1984.&nbsp;</span></p> <p><span class="cls0">&sect;1-9. Repealed by Laws 1984, c. 163, &sect; 21, eff. Nov. 1, 1984.&nbsp;</span></p> <p><span class="cls0">&sect;1-10. Repealed by Laws 1984, c. 163, &sect; 21, eff. Nov. 1, 1984.&nbsp;</span></p> <p><span class="cls0">&sect;1-11. Repealed by Laws 1984, c. 163, &sect; 21, eff. Nov. 1, 1984.&nbsp;</span></p> <p><span class="cls0">&sect;1-12. Repealed by Laws 1984, c. 163, &sect; 21, eff. Nov. 1, 1984.&nbsp;</span></p> <p><span class="cls0">&sect;1-13. Repealed by Laws 1984, c. 163, &sect; 21, eff. Nov. 1, 1984.&nbsp;</span></p> <p><span class="cls0">&sect;1-14. Repealed by Laws 1984, c. 163, &sect; 21, eff. Nov. 1, 1984.&nbsp;</span></p> <p><span class="cls0">&sect;1-15. Repealed by Laws 1984, c. 163, &sect; 21, eff. Nov. 1, 1984.&nbsp;</span></p> <p><span class="cls0">&sect;1-16. Repealed by Laws 1984, c. 163, &sect; 21, eff. Nov. 1, 1984.&nbsp;</span></p> <p><span class="cls0">&sect;1-17. Repealed by Laws 1984, c. 163, &sect; 21, eff. Nov. 1, 1984.&nbsp;</span></p> <p><span class="cls0">&sect;1-18. Repealed by Laws 1984, c. 163, &sect; 21, eff. Nov. 1, 1984.&nbsp;</span></p> <p><span class="cls0">&sect;1-20. Short title.&nbsp;</span></p> <p><span class="cls0">Sections 227.10 through 227.30 of this title shall be known and may be cited as the &ldquo;Oklahoma Abstractors Act&rdquo;.&nbsp;</span></p> <p><span class="cls0">Added by Laws 1984, c. 163, &sect; 1, eff. Nov. 1, 1984. Amended by Laws 2006, c. 269, &sect; 2, eff. July 1, 2007; Laws 2007, c. 359, &sect; 1, eff. Jan. 1, 2008. Renumbered from Title 74, &sect; 227.10 by Laws 2007, c. 359, &sect; 22, eff. Jan. 1, 2008.&nbsp;</span></p> <p class="cls1">&nbsp;</p> <p><span class="cls0">&sect;1-21. Definitions.&nbsp;</span></p> <p><span class="cls0">As used in the Oklahoma Abstractors Act:&nbsp;</span></p> <p><span class="cls0">1. "Abstract of title" is a compilation in orderly arrangement of the materials and facts of record, in the office of the county clerk and court clerk, affecting the title to a specific tract of land issued pursuant to a certificate certifying to the matters therein contained;&nbsp;</span></p> <p><span class="cls0">2. "Abstract plant" shall consist of a set of records in which an entry has been made of all documents or matters which legally impart constructive notice of matters affecting title to real property, any interest therein or encumbrances thereon, which are filed, recorded and currently available for reproduction in the offices of the county clerk and the court clerk in the county for which such abstract plant is maintained. Such records shall consist of:&nbsp;</span></p> <p class="cls2"><span class="cls0">a.&nbsp;&nbsp;an index in which notations of or references to any documents that describe the property affected are included, according to the property described or in which copies or briefs of all such documents that describe the property affected are sorted and filed according to the property described, which is compiled from the instruments of record affecting real property in the county offices and not copied or reproduced from any county index; and&nbsp;</span></p> <p class="cls2"><span class="cls0">b.&nbsp;&nbsp;an index or files in which all other documents, pending suits affecting real property and liens, except ad valorem taxes and special assessments, are posted, entered, or otherwise included, according to the name of the parties whose title to real property or any interest therein or encumbrances thereon is affected, which is compiled from the instruments of record affecting real property in the county offices and not copied from any county index;&nbsp;</span></p> <p><span class="cls0">3. "Abstract license" is the authorization for a person working for a holder of a certificate of authority to search and remove from county offices county records, summarize or compile copies of such records, and issue the abstract of title;&nbsp;</span></p> <p><span class="cls0">4. &ldquo;Act&rdquo; or &ldquo;Oklahoma Abstractors Law&rdquo; means the Oklahoma Abstractors Act;&nbsp;</span></p> <p><span class="cls0">5. &ldquo;Board&rdquo; means the Oklahoma Abstractors Board;&nbsp;</span></p> <p><span class="cls0">6. "Certificate of authority" is the authorization to engage in the business of abstracting in a county in this state, granted to a person, firm, corporation, or other entity, by the Oklahoma Abstractors Board;&nbsp;</span></p> <p><span class="cls0">7. &ldquo;Permit&rdquo; is the authorization to build an abstract plant in a specific county; and&nbsp;</span></p> <p><span class="cls0">8. &ldquo;State Auditor and Inspector&rdquo;, for the purposes of the Oklahoma Abstractors Act, means the Oklahoma Abstractors Board.&nbsp;</span></p> <p><span class="cls0">Added by Laws 1984, c. 163, &sect; 2, eff. Nov. 1, 1984. Amended by Laws 2007, c. 359, &sect; 2, eff. Jan. 1, 2008. Renumbered from Title 74, &sect; 227.11 by Laws 2007, c. 359, &sect; 22, eff. Jan. 1, 2008. Amended by Laws 2008, c. 97, &sect; 1, eff. Nov. 1, 2008.&nbsp;</span></p> <p>&nbsp;</p> <p><span class="cls0">&sect;1-22. Oklahoma Abstractors Board.&nbsp;</span></p> <p><span class="cls0">A. There is hereby re-created to continue until July 1, 2019, in accordance with the Oklahoma Sunset Law the Oklahoma Abstractors Board. Beginning January 1, 2008, the Oklahoma Abstractors Board shall have the total responsibility of administering and enforcing the Oklahoma Abstractors Act.&nbsp;</span></p> <p><span class="cls0">B. The Board shall have the power and duty to prescribe, promulgate and implement rules as deemed necessary to implement all the provisions of the Oklahoma Abstractors Act.&nbsp;</span></p> <p><span class="cls0">C. The Board shall have the power and duty to obtain and secure an office in Oklahoma City, and employ, direct, discharge, and define the duties and set the salaries of employees of the Board, including an executive director, as are necessary to implement the provisions of the Oklahoma Abstractors Act.&nbsp;</span></p> <p><span class="cls0">D. The Board shall consist of nine (9) members who shall be appointed by the Governor and confirmed by the Senate:&nbsp;</span></p> <p><span class="cls0">1. Six of the members shall be residents of this state who are either a holder of a current valid Certificate of Authority or an employee of a holder of a current valid Certificate of Authority for not less than five (5) years in a county in the district from which the member is appointed prior to appointment. One member shall be appointed from each of the following districts:&nbsp;</span></p> <p><span class="cls0">District 1: Alfalfa, Beaver, Blaine, Cimarron, Custer, Dewey, Ellis, Garfield, Grant, Harper, Kingfisher, Major, Roger Mills, Texas, Woods, and Woodward Counties.&nbsp;</span></p> <p><span class="cls0">District 2: Beckham, Caddo, Carter, Comanche, Cotton, Garvin, Grady, Greer, Harmon, Jackson, Jefferson, Kiowa, Love, McClain, Murray, Stephens, Tillman, and Washita Counties.&nbsp;</span></p> <p><span class="cls0">District 3: Canadian, Cleveland, Logan, and Oklahoma Counties.&nbsp;</span></p> <p><span class="cls0">District 4: Adair, Cherokee, Craig, Delaware, Kay, Mayes, Muskogee, Noble, Nowata, Okmulgee, Osage, Ottawa, Pawnee, Payne, Sequoyah, and Washington Counties.&nbsp;</span></p> <p><span class="cls0">District 5: Creek, Lincoln, Rogers, Tulsa, and Wagoner Counties.&nbsp;</span></p> <p><span class="cls0">District 6: Atoka, Bryan, Choctaw, Coal, Haskell, Hughes, Johnston, Latimer, Leflore, McIntosh, Marshall, McCurtain, Okfuskee, Pittsburg, Pontotoc, Pottawatomie, Pushmataha, and Seminole Counties;&nbsp;</span></p> <p><span class="cls0">2. One member shall be a resident of this state who has been a licensed real estate broker in Oklahoma for not less than five (5) years;&nbsp;</span></p> <p><span class="cls0">3. One member shall be an attorney who is a resident of this state who has been licensed to practice in Oklahoma for not less than five (5) years; and&nbsp;</span></p> <p><span class="cls0">4. One member shall be a resident of this state who has been an officer in a bank in Oklahoma for not less than five (5) years.&nbsp;</span></p> <p><span class="cls0">E. The Governor shall make the initial appointments to the Board within ninety (90) days of the effective date of this act:&nbsp;</span></p> <p><span class="cls0">1. The initial appointments for the members of the Board shall be as follows:&nbsp;</span></p> <p class="cls2"><span class="cls0">a.&nbsp;&nbsp;members appointed from Districts 1 and 3 shall serve until July 1, 2008,&nbsp;</span></p> <p class="cls2"><span class="cls0">b.&nbsp;&nbsp;members appointed from Districts 2 and 4 shall serve until July 1, 2009,&nbsp;</span></p> <p class="cls2"><span class="cls0">c.&nbsp;&nbsp;members appointed from Districts 5 and 6 shall serve until July 1, 2010,&nbsp;</span></p> <p class="cls2"><span class="cls0">d.&nbsp;&nbsp;the real estate broker member shall serve until July 1, 2010,&nbsp;</span></p> <p class="cls2"><span class="cls0">e.&nbsp;&nbsp;the attorney member shall serve until July 1, 2009, and&nbsp;</span></p> <p class="cls2"><span class="cls0">f.&nbsp;&nbsp;the bank officer member shall serve until July 1, 2010; and&nbsp;</span></p> <p><span class="cls0">2. Thereafter, all members shall serve four-year terms.&nbsp;</span></p> <p><span class="cls0">F. Each member shall hold office until the expiration of the term of office for which appointed or until a successor has been appointed and confirmed:&nbsp;</span></p> <p><span class="cls0">1. Vacancies on the Board due to death, resignation, or removal occurring during a term shall be filled by the Governor for the unexpired portion of the term in a manner as provided for regular appointments to the Board;&nbsp;</span></p> <p><span class="cls0">2. Members filling the remainder of an unexpired term shall assume office immediately upon appointment by the Governor and shall serve until confirmation or denial of confirmation by the Senate; and&nbsp;</span></p> <p><span class="cls0">3. A member may be reappointed to the Board, but shall not serve more than two (2) terms.&nbsp;</span></p> <p><span class="cls0">G. Members of the Board shall receive no salary or compensation for service on the Board, but shall be reimbursed for travel expenses incurred on behalf of their service on the Board pursuant to the State Travel Reimbursement Act.&nbsp;</span></p> <p><span class="cls0">H. Members may be removed from office by the Governor:&nbsp;</span></p> <p><span class="cls0">1. For inefficiency, neglect of duty, or malfeasance in office in the manner provided for by law for the removal of officers not subject to impeachment;&nbsp;</span></p> <p><span class="cls0">2. For cause which shall include, but not be limited to:&nbsp;</span></p> <p class="cls2"><span class="cls0">a.&nbsp;&nbsp;the member has ceased to be qualified. A member of the Board is no longer qualified to serve if that member:&nbsp;</span></p> <p class="cls3"><span class="cls0">(1)&nbsp;&nbsp;is a member whose certificate of authority, license, or permit pursuant to the laws of this state has become void or has been revoked or suspended, or&nbsp;</span></p> <p class="cls3"><span class="cls0">(2)&nbsp;&nbsp;is a member who has moved from this state,&nbsp;</span></p> <p class="cls2"><span class="cls0">b.&nbsp;&nbsp;the member has been convicted, pled guilty or nolo contendere to a felony pursuant to the laws of the United States or any jurisdiction,&nbsp;</span></p> <p class="cls2"><span class="cls0">c.&nbsp;&nbsp;the member has become medically incapacitated as determined in writing by a medical doctor upon request by the Board, or&nbsp;</span></p> <p class="cls2"><span class="cls0">d.&nbsp;&nbsp;the member has been absent from three meetings, or is absent for more than one-half (1/2) the number of minutes for which a meeting is conducted of three meetings as determined by the Board during any twelve-month period, unless such absence is determined to be unavoidable in the opinion of a majority of the remaining members;&nbsp;</span></p> <p><span class="cls0">3. Upon being found guilty, through due process, of malfeasance, misfeasance or nonfeasance in relation to Board duties; or&nbsp;</span></p> <p><span class="cls0">4. Upon being found mentally incompetent by a court of competent jurisdiction.&nbsp;</span></p> <p><span class="cls0">I. Removal pursuant to the provisions of subsection H of this section shall be accomplished in the following manner:&nbsp;</span></p> <p><span class="cls0">1. After a majority vote of the remaining members setting out the dates of absences or other grounds for removal and the fact of the disqualification of the member, a written notification of the said vote shall be sent to the Governor; and&nbsp;</span></p> <p><span class="cls0">2. Upon receipt of the written notification, the Governor, after a hearing conducted in accordance with the provisions of the Administrative Procedures Act, may remove any member of the Board for any of the reasons set out in the notice from the Board or for any other reason specified in this act, provided:&nbsp;</span></p> <p class="cls2"><span class="cls0">a.&nbsp;&nbsp;removal pursuant to the provisions of this subsection shall occur upon the Governor filing a written statement of findings after the hearing as to the reasons and basis for removal of the member with the secretary of the Board, and&nbsp;</span></p> <p class="cls2"><span class="cls0">b.&nbsp;&nbsp;the Governor shall appoint another member in the manner provided for appointments to the Board.&nbsp;</span></p> <p><span class="cls0">Added by Laws 2007, c. 359, &sect; 3, eff. July 1, 2007. Amended by Laws 2013, c. 350, &sect; 1.&nbsp;</span></p> <p>&nbsp;</p> <p><span class="cls0">&sect;1-23. Oklahoma Abstractors Board meetings - Officers, duties and powers.&nbsp;</span></p> <p><span class="cls0">A. The Oklahoma Abstractors Board shall meet at least quarterly each calendar year, and may meet more often as determined by the Board.&nbsp;</span></p> <p><span class="cls0">B. The Board shall elect from its membership a chair, a vice-chair and a secretary. The officers of the Board shall be elected each July, and shall hold office for a term of one (1) year.&nbsp;</span></p> <p><span class="cls0">1. The chair shall preside at all meetings of the Board, call special meetings of the Board as are necessary, sign all certificates of authority, licenses and permits and perform such other duties as the Board shall direct. A special meeting shall be called by the chair upon written request of three or more board members.&nbsp;</span></p> <p><span class="cls0">2. The vice-chair shall exercise the powers of and perform the duties of the chair in the absence or disability of the chair, and perform such other duties as the Board shall direct.&nbsp;</span></p> <p><span class="cls0">3. The secretary shall keep a complete and permanent record of all proceedings of the Board and shall preside at any meeting in the absence of the chair and vice-chair, validate minutes of all of the meetings of the Board, in the manner prescribed in the rules of the Board and supervise the maintenance of the records of the Board. The secretary shall perform such other duties as the Board shall direct.&nbsp;</span></p> <p><span class="cls0">4. At any regular or special meeting at which none of the officers are in attendance, the members of the Board in attendance shall elect a member to preside at that meeting.&nbsp;</span></p> <p><span class="cls0">5. Five Board members shall constitute a quorum for the transaction of business.&nbsp;</span></p> <p><span class="cls0">Added by Laws 2007, c. 359, &sect; 4, eff. July 1, 2007.&nbsp;</span></p> <p>&nbsp;</p> <p><span class="cls0">&sect;1-24. Administration of Abstractors Act - Hearing examiners.&nbsp;</span></p> <p><span class="cls0">A. The Oklahoma Abstractors Board is hereby charged with the duty of administering the Oklahoma Abstractors Act. The Board shall be the sole governmental entity, state, county or municipal, authorized to regulate and issue certificates of authority, permits, and abstract licenses in this state. For the purposes of exercising the powers and performing the duties imposed by the Oklahoma Abstractors Act, the Board shall be subject to the provisions of the Administrative Procedures Act.&nbsp;</span></p> <p><span class="cls0">B. The Board may designate and employ hearing examiners who shall have the authority to conduct hearings subject to the provisions of applicable rules, regulations, and orders of the Board. No person shall serve as a hearing examiner in any proceeding in which any party to the proceeding is or has been a client of the hearing examiner or any partnership, firm, corporation, or other entity with which the hearing examiner is or has been associated. In any hearing the burden of proof shall be upon the moving party.&nbsp;</span></p> <p><span class="cls0">Added by Laws 1984, c. 163, &sect; 3, eff. Nov. 1, 1984. Amended by Laws 2007, c. 359, &sect; 5, eff. Jan. 1, 2008. Renumbered from Title 74, &sect; 227.12 by Laws 2007, c. 359, &sect; 22, eff. Jan. 1, 2008.&nbsp;</span></p> <p>&nbsp;</p> <p><span class="cls0">&sect;1-25. Abstractors Board - Powers and duties.&nbsp;</span></p> <p><span class="cls0">In performing the duties imposed pursuant to the Oklahoma Abstractors Act, the Oklahoma Abstractors Board shall have the following powers and duties:&nbsp;</span></p> <p><span class="cls0">1. To prescribe, promulgate, implement and enforce rules and make such orders as deemed necessary to implement all the provisions of the Oklahoma Abstractors Act including the duties imposed in this section;&nbsp;</span></p> <p><span class="cls0">2. To hold examinations for applicants for abstract licenses;&nbsp;</span></p> <p><span class="cls0">3. To issue abstract licenses, certificates of authority, and permits in such form as deemed appropriate;&nbsp;</span></p> <p><span class="cls0">4. To issue abstract licenses and certificates of authority to nonresidents, associations, corporations, and partnerships;&nbsp;</span></p> <p><span class="cls0">5. To suspend, revoke, or reinstate abstract licenses and certificates of authority previously issued, upon good cause shown;&nbsp;</span></p> <p><span class="cls0">6. To reprimand, place on probation, or require additional education of licensees and certificate holders upon good cause shown;&nbsp;</span></p> <p><span class="cls0">7. To establish administrative penalties and fines as provided for in Section 227.22 of this title for failure to furnish an abstract, abstract extension, supplemental abstract or final title report;&nbsp;</span></p> <p><span class="cls0">8. To prescribe and impose such administrative penalties and fines as deemed proper to be assessed against licensees and certificate holders for the failure to pay the renewal fees or for the violation or noncompliance with any provision of the Oklahoma Abstractors Act or rule or order of the Oklahoma Abstractors Board;&nbsp;</span></p> <p><span class="cls0">9. To cause the prosecution of any person who violates any of the provisions of the Oklahoma Abstractors Act;&nbsp;</span></p> <p><span class="cls0">10. To promulgate such rules and regulations governing the approval of organizations offering courses of study in real estate as are necessary for the administration of the Oklahoma Abstractors Act;&nbsp;</span></p> <p><span class="cls0">11. To establish minimum standards to be followed in the preparation of abstracts;&nbsp;</span></p> <p><span class="cls0">12. To establish a schedule of fees for applications for or renewals of certificates of authority, abstract licenses, or permits;&nbsp;</span></p> <p><span class="cls0">13. To establish the amount of the bond to be filed with applications for abstract licenses, certificates of authority, or permits;&nbsp;</span></p> <p><span class="cls0">14. To approve fee schedules of holders of certificates of authority, set criteria for determining what constitutes an excessive fee, and impose administrative penalties and fines for violations of approved fee schedules;&nbsp;</span></p> <p><span class="cls0">15. To deposit all fees and fines collected to the credit of the Oklahoma Abstractors Board Fund;&nbsp;</span></p> <p><span class="cls0">16. To confer with and seek legal assistance from the Office of the Attorney General whenever deemed appropriate by the Board; and&nbsp;</span></p> <p><span class="cls0">17. To have a seal which shall be affixed to all certificates of authority, abstract licenses, certified copies of documents on file, and such other instruments as the Board may direct, and all courts shall take judicial notice of the seal, and copies of records and proceedings of the Board and all documents filed with the Board and certified under seal shall be received as evidence in all courts of record.&nbsp;</span></p> <p><span class="cls0">Added by Laws 1984, c. 163, &sect; 4, eff. Nov. 1, 1984. Amended by Laws 1985, c. 304, &sect; 11, emerg. eff. July 24, 1985; Laws 2006, c. 269, &sect; 3, eff. July 1, 2007; Laws 2007, c. 359, &sect; 6, eff. Jan. 1, 2008. Renumbered from Title 74, &sect; 227.13 by Laws 2007, c. 359, &sect; 22, eff. Jan. 1, 2008.&nbsp;</span></p> <p class="cls1">&nbsp;</p> <p><span class="cls0">&sect;1-26. Oklahoma Abstractors Board Revolving Fund.&nbsp;</span></p> <p><span class="cls0">There is hereby created in the State Treasury a revolving fund for the Oklahoma Abstractors Board to be designated the "Oklahoma Abstractors Board Revolving Fund". Beginning July 1, 2007, any monies collected pursuant to the Oklahoma Abstractors Law shall be deposited into the Oklahoma Abstractors Board Revolving Fund. Beginning January 1, 2008, any monies collected pursuant to the Oklahoma Abstractors Act shall be deposited into the Oklahoma Abstractors Board Revolving Fund. The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of all monies received by the Oklahoma Abstractors Board from any transfers, fees, bonds, penalties or fines paid to the Board pursuant to the Oklahoma Abstractors Act. All monies accruing to the credit of said fund are hereby appropriated and may be budgeted and expended by the Oklahoma Abstractors Board for the purpose of effectuating the purposes of the Oklahoma Abstractors Act and to pay all costs and expenses heretofore and hereafter incurred in connection therewith. Expenditures from said fund shall be made upon warrants issued by the State Treasurer against claims filed as prescribed by law with the Director of the Office of Management and Enterprise Services for approval and payment.&nbsp;</span></p> <p><span class="cls0">Added by Laws 2007, c. 359, &sect; 7, eff. July 1, 2007. Amended by Laws 2012, c. 304, &sect; 1.&nbsp;</span></p> <p>&nbsp;</p> <p><span class="cls0">&sect;1-27. Application for certificate of authority - Fee - Bond - Proof required.&nbsp;</span></p> <p><span class="cls0">A. Any person, firm, corporation, or other entity desiring to engage in the business of abstracting in this state shall make application to the Oklahoma Abstractors Board for a certificate of authority for each county in which the applicant desires to do business. The application shall be on a form prepared by the Board and containing such information as may be necessary to determine whether or not the applicant has complied with the provisions of the Oklahoma Abstractors Act. The application shall be accompanied by a fee and a bond. The bond may be a corporate surety bond or a personal bond in the form of cash or a certificate of deposit endorsed in favor of and delivered to the Board. The application fee shall be set by the Board in an amount determined by the number of counties in which the applicant desires to do business not to exceed the following schedule:&nbsp;</span></p> <p class="cls4"><span class="cls0">County Population&nbsp;&nbsp;&nbsp;&nbsp;Fee Not to Exceed&nbsp;</span></p> <p class="cls4"><span class="cls0">Less than 10,000&nbsp;&nbsp;&nbsp;&nbsp;$500.00&nbsp;</span></p> <p><span class="cls0">10,000 but less than 30,000&nbsp;&nbsp;$1,000.00&nbsp;</span></p> <p><span class="cls0">30,000 but less than 60,000&nbsp;&nbsp;$1,500.00&nbsp;</span></p> <p class="cls4"><span class="cls0">60,000 but less than 100,000 &nbsp;&nbsp;$2,000.00&nbsp;</span></p> <p class="cls4"><span class="cls0">100,000 but less than 200,000&nbsp;&nbsp;$3,000.00&nbsp;</span></p> <p class="cls4"><span class="cls0">200,000 or more&nbsp;&nbsp;&nbsp;&nbsp;$4,000.00&nbsp;</span></p> <p><span class="cls0">B. The applicant shall furnish proof to the Board that there is an abstract plant available for use for each county for which abstracts will be prepared, or that the applicant was engaged in the business of abstracting in this state on January 1, 1984, and had a valid certificate of authority pursuant to the laws of this state on that date for each county in which the applicant wishes to do business. Or, if it is finally determined that the applicant was entitled to a valid certificate of authority pursuant to the provisions of the previous law, said applicant shall be deemed to have been engaged in the business of abstracting on January 1, 1984, and had a valid certificate of authority pursuant to the laws of this state for each county in which the applicant wishes to do business. All periods for compliance for a certificate of authority pursuant to the provisions of the Oklahoma Abstractors Act shall be extended for like periods from the date of such determination notwithstanding other provisions of the Oklahoma Abstractors Act.&nbsp;</span></p> <p><span class="cls0">C. The applicant also shall furnish proof of either errors and omissions insurance or a bond for each county in which the applicant wishes to do business to pay damages for possible errors in abstracts prepared subject to the provisions of the certificate as follows:&nbsp;</span></p> <p class="cls5"><span class="cls0">County Population&nbsp;&nbsp;&nbsp;&nbsp;Amount of Bond&nbsp;</span></p> <p class="cls5"><span class="cls0">Less than 30,000&nbsp;&nbsp;$15,000.00&nbsp;</span></p> <p class="cls5"><span class="cls0">30,000 but less than 60,000&nbsp;&nbsp;$25,000.00&nbsp;</span></p> <p class="cls5"><span class="cls0">60,000 but less than 100,000&nbsp;&nbsp;$50,000.00&nbsp;</span></p> <p class="cls5"><span class="cls0">100,000 or more &nbsp;&nbsp;$100,000.00&nbsp;</span></p> <p><span class="cls0">The bond may be a corporate surety bond or a personal bond in the form of cash or a certificate of deposit endorsed in favor of and delivered to the Board.&nbsp;</span></p> <p><span class="cls0">Added by Laws 1984, c. 163, &sect; 5, eff. Nov. 1, 1984. Amended by Laws 1988, c. 56, &sect; 1, eff. Nov. 1, 1988; Laws 2007, c. 359, &sect; 9, eff. Jan. 1, 2008. Renumbered from Title 74, &sect; 227.14 by Laws 2007, c. 359, &sect; 22, eff. Jan. 1, 2008.&nbsp;</span></p> <p>&nbsp;</p> <p><span class="cls0">&sect;1-28. Independent set of abstract books or other system of indexes required.&nbsp;</span></p> <p><span class="cls0">In addition to the bond required any person, firm, corporation, or other entity not engaged in the business of abstracting on January 1, 1984, desiring to enter into the business of compiling or abstracting titles to real estate in any of the counties of the State of Oklahoma from and after the passage of the Oklahoma Abstractors Act, shall have for use in such business an independent set of abstract books or other system of indexes compiled from the instruments of record affecting real estate in the office of the county clerk, and not copied from the indexes in said office, showing in a sufficiently comprehensive form all instruments affecting the title to real property on file, of record and currently available for reproduction in the office of the county clerk and court clerk of the county wherein such business is conducted, provided that nothing in this section shall in any way be construed as to limit the liability of the holder of a certificate of authority to provide an abstract of title compiled and certified to in accordance with the Oklahoma Abstractors Act.&nbsp;</span></p> <p><span class="cls0">Added by Laws 1984, c. 163, &sect; 6, eff. Nov. 1, 1984. Amended by Laws 2007, c. 359, &sect; 10, eff. Jan. 1, 2008. Renumbered from Title 74, &sect; 227.15 by Laws 2007, c. 359, &sect; 22, eff. Jan. 1, 2008. Amended by Laws 2008, c. 97, &sect; 2, eff. Nov. 1, 2008.&nbsp;</span></p> <p>&nbsp;</p> <p><span class="cls0">&sect;1-29. Persons, firms, corporations or other entities not engaged in abstracting on January 1, 1984 - Application for certificate of authority.&nbsp;</span></p> <p><span class="cls0">Any person, firm, corporation, or other entity who wishes to engage in the business of abstracting in this state who was not engaged in the business of abstracting in this state on January 1, 1984, or who did not have a valid certificate of authority in this state on such date shall make application for a certificate of authority. At the time of application, the Oklahoma Abstractors Board shall notify all certificate holders doing business in the county of the application.&nbsp;</span></p> <p><span class="cls0">Added by Laws 1984, c. 163, &sect; 8, eff. Nov 1, 1984. Amended by Laws 2007, c. 359, &sect; 11, eff. Jan. 1, 2008. Renumbered from Title 74, &sect; 227.17 by Laws 2007, c. 359, &sect; 22, eff. Jan. 1, 2008.&nbsp;</span></p> <p>&nbsp;</p> <p><span class="cls0">&sect;1-30. Certificate of authority - Issuance - Renewal - List of abstracting fees.&nbsp;</span></p> <p><span class="cls0">A. The Oklahoma Abstractors Board shall issue a certificate of authority to any applicant who has complied with the provisions of the Oklahoma Abstractors Act. The certificate shall be in written form and shall indicate the county or counties in which the applicant may operate. The certificate shall be prominently displayed in the office of the certificate holder.&nbsp;</span></p> <p><span class="cls0">B. All certificates of authority issued pursuant to the provisions of the Oklahoma Abstractors Act shall expire annually on a staggered schedule established by the Board except the first certificates which may cover more than one (1) year but less than two (2) years. Renewal procedures are as follows:&nbsp;</span></p> <p><span class="cls0">1. Applications for renewal shall be made ninety (90) days prior to expiration and shall be accompanied by a renewal fee in an amount determined by the Board not to exceed the original application fee;&nbsp;</span></p> <p><span class="cls0">2. Any individual, firm, corporation, or other entity holding a certificate of authority who fails to apply for renewal and pay the renewal fee shall be notified by the Board no later than sixty (60) days prior to expiration of the certificate of authority;&nbsp;</span></p> <p><span class="cls0">3. The individual, firm, corporation, or other entity shall have thirty (30) days from the date of notification to file a renewal application; and&nbsp;</span></p> <p><span class="cls0">4. The name of any individual, firm, corporation, or other entity failing to renew the certificate of authority shall be stricken from the records of the Board and said individual, firm, corporation, or other entity shall no longer engage in the business of abstracting in this state until authorized.&nbsp;</span></p> <p><span class="cls0">C. A list of abstracting fees shall be attached to an application for certificate of authority, an application to renew a certificate of authority and an application to transfer a certificate of authority. No certificate of authority shall be issued to any applicant until the list of abstracting fees is approved by the Board.&nbsp;</span></p> <p><span class="cls0">Added by Laws 1984, c. 163, &sect; 9, eff. Nov. 1, 1984. Amended by Laws 2006, c. 269, &sect; 4, eff. July 1, 2007; Laws 2007, c. 359, &sect; 12, eff. Jan. 1, 2008. Renumbered from Title 74, &sect; 227.18 by Laws 2007, c. 359, &sect; 22, eff. Jan. 1, 2008.&nbsp;</span></p> <p class="cls1">&nbsp;</p> <p><span class="cls0">&sect;1-31. Current abstract plant required.&nbsp;</span></p> <p><span class="cls0">Beginning November 1, 1984, all individuals, firms, corporations, or other entities engaging in the business of abstracting, shall have available for use or commence compilation of an abstract plant and thereafter shall maintain in a current condition said plant. Failure to do so shall render its certificates of authority subject to revocation. An abstract plant shall be deemed in a current condition if it reflects all documents or other matters that are filed in said county except those filed within the preceding fifteen (15) days. Holders of a certificate of authority issued pursuant to law who were engaged in the business of abstracting on November 1, 1984, shall not be required to construct or maintain an abstract plant of documents filed or recorded prior to November 1, 1984. If any such holder allows said certificate of authority to lapse after November 1, 1984, he shall be required to apply for a new certificate of authority before resuming the business of abstracting.&nbsp;</span></p> <p><span class="cls0">Added by Laws 1984, c. 163, &sect; 10, eff. Nov. 1, 1984. Renumbered from Title 74, &sect; 227.19 by Laws 2007, c. 359, &sect; 22, eff. Jan. 1, 2008.&nbsp;</span></p> <p>&nbsp;</p> <p><span class="cls0">&sect;1-32. Abstracts and other documents to be provided without delay - Valid order therefor - Failure to furnish - Penalties - Exclusions.&nbsp;</span></p> <p><span class="cls0">A. All abstractors shall furnish abstracts, abstract extensions, supplemental abstracts or final title reports as desired, to the persons applying therefor, in the order of receipt of a valid order therefor, without unnecessary delay, and for reasonable compensation pursuant to the requirements of the Oklahoma Abstractors Act. A valid order is a written order from the person applying for the order who is a party to the transaction containing the following elements:&nbsp;</span></p> <p><span class="cls0">1. A complete and accurate legal description or a complete and accurate address, as applicable;&nbsp;</span></p> <p><span class="cls0">2. The availability of any necessary base abstract; and&nbsp;</span></p> <p><span class="cls0">3. An up-front commitment to pay for the order either upon delivery or other payment conditions agreed to by the parties to the transaction or a stated cancellation fee amount.&nbsp;</span></p> <p><span class="cls0">B. Failure of an abstractor to furnish an abstract, abstract extension, supplemental abstract or final title report within the following time periods shall constitute unnecessary delay:&nbsp;</span></p> <p><span class="cls0">1. For furnishing new abstracts:&nbsp;</span></p> <p class="cls2"><span class="cls0">a.&nbsp;&nbsp;unplatted: twenty (20) business days, and&nbsp;</span></p> <p class="cls2"><span class="cls0">b.&nbsp;&nbsp;platted: fifteen (15) business days; and&nbsp;</span></p> <p><span class="cls0">2. For furnishing an abstract extension, supplemental abstract or final title report:&nbsp;</span></p> <p class="cls2"><span class="cls0">a.&nbsp;&nbsp;unplatted: seventeen (17) business days, and&nbsp;</span></p> <p class="cls2"><span class="cls0">b.&nbsp;&nbsp;platted: twelve (12) business days.&nbsp;</span></p> <p><span class="cls0">C. All licensed abstractors and certificate of authority holders, whose business is hereby declared to stand upon a like footing with that of common carriers, who shall refuse to do so, upon receipt of a valid order for the abstract, abstract extension, supplemental abstract or final title report, shall be subject to the following:&nbsp;</span></p> <p><span class="cls0">1. A civil penalty of not less than One Hundred Dollars ($100.00) nor more than One Thousand Dollars ($1,000.00) for each occurrence;&nbsp;</span></p> <p><span class="cls0">2. Liability in any action for damages, loss or injury which any person may suffer or incur by reason of failure to furnish such abstract, abstract extension, supplemental abstract or final title report pursuant to the provisions of this section. This penalty may be enforced in the same manner in which civil judgments may be enforced; and&nbsp;</span></p> <p><span class="cls0">3. Any administrative penalties and fines enforced by the Oklahoma Abstractors Board.&nbsp;</span></p> <p><span class="cls0">D. The provisions of this section shall not apply to orders for abstracts on oil, gas, and other minerals.&nbsp;</span></p> <p><span class="cls0">Added by Laws 1984, c. 163, &sect; 11, eff. Nov. 1, 1984. Amended by Laws 2006, c. 269, &sect; 5, eff. July 1, 2007; Laws 2007, c. 359, &sect; 13, eff. Jan. 1, 2008. Renumbered from Title 74, &sect; 227.20 by Laws 2007, c. 359, &sect; 22, eff. Jan. 1, 2008.&nbsp;</span></p> <p class="cls1">&nbsp;</p> <p><span class="cls0">&sect;1-33. Repeated violations - Temporary certificate of authority to another.&nbsp;</span></p> <p><span class="cls0">In the event that a holder of a certificate of authority has had repeated violations of the provisions of either Section 35 or 41 of Title 1 of the Oklahoma Statutes, the Oklahoma Abstractors Board shall establish a procedure whereby a temporary certificate of authority may be issued to another holder of a certificate of authority licensed in this state to meet the consumer needs in the county wherein the violations occurred. The certificate shall be subject to the following:&nbsp;</span></p> <p><span class="cls0">1. The temporary certificate of authority shall be valid for ninety (90) days;&nbsp;</span></p> <p><span class="cls0">2. Additional ninety-day renewals may be granted if deemed appropriate;&nbsp;</span></p> <p><span class="cls0">3. The holder of a temporary certificate of authority shall provide a fee schedule for the county covered by the temporary certificate of authority. The fee schedule may or may not be the same as the current fee schedule of the holder of the certificate of authority receiving the temporary certificate of authority; and&nbsp;</span></p> <p><span class="cls0">4. The holder of a temporary certificate of authority shall not be required to furnish proof of the existence of an abstract plant required in Section 27 of Title 1 of the Oklahoma Statutes.&nbsp;</span></p> <p><span class="cls0">Added by Laws 2006, c. 269, &sect; 6, eff. July 1, 2007. Amended by Laws 2007, c. 359, &sect; 14, eff. Jan. 1, 2008. Renumbered from Title 74, &sect; 227.20A by Laws 2007, c. 359, &sect; 22, eff. Jan. 1, 2008.&nbsp;</span></p> <p>&nbsp;</p> <p><span class="cls0">&sect;1-34. Development of abstract plant - Permit.&nbsp;</span></p> <p><span class="cls0">Any person wishing to develop an abstract plant shall make application for a permit. The application shall be on a form prepared by the Oklahoma Abstractors Board and shall be accompanied by the fee and the bond as provided in Section 27 of Title 1 of the Oklahoma Statutes. All permits shall expire annually. A permit holder who has not completed development of an abstract plant at the time the permit expires may apply for renewal of the permit. Applications for renewal must be made thirty (30) days prior to the scheduled expiration of the original permit and shall be accompanied by the renewal fee. The permit holder shall comply with the provisions of the Oklahoma Abstractors Act to obtain a certificate of authority after completion of the abstract plant.&nbsp;</span></p> <p><span class="cls0">Added by Laws 1984, c. 163, &sect; 12, eff. Nov. 1, 1984. Amended by Laws 2006, c. 269, &sect; 7, eff. July 1, 2007; Laws 2007, c. 359, &sect; 15, eff. Jan. 1, 2008. Renumbered from Title 74, &sect; 227.21 by Laws 2007, c. 359, &sect; 22, eff. Jan. 1, 2008.&nbsp;</span></p> <p class="cls1">&nbsp;</p> <p><span class="cls0">&sect;1-35. Censure, suspension, revocation, continuance, renewal or refusal to issue certificate of authority or permit - Civil penalties.&nbsp;</span></p> <p><span class="cls0">A. The Oklahoma Abstractors Board shall censure, suspend, revoke, continue, renew, or refuse to issue any certificate of authority or permit issued or applied for pursuant to the provisions of the Oklahoma Abstractors Act, if, after a hearing, the Board finds any one or more of the following conditions:&nbsp;</span></p> <p><span class="cls0">1. Any untrue statement in the application for a certificate of authority or permit;&nbsp;</span></p> <p><span class="cls0">2. The violation of or noncompliance with any provision of the Oklahoma Abstractors Act or rule, regulation, or order of the Board;&nbsp;</span></p> <p><span class="cls0">3. The obtaining of or attempt to obtain a certificate of authority or permit through fraud or misrepresentation;&nbsp;</span></p> <p><span class="cls0">4. Conviction of or plea of guilty or nolo contendere to a felony in this state, another state, or a federal court or of a misdemeanor involving moral turpitude;&nbsp;</span></p> <p><span class="cls0">5. Conspiracy involving the certificate holder or the certificate holder&rsquo;s agents to obtain an abstract license for an employee, prospective employee, or other person through fraud or misrepresentation;&nbsp;</span></p> <p><span class="cls0">6. Failure to properly supervise an abstract licensee whose license is issued through the certificate holder; or&nbsp;</span></p> <p><span class="cls0">7. Failure to provide an abstract, abstract extension, supplemental abstract or final title report pursuant to the requirements of Section 32 of Title 1 of the Oklahoma Statutes.&nbsp;</span></p> <p><span class="cls0">B. In addition to or in lieu of any censure, denial, suspension, or revocation of a certificate or permit, any person, firm, corporation, or other entity violating the provisions of the Oklahoma Abstractors Act shall be subject to a civil penalty of not less than One Hundred Dollars ($100.00) nor more than Ten Thousand Dollars ($10,000.00) for each occurrence. The fine may be enforced in the same manner in which civil judgments may be enforced.&nbsp;</span></p> <p><span class="cls0">Added by Laws 1984, c. 163, &sect; 13, eff. Nov. 1, 1984. Amended by Laws 2006, c. 269, &sect; 8, eff. July 1, 2007; Laws 2007, c. 359, &sect; 16, eff. Jan. 1, 2008. Renumbered from Title 74, &sect; 227.22 by Laws 2007, c. 359, &sect; 22, eff. Jan. 1, 2008.&nbsp;</span></p> <p class="cls1">&nbsp;</p> <p><span class="cls0">&sect;1-36. Rights and responsibilities of abstractors.&nbsp;</span></p> <p><span class="cls0">A. Any person, firm, corporation, or other entity holding a valid abstract license or permit, or any abstract licensee affiliated with such person, firm, corporation, or other entity, shall:&nbsp;</span></p> <p><span class="cls0">1. Have free access to the instruments of record affecting real property filed in any city, county, or state office;&nbsp;</span></p> <p><span class="cls0">2. Be permitted to make such memoranda, notations, or copies of such instruments of record;&nbsp;</span></p> <p><span class="cls0">3. Occupy reasonable space with equipment for that purpose during the business hours of such office;&nbsp;</span></p> <p><span class="cls0">4. Make and prepare abstracts; and&nbsp;</span></p> <p><span class="cls0">5. Compile, post, copy, and maintain his or her books, records, and indexes.&nbsp;</span></p> <p><span class="cls0">B. The records in any city, county, or state office shall not be taken from the office to which they belong, for any reason, except that records may be taken from the office of the district court clerk by an abstractor who is doing business within that county and has an approved bond on file with the county clerk for a period of time not to exceed twentyfour (24) hours after first giving proper receipt to the appropriate clerk or deputy.&nbsp;</span></p> <p><span class="cls0">C. An abstractor shall have the right of access to any instrument filed of record in a county office, not later than the close of business of the first business day following the day of filing. There shall be no fee charged for providing access to the instrument.&nbsp;</span></p> <p><span class="cls0">D. For purposes of this section, "access" means possession of said instrument to mechanically reproduce it, either in the office or out of the office of filing, at the discretion of the county officer having custody of the instrument, which reproduction shall be completed not later than the close of business of the first business day following the day of receipt of the document. Provided if the abstractor fails to return the files within the twentyfourhour period, the county officer in his or her discretion may refuse to allow the abstractor to remove said files at a later date. Any county officer making such refusal shall send written notice of such action to the Oklahoma Abstractors Board.&nbsp;</span></p> <p><span class="cls0">E. Access to instruments of record shall be for immediate and lawful abstracting purposes only. The sale of the instruments of record for profit to the public either on the internet or any other such forum by any company holding a permit to build an abstract plant is prohibited, and a violation of this subsection shall be considered a violation of the Oklahoma Abstractors Law.&nbsp;</span></p> <p><span class="cls0">F. All certificates of authority or permit holders and abstract licensees shall be subject to the same obligation to protect and preserve the public records to which they have access as do the public officers who have legal custody of such records. Holders of certificates of authority or permits and abstract licensees shall be subject to the same penalties for a violation of such duty as said officers.&nbsp;</span></p> <p><span class="cls0">G. Reliance on the county indexes in the preparation of an abstract of title shall not be a defense of liability for an error or omission in an abstract of title.&nbsp;</span></p> <p><span class="cls0">Added by Laws 1984, c. 163, &sect; 14, eff. Nov. 1, 1984. Amended by Laws 2007, c. 359, &sect; 17, eff. Jan. 1, 2008. Renumbered from Title 74, &sect; 227.23 by Laws 2007, c. 359, &sect; 22, eff. Jan. 1, 2008. Amended by Laws 2008, c. 84, &sect; 1, eff. Nov. 1, 2008.&nbsp;</span></p> <p class="cls1">&nbsp;</p> <p><span class="cls0">&sect;1-37. Certain employees required to hold abstract license - Exemptions.&nbsp;</span></p> <p><span class="cls0">Any person in the employ of a holder of a certificate of authority or permit for the purpose of searching county records or compiling abstracts shall hold an abstract license. The provisions of this section shall not apply to an employee whose sole function is to put the work product of others into typewritten or other readable form.&nbsp;</span></p> <p><span class="cls0">Added by Laws 1984, c. 163, &sect; 15, eff. Nov. 1, 1984. Renumbered from Title 74, &sect; 227.24 by Laws 2007, c. 359, &sect; 22, eff. Jan. 1, 2008.&nbsp;</span></p> <p>&nbsp;</p> <p><span class="cls0">&sect;1-38. Qualifications for issuance of license - Term of license - License fee.&nbsp;</span></p> <p><span class="cls0">A. An abstract license shall be issued by the Oklahoma Abstractors Board to an applicant who:&nbsp;</span></p> <p><span class="cls0">1. Is eighteen (18) years of age or older;&nbsp;</span></p> <p><span class="cls0">2. Is of good moral character; &nbsp;</span></p> <p><span class="cls0">3. Has not been convicted of or pleaded guilty or nolo contendere to a felony or crime of moral turpitude in this state, another state, or a federal court; and&nbsp;</span></p> <p><span class="cls0">4. Has passed a test for abstractors required by the Board.&nbsp;</span></p> <p><span class="cls0">B. Each abstract license shall be valid for one (1) year. The Board shall set the fees for an abstract license and for renewal not to exceed One Hundred Fifty Dollars ($150.00).&nbsp;</span></p> <p><span class="cls0">Added by Laws 1984, c. 163, &sect; 16, eff. Nov. 1, 1984. Amended by Laws 2006, c. 269, &sect; 9, eff. July 1, 2007; Laws 2007, c. 359, &sect; 18, eff. Jan. 1, 2008. Renumbered from Title 74, &sect; 227.25 by Laws 2007, c. 359, &sect; 22, eff. Jan. 1, 2008.&nbsp;</span></p> <p class="cls1">&nbsp;</p> <p><span class="cls0">&sect;1-39. Supervision of licensees.&nbsp;</span></p> <p><span class="cls0">All abstract licensees shall submit to the supervision of a holder of a certificate of authority or permit and shall inform the Oklahoma Abstractors Board in writing of the name and address of that holder of a certificate of authority or permit. If the licensee leaves the employ of that holder of a certificate of authority or permit or changes employment to another holder of a certificate of authority or permit, he shall so inform the Board in writing within ten (10) days of the action.&nbsp;</span></p> <p><span class="cls0">Added by Laws 1984, c. 163, &sect; 17, eff. Nov. 1, 1984. Amended by Laws 2007, c. 359, &sect; 19, eff. Jan. 1, 2008. Renumbered from Title 74, &sect; 227.26 by Laws 2007, c. 359, &sect; 22, eff. Jan. 1, 2008.&nbsp;</span></p> <p>&nbsp;</p> <p><span class="cls0">&sect;1-40. Censure, revocation or suspension of abstract license.&nbsp;</span></p> <p><span class="cls0">Upon good cause shown and after a hearing, the Oklahoma Abstractors Board may censure a licensee or revoke or suspend his abstract license for any of the following acts:&nbsp;</span></p> <p><span class="cls0">1. Making of a materially fraudulent statement in an application for an abstract license; or&nbsp;</span></p> <p><span class="cls0">2. Having been convicted and exhausted all appellate remedies in a court of competent jurisdiction in this or any other state or a federal court of the crime of forgery, embezzlement, obtaining money under false pretenses, extortion, conspiracy to defraud, fraud, or any similar offense, or pleading guilty or nolo contendere to any such offense; or&nbsp;</span></p> <p><span class="cls0">3. Destroying or secreting public records, or failing to return said records within the designated time; or&nbsp;</span></p> <p><span class="cls0">4. Any other conduct which constitutes untrustworthy or improper, fraudulent, or dishonest activities; or&nbsp;</span></p> <p><span class="cls0">5. Disregarding or violating any provision of the Oklahoma Abstractors Act; or&nbsp;</span></p> <p><span class="cls0">6. Continued violation after notice from the Board of engaging in a practice of charging excessive abstracting fees.&nbsp;</span></p> <p><span class="cls0">Added by Laws 1984, c. 163, &sect; 18, eff. Nov. 1, 1984. Amended by Laws 2007, c. 359, &sect; 20, eff. Jan. 1, 2008. Renumbered from Title 74, &sect; 227.27 by Laws 2007, c. 359, &sect; 22, eff. Jan. 1, 2008.&nbsp;</span></p> <p>&nbsp;</p> <p><span class="cls0">&sect;1-41. Unlawful business inducements - Charges for abstracts, abstract extensions, supplemental abstracts and final title reports - List of abstracting fees - Civil penalties.&nbsp;</span></p> <p><span class="cls0">A. It shall be unlawful for any abstractor as an inducement to obtaining any business to pay, rebate, or deduct any portion of or to permit any deduction from a charge made for making, extending, or certifying an abstract of title, to:&nbsp;</span></p> <p><span class="cls0">1. Any owner, mortgagee, or lessee of the real property covered by the abstract of title, or of any right, title, or interest in or lien upon the same; &nbsp;</span></p> <p><span class="cls0">2. Any principal, broker, agent, or attorney in connection with a sale or lease of real property or the making or obtaining of a loan thereon in which an abstract of title is required, used, or furnished; and&nbsp;</span></p> <p><span class="cls0">3. Any spouse, child, employee, ward, officer, director, subsidiary, affiliate, parent, relative within the fifth degree, personal representative, or partner of any person, firm, or corporation included in this section.&nbsp;</span></p> <p><span class="cls0">B. All charges for abstracts, abstract extensions, supplemental abstracts or final title reports shall be separately stated and shall not be combined with title insurance, closing fees, or examination charges, shall be uniform for all abstracts, abstract extensions, supplemental abstracts or final title reports of whatsoever kind or nature, whether the abstract, abstract extension, supplemental abstract or final title report is prepared for use by the abstractor or for others purchasing abstracts, abstract extensions, supplemental abstracts or final title reports from the abstractor; and any other charge therefor shall be unlawful.&nbsp;</span></p> <p><span class="cls0">C. The list of abstracting fees required to be attached to an application for certificate of authority, an application to renew a certificate of authority and an application to transfer a certificate of authority pursuant to the provisions of Section 227.18 of this title shall include all fees the applicant intends to charge for abstracts, abstract extensions, supplemental abstracts or final title reports. The Oklahoma Abstractors Board shall notify the applicant in writing of any action taken with regard to the requested fees within sixty (60) days of submission. If no notice is provided regarding the submitted fees, they will be deemed to become effective on the sixty-first day following the day the application was submitted to the Board. The fees shall also be subject to the following:&nbsp;</span></p> <p><span class="cls0">1. No fee shall be charged that is not on the approved list;&nbsp;</span></p> <p><span class="cls0">2. The holder of the certificate of authority may submit an amended list of fees once a year requesting approval for changes to the currently approved fees; and&nbsp;</span></p> <p><span class="cls0">3. The amended list of fees must be approved before becoming effective. The Board may disapprove a list of fees or an amended list of fees if the fees are determined to be excessive or are used as an unlawful inducement. In determining whether a fee is excessive, the Board may consider any or all of the following:&nbsp;</span></p> <p class="cls2"><span class="cls0">a.&nbsp;&nbsp;the change from any prior rate for the same abstract, abstract extension, supplemental abstract or final title report,&nbsp;</span></p> <p class="cls2"><span class="cls0">b.&nbsp;&nbsp;the fee charged by other holders of certificates of authority within the same county, in adjacent counties, and in counties with similar characteristics,&nbsp;</span></p> <p class="cls2"><span class="cls0">c.&nbsp;&nbsp;the amount of work performed,&nbsp;</span></p> <p class="cls2"><span class="cls0">d.&nbsp;&nbsp;the time required to perform the work,&nbsp;</span></p> <p class="cls2"><span class="cls0">e.&nbsp;&nbsp;the amount of financial risk involved to the holder of the certificate of authority,&nbsp;</span></p> <p class="cls2"><span class="cls0">f.&nbsp;&nbsp;the cost of providing the abstract, abstract extension, supplemental abstract or final title report,&nbsp;</span></p> <p class="cls2"><span class="cls0">g.&nbsp;&nbsp;the availability of competition,&nbsp;</span></p> <p class="cls2"><span class="cls0">h.&nbsp;&nbsp;the average cost for such services across the state, and&nbsp;</span></p> <p class="cls2"><span class="cls0">i.&nbsp;&nbsp;any other relevant factor applicable to a particular set of circumstances presented for approval.&nbsp;</span></p> <p><span class="cls0">D. In addition to any other penalty any person, firm, corporation, or other entity violating the provisions of this section shall be subject to a civil penalty of not less than One Hundred Dollars ($100.00) and not more than One Thousand Dollars ($1,000.00) for each occurrence. The fine may be enforced in the same manner in which civil judgments may be enforced.&nbsp;</span></p> <p><span class="cls0">Added by Laws 1984, c. 163, &sect; 19, eff. Nov. 1, 1984. Amended by Laws 2006, c. 269, &sect; 10, eff. July 1, 2007; Laws 2007, c. 359, &sect; 21, eff. Jan. 1, 2008. Renumbered from Title 74, &sect; 227.28 by Laws 2007, c. 359, &sect; 22, eff. Jan. 1, 2008.&nbsp;</span></p> <p class="cls1">&nbsp;</p> <p><span class="cls0">&sect;1-42. Limitation of actions.&nbsp;</span></p> <p><span class="cls0">An action for damages by reason of any imperfect or false abstract hereafter compiled must be brought within five (5) years from the date the abstract certificate was issued.&nbsp;</span></p> <p><span class="cls0">Added by Laws 1984, c. 163, &sect; 20, eff. Nov. 1, 1984. Renumbered from Title 74, &sect; 227.29 by Laws 2007, c. 359, &sect; 22, eff. Jan. 1, 2008.&nbsp;</span></p> <p>&nbsp;</p> <p><span class="cls0">&sect;1-43. Real property purchaser &ndash; Retention of abstract.&nbsp;</span></p> <p><span class="cls0">A purchaser of real property shall have the opportunity to retain possession of the abstract for the property being purchased. The purchaser shall be notified about the option to retain possession at the scheduled closing; however, if a contractual obligation to a mortgage company requires retention of the abstract by that mortgage company, then the purchaser shall have an opportunity to take possession of the abstract upon complete performance of the contractual obligations.&nbsp;</span></p> <p><span class="cls0">Added by Laws 2002, c. 36, &sect; 1, eff. Nov. 1, 2002. Renumbered from Title 74, &sect; 227.30 by Laws 2007, c. 359, &sect; 22, eff. Jan. 1, 2008.&nbsp;</span></p> <p class="cls1">&nbsp;</p> <p>&nbsp;</p> </body> </html>

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