Statutes, codes, and regulations
Oklahoma Statutes
Title 62 - PUBLIC FINANCEChapter 2 - PROVISIONS APPLICABLE TO SUBDIVISIONS OF THE STATE
FARM CREDIT SYSTEM
Section 493 - One year deferment on certain foreclosure actions

Okla. Stat. tit. 62 § 493

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Current through Laws 2024, c. 453.
Section 493 - One year deferment on certain foreclosure actions

There is hereby declared a period of deferment of not longer than one (1) year from the date of the enactment of this act, during which time the Federal Land Bank of Wichita and any Federal Land Bank Association are prohibited from initiating a foreclosure action in the courts of this state. However, nothing in this act shall prohibit the Capital Corporation from initiating a foreclosure action from and after this date so long as the Capital Corporation has determined that the loan or loans held by the borrower or borrowers are ineligible for restructuring assistance.

Okla. Stat. tit. 62, § 493

Added by Laws 1986, c. 188, § 2, emerg. eff. 5/21/1986; Declared Unconstitutional in Federal Land Bank of Wichita v. Story, 1988 OK 52, 756 P.2d 588 (1988.