Notwithstanding any other provision of law, no board referred to in Section 738.1 of Title 59 of the Oklahoma Statutes may bring or maintain any action for declaratory ruling against any person or entity, including any agency of this state, other than licensees of that board or persons holding themselves out as licensees of that board, to determine if any act performed by such person or entity constitutes the unauthorized practice of a healing art regulated by that board.
The provisions of this section shall not be construed to impair or in any manner affect any civil action for a declaratory ruling brought or for any actions arising pursuant to Section 491.1 of Title 59 of the Oklahoma Statutes prior to September 1, 1996. Added by Laws 1996, c. 6, § 1, eff. Sept. 1, 1996.
§59-858-101. Title and construction. This Code shall be known and cited as "The Oklahoma Real Estate License Code". Laws 1974, c. 121, § 101, operative July 1, 1974.
§59-858-102. Definitions. When used in this Code, unless the context clearly indicates otherwise, the following words and terms shall be construed as having the meanings ascribed to them in this section: 1. The term “real estate” shall include any interest or estate in real property, within or without the State of Oklahoma, whether vested, contingent or future, corporeal or incorporeal, freehold or nonfreehold, and including leaseholds, options and unit ownership estates to include condominiums, time-shared ownerships and cooperatives; provided, however, that the term real estate shall not include oil, gas or other mineral interests, or oil, gas or other mineral leases; and provided further, that the provisions of this Code shall not apply to any oil, gas, or mineral interest or lease or the sale, purchase or exchange thereof; 2. The term “broker” shall include any person, partnership, limited liability company, association, corporation, or business entity, foreign or domestic, who for a fee, commission, or other valuable consideration, or who with the intention or expectation of receiving or collecting a fee, commission, or other valuable consideration, performs any of the following acts: a. sells, exchanges, purchases, rents, or leases real estate, b. offers to sell, exchange, purchase, rent, or lease real estate, c. negotiates or attempts to negotiate the listing, sale, exchange, purchase, rent, or lease of real estate, d. lists or offers, attempts, or agrees to list real estate for sale, exchange, rent or lease, e. auctions or offers, attempts, or agrees to auction real estate, f. controls the acceptance or deposit of rent from a resident of a single-family residential real property unit, g. solicits listings of places for rent or lease, h. solicits for prospective tenants, purchasers, or sellers, or
i. advertises or holds himself or herself out as engaged in such activities; 3. The term “broker associate” shall include any person who has qualified for a license as a broker associate, and who is employed or engaged by, associated as an independent contractor with, or on behalf of and with the permission of a broker to perform any act set out in the definition of a broker; 4. The term “business day” means any calendar day except for Saturday, Sunday, or any public holiday recognized by state or federal law; 5. The term “contract” means any agreement or arrangement, including power of attorney, for the purchase, sale, or assignment of real estate; 6. The term “homeowner” means any individual, entity, trust, or partnership holding title to residential property; 7. The term “real estate sales associate” shall include any person having a renewable license and employed or engaged by, or associated as an independent contractor with, or on behalf of, a broker to do or deal in any act, acts or transactions set out in the definition of a broker; 8. “Provisional sales associate” shall include any person who has been licensed after June 30, 1993, employed or engaged by, or associated as an independent contractor with, or on behalf of, a broker to do or deal in any act, acts or transactions set out in the definition of a broker and subject to an additional forty-five- clock-hour postlicensing educational requirement to be completed within the first twelve-month license term. However, the Oklahoma Real Estate Commission shall promulgate rules for those persons called into active military service for purposes of satisfying the postlicensing educational requirement. The license of a provisional sales associate shall be nonrenewable unless the postlicensing requirement is satisfied prior to the expiration date of the license. Further, the terms sales associate and provisional sales associate shall be synonymous in meaning except where specific exceptions are addressed in the Oklahoma Real Estate License Code; 9. The term “successful completion” shall include prelicense, postlicense, and distance education courses in which an approved public or private school entity has examined the individual, to the satisfaction of the entity and standards as established by the Commission, in relation to the course material presented during the offering; 10. The term “renewable license” shall refer to a broker, broker associate or sales associate who is a holder of such license or to a provisional sales associate who has completed the educational requirements within the required time period as stated in the Code;
11. The term “nonrenewable license” shall refer to a provisional sales associate who is the holder of such license and who has not completed the postlicense educational requirement within the required time period as stated in the Code; 12. The term “surrendered license” shall refer to a real estate license which is surrendered, upon the request of the licensee, due to a pending investigation or disciplinary proceedings; 13. The term “canceled license” shall refer to a real estate license which is canceled, upon the request of the licensee and approval of the Commission, due to a personal reason or conflict; 14. The term “publicly market” shall include all advertisements and marketing conducted in a public or open manner or place; 15. “Licensee” shall include any person who performs any act, acts or transactions set out in the definition of a broker and licensed under the Oklahoma Real Estate License Code; 16. The word “Commission” shall mean the Oklahoma Real Estate Commission; 17. The word “person” shall include and mean every individual, partnership, association or corporation, foreign or domestic; 18. Masculine words shall include the feminine and neuter, and the singular includes the plural; 19. The word “associate” shall mean a broker associate, sales associate or provisional sales associate; and 20. The term “wholesaler” means any individual or entity engaging in the business of securing, negotiating, or facilitating the sale of residential real estate for the primary purpose of transferring, assigning, or selling their equitable interest in the property, directly or indirectly, for financial profit. This includes any person or entity that: a. enters into a contract to purchase residential real estate with the intent of assigning or selling the contractual rights to another party before taking possession or legal ownership of such residential real estate, and b. engages in double closing. As used in this paragraph, “double closing” means the wholesaler simultaneously closes two separate transactions on the same property, one with the original seller and one with the end buyer, without the intent to reside in or otherwise materially improve such residential real estate. Added by Laws 1974, c. 121, § 102, operative July 1, 1974. Amended by Laws 1991, c. 43, § 2, eff. July 1, 1993; Laws 1992, c. 94, § 1, eff. July 1, 1993; Laws 1994, c. 149, § 1, eff. July 1, 1994; Laws 1998, c. 60, § 1, eff. Jan. 1, 1999; Laws 1999, c. 26, § 1, eff. Nov. 1, 1999; Laws 2001, c. 235, § 1, eff. Aug. 1, 2001; Laws 2004, c. 142, § 1, eff. Nov. 1, 2004; Laws 2017, c. 248, § 1, eff. Nov. 1,
2017; Laws 2024, c. 159, § 1, eff. Nov. 1, 2024; Laws 2025, c. 301, § 1, eff. Nov. 1, 2025.
§59-858-201. Oklahoma Real Estate Commission. A. There is hereby re-created the Oklahoma Real Estate Commission, which shall consist of seven (7) members. The Commission shall be the sole governmental entity, state, county or municipal, which shall have the authority to regulate and issue real estate licenses in the State of Oklahoma. B. All members of the Commission shall be citizens of the United States and shall have been residents of the State of Oklahoma for at least three (3) years prior to their appointment. C. Five members shall be licensed real estate brokers and shall have had at least five (5) years’ active experience as real estate brokers prior to their appointment and be engaged full time in the real estate brokerage business. One member shall be a lay person not in the real estate business, and one member shall be an active representative of a school of real estate located within the State of Oklahoma and approved by the Oklahoma Real Estate Commission. For purposes of this paragraph, “brokers” shall be limited to the license types of managing broker, proprietor broker, or branch broker. D. No more than two members shall be appointed from the same congressional district according to the latest congressional redistricting act. However, when congressional districts are redrawn, each member appointed prior to July 1 of the year in which such modification becomes effective shall complete the current term of office and appointments made after July 1 of the year in which such modification becomes effective shall be based on the redrawn districts. No appointments may be made after July 1 of the year in which such modification becomes effective if such appointment would result in more than two members serving from the same modified district. Added by Laws 1974, c. 121, § 201, operative July 1, 1974. Amended by Laws 1979, c. 122, § 1, emerg. eff. May 1, 1979; Laws 1982, c. 194, § 1, emerg. eff. April 26, 1982; Laws 1985, c. 231, § 1, operative July 1, 1985; Laws 1991, c. 39, § 1, emerg. eff. April 3, 1991; Laws 1991, c. 335, § 17, emerg. eff. June 15, 1991; Laws 1994, c. 76, § 1, eff. July 1, 1994; Laws 1997, c. 38, § 1; Laws 1998, c. 60, § 2, eff. Jan. 1, 1999; Laws 2002, c. 375, § 9, eff. Nov. 5, 2002; Laws 2003, c. 229, § 2, emerg. eff. May 20, 2003; Laws 2009, c. 19, § 1; Laws 2013, c. 296 § 1, emerg. eff. May 16, 2013; Laws 2017, c. 297, § 1; Laws 2021, c. 558, § 6, eff. July 1, 2021; Laws 2024, c. 14, § 1; Laws 2024, c. 159, § 2, eff. Nov. 1, 2024. NOTE: Laws 1991, c. 43, § 1 repealed by Laws 1991, c. 335, § 37, emerg. eff. June 15, 1991. Laws 2003, c. 13, § 1 repealed by Laws 2003, c. 229, § 10, emerg. eff. May 20, 2003.
§59-858-202. Appointment - Tenure - Vacancies - Removal.
A. Members of the Oklahoma Real Estate Commission shall be appointed by the Governor with the advice and consent of the Senate. B. Members of the Commission shall serve until their terms expire. The terms of the Commission members shall be for four (4) years and until their successors are appointed and qualified. C. Each successor member and any vacancy which may occur in the membership of the Commission shall be filled by appointment of the Governor with the advice and consent of the Senate. D. The Governor may select appointees from a list of not less than two qualified persons submitted by a statewide organization representing realtors. E. Each person who shall have been appointed to fill a vacancy shall serve for the remainder of the term for which the member whom he or she will succeed was appointed and until his or her successor, in turn, shall have been appointed and shall have qualified. F. Members of the Commission may be removed from office by the Governor for inefficiency, neglect of duty or malfeasance in office in the manner provided by law for the removal of officers not subject to impeachment. Added by Laws 1974, c. 121, § 202, operative July 1, 1974. Amended by Laws 1982, c. 194, § 2, emerg. eff. April 26, 1982; Laws 1985, c. 231, § 2, operative July 1, 1985; Laws 1998, c. 60, § 3, eff. Jan. 1, 1999; Laws 2007, c. 42, § 1, eff. Jan. 1, 2008; Laws 2015, c. 25, § 1, eff. Nov. 1, 2015.
§59-858-204. Officers - Employees - Duties and compensation - Meetings. A. The members of the Commission, within thirty (30) days after their appointment, shall organize and elect a chairman and vice- chairman. Annually thereafter the offices of chairman and vice- chairman shall be attained through election by Commission members. B. The Commission, as soon after the election of the chairman and vice-chairman as practicable, shall employ a secretary-treasurer and such clerks and assistants as shall be deemed necessary to discharge the duties imposed by the provisions of this Code, and shall determine their duties and fix their compensation subject to the general laws of this state. C. The chairman of the Commission, and in his absence the vice- chairman, shall preside at all meetings of the Commission and shall
execute such duties as the Commission, by its rules, shall prescribe. D. The secretary-treasurer shall keep a complete and permanent record of all proceedings of the Commission and perform such other duties as the Commission shall prescribe. Added by Laws 1974, c. 121, § 204, operative July 1, 1974. Amended by Laws 1982, c. 194, § 3, emerg. eff. April 26, 1982; Laws 1998, c. 60, § 4, eff. Jan. 1, 1999.
§59-858-205. Oklahoma Real Estate Commission Revolving Fund. A. There is hereby created in the State Treasury a revolving fund for the Oklahoma Real Estate Commission, to be designated the "Oklahoma Real Estate Commission Revolving Fund". The fund shall consist of all monies received by the Oklahoma Real Estate Commission other than the Oklahoma Real Estate Education and Recovery Fund fees or appropriated funds. The revolving fund shall be a continuing fund not subject to fiscal year limitations and shall be under the control and management of the Oklahoma Real Estate Commission. B. 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 General Operating Fund of the Oklahoma Real Estate Commission. All monies accruing to the credit of the fund are hereby appropriated and may be budgeted and expended by the Oklahoma Real Estate Commission. C. Expenditures from this fund shall be made pursuant to the purposes of this Code and without legislative appropriation. Warrants for expenditures shall be drawn by the State Treasurer based on claims signed by an authorized employee or employees of the Oklahoma Real Estate Commission and approved for payment by the Director of the Office of Management and Enterprise Services. Added by Laws 1974, c. 121, § 205, operative July 1, 1974. Amended by Laws 1977, c. 182, § 1, eff. July 1, 1977; Laws 1979, c. 47, § 39, emerg. eff. April 9, 1979; Laws 1992, c. 94, § 2, eff. July 1, 1992; Laws 1998, c. 60, § 5, eff. Jan. 1, 1999; Laws 2010, c. 413, § 19, eff. July 1, 2010; Laws 2012, c. 304, § 268.
§59-858-206. Suits - Service - Seal - Certified copies - Location of office. A. The Commission may sue and be sued in its official name, and service of summons upon the secretary-treasurer of the Commission shall constitute lawful service upon the Commission. B. The Commission shall have a seal which shall be affixed to all licenses, certified copies of records and papers on file, and to
such other instruments as the Commission may direct, and all courts shall take judicial notice of such seal. C. Copies of records and proceedings of the Commission and all papers on file in the office, certified under the seal, shall be received as evidence in all courts of record. D. The office of the Commission shall be at Oklahoma City, Oklahoma. Added by Laws 1974, c. 121, § 206, operative July 1, 1974. Amended by Laws 1998, c. 60, § 6, eff. Jan. 1, 1999.
§59-858-207. Annual report of fees. The Commission shall at the close of each fiscal year file with the Governor and State Auditor and Inspector a true and correct report of all fees charged, collected and received during the previous fiscal year, and shall pay into the General Revenue Fund of the State Treasury ten percent (10%) of the license fees collected and received during the fiscal year. Amended by Laws 1982, c. 194, § 4, emerg. eff. April 26, 1982; Laws 1983, c. 289, § 1, emerg. eff. June 24, 1983; Laws 1985, c. 231, § 4, operative July 1, 1985; Laws 1990, c. 264, § 125, operative July 1, 1990.
§59-858-208. Powers and duties of Commission. The Oklahoma Real Estate Commission shall have the following powers and duties: 1. To promulgate rules, prescribe administrative fees by rule, and make orders as it may deem necessary or expedient in the performance of its duties; 2. To administer or cause to be administered examinations to persons who apply for the issuance of licenses; 3. To sell to other entities or governmental bodies, not limited to the State of Oklahoma, computer testing and license applications to recover expended research and development costs; 4. To issue licenses in the form the Commission may prescribe to persons who have passed examinations or who otherwise are entitled to such licenses; 5. To issue licenses to and regulate the activities of real estate brokers, provisional sales associates, sales associates, branch offices, nonresidents, associations, corporations, and partnerships; 6. Upon showing good cause as provided for in The Oklahoma Real Estate License Code, to discipline licensees, instructors and real estate school entities by: a. reprimand, b. probation for a specified period of time,
c. requiring education in addition to the educational requirements provided by Section 858-307.2 of this title, d. suspending real estate licenses and approvals for specified periods of time, e. revoking real estate licenses and approvals, f. imposing administrative fines pursuant to Section 858- 402 of this title, or g. any combination of discipline as provided by subparagraphs a through f of this paragraph; 7. Upon showing good cause, to modify any sanction imposed pursuant to the provisions of this section and to reinstate licenses; 8. To conduct, for cause, disciplinary proceedings; 9. To prescribe penalties as it may deem proper to be assessed against licensees for the failure to pay the license renewal fees as provided for in this Code; 10. To initiate the prosecution of any person who violates any of the provisions of this Code; 11. To approve instructors and organizations offering courses of study in real estate and to further require them to meet standards to remain qualified as is necessary for the administration of this Code; 12. To contract with attorneys and other professionals to carry out the functions and purposes of this Code; 13. To apply for injunctions and restraining orders to enforce the provisions of applicable laws, rules, and regulations for violations of the Code or the rules of the Commission; 14. To create an Oklahoma Real Estate Contract Form Committee by rule that will be required to draft and revise real estate purchase and/or lease contracts and any related addenda for voluntary use by real estate licensees; 15. To enter into contracts and agreements for the payment of food and other reasonable expenses as authorized in the State Travel Reimbursement Act necessary to host, conduct, or participate in meetings or training sessions as is reasonable for the administration of this Code; 16. To conduct an annual performance review of the Executive Director and submit the report to the Legislature; 17. To enter into reciprocal agreements with other real estate licensing regulatory jurisdictions with equivalent licensing, education and examination requirements; 18. To issue cease and desist orders to any person or business entity that is in violation of any provision of the Oklahoma Real Estate License Code or administrative rule; and 19. To contract with debt collection attorneys or debt collection entities to recover unpaid administrative fines.
Added by Laws 1974, c. 121, § 208, operative July 1, 1974. Amended by Laws 1980, c. 165, § 1, eff. Oct. 1, 1980; Laws 1984, c. 74, § 1, eff. Nov. 1, 1984; Laws 1989, c. 235, § 2, emerg. eff. May 12, 1989; Laws 1990, c. 264, § 126, operative July 1, 1990; Laws 1991, c. 43, § 3, eff. July 1, 1993; Laws 1993, c. 54, § 1, eff. Sept. 1, 1993; Laws 1994, c. 149, § 2, eff. July 1, 1995; Laws 1996, c. 159, § 1, eff. Nov. 1, 1996; Laws 2001, c. 235, § 2, eff. Aug. 1, 2001; Laws 2005, c. 85, § 1, eff. Nov. 1, 2005; Laws 2007, c. 42, § 2, eff. Jan. 1, 2008; Laws 2008, c. 274, § 1, eff. Nov. 1, 2008; Laws 2024, c. 159, § 3, eff. Nov. 1, 2024.
§59-858-209. Compliance with the Administrative Procedures Act. A. In the exercise of all powers and the performance of all duties provided in this Code, the Commission shall comply with the procedures provided in the Administrative Procedures Act. Appeals shall be taken as provided in said act. B. The Commission may designate and employ a hearing examiner or examiners who shall have the power and authority to conduct such hearings in the name of the Commission at any time and place subject to the provisions of this section and any applicable rules or orders of the Commission. No person shall serve as a hearing examiner in any proceeding in which any party to the proceeding is, or at any time has been, a client of the hearing examiner or of any firm, partnership or corporation with which the hearing examiner is, or at any time has been, associated. No person who acts as a hearing examiner shall act as attorney for the Commission in any court proceeding arising out of any hearing in which he acted as hearing examiner. C. In any hearing before the Commission, the burden of proof shall be upon the moving party. Added by Laws 1974, c. 121, § 209, operative July 1, 1974. Amended by Laws 1998, c. 60, § 7, eff. Jan. 1, 1999.
§59-858-301. License required – Exceptions. It shall be unlawful for any person to act as a real estate licensee, or to hold himself or herself out as such, unless the person shall have been licensed to do so under the Oklahoma Real Estate License Code. For the purposes of this section, it shall be considered acting as a real estate licensee for any person, partnership, trust, association, limited liability company, or corporation, or the partners, officers or employees of any partnership, trust, association, limited liability company, or corporation, to publicly market for sale an equitable interest in a contract for the purchase of real property between a property owner and a prospective purchaser. However, nothing in this section shall:
1. Prevent any person, partnership, trust, association, limited liability company, or corporation, or the partners, officers or employees of any partnership, trustees or beneficiaries of any trust, association, limited liability company, or corporation, from: a. acquiring real estate for its own use, b. selling, renting, leasing, exchanging, or offering to sell, rent, lease, or exchange any real estate so owned or leased as the owner, lessor, or lessee, or c. performing any acts with respect to such real estate when such acts are performed in the regular course of, or as an incident to, the management, ownership, or sales of such real estate and the investment therein; however, it shall be prohibited for any person, partnership, trust, association, limited liability company, or corporation, or the officers or employees of any partnership, trustees, or beneficiaries of any trust, association, limited liability company, or corporation to publicly market for sale an equitable interest in a contract for the purchase of real property between a property owner and a prospective purchaser without holding an active real estate license; 2. Apply to persons acting as the attorney-in-fact for the owner of any real estate authorizing the final consummation by performance of any contract for the sale, lease or exchange of such real estate; 3. In any way prohibit any attorney-at-law from performing the duties of the attorney as such, nor shall this Code prohibit a receiver, trustee in bankruptcy, administrator, executor, or his or her attorney, from performing his or her duties, or any person from performing any acts under the order of any court, or acting as a trustee under the terms of any trust, will, agreement or deed of trust; 4. Apply to any person acting as the resident manager for the owner or an employee acting as the resident manager for a licensed real estate broker managing an apartment building, duplex, apartment complex or court, when such resident manager resides on the premises and is engaged in the leasing of property in connection with the employment of the resident manager; 5. Apply to any person who engages in such activity on behalf of a corporation or governmental body, to acquire easements, rights- of-way, leases, permits and licenses, including any and all amendments thereto, and other similar interests in real estate, for the purpose of, or facilities related to, transportation, communication services, cable lines, utilities, pipelines, or oil, gas, and petroleum products;
6. Apply to any person who engages in such activity in connection with the acquisition of real estate on behalf of an entity, public or private, which has the right to acquire the real estate by eminent domain; 7. Apply to any person who is a resident of an apartment building, duplex, or apartment complex or court, when the person receives a resident referral fee. As used in this paragraph, a “resident referral fee” means a nominal fee not to exceed One Hundred Dollars ($100.00), offered to a resident for the act of recommending the property for lease to a family member, friend, or coworker; 8. Apply to any person or entity managing a transient lodging facility. For purposes of this paragraph, “transient lodging facility” means a furnished room or furnished suite of rooms which is rented to a person on a daily basis, not as a principal residence, for a period less than thirty (30) days; or 9. Apply to employees of a licensed real estate broker who lease residential housing units only to eligible persons who qualify through a state or federal housing subsidized program to lease the property in an affordable housing development project. “Affordable housing development project” means a housing development of four or more units constructed for lease to specifically eligible persons as required by the particular federal or state housing program, including, but not limited to, the U.S. Department of Housing and Urban Development, the U.S. Department Agriculture Rural Development, the U.S. Department of Treasury Internal Revenue Service, or the Oklahoma Housing Finance Agency. Added by Laws 1974, c. 121, § 301, operative July 1, 1974. Amended by Laws 1977, c. 68, § 1; Laws 1997, c. 401, § 13, eff. Nov. 1, 1997; Laws 1998, c. 60, § 8, eff. Jan. 1, 1999; Laws 2006, c. 313, § 1, eff. Nov. 1, 2006; Laws 2007, c. 174, § 1, eff. Nov. 1, 2007; Laws 2010, c. 114, § 1, eff. July 1, 2010; Laws 2011, c. 236, § 1; Laws 2021, c. 378, § 1, eff. Nov. 1, 2021; Laws 2024, c. 159, § 4, eff. Nov. 1, 2024.
§59-858-301.1. Eligibility for license - Applicants convicted of criminal offenses - Time periods for disqualification - Procedure – Definitions. A. Any applicant convicted of any crimes defined in Section 13.1 of Title 21 of the Oklahoma Statutes shall not be eligible to obtain a real estate license within twenty (20) years of the completion of any criminal sentence, including parole and probation. B. Any applicant convicted of a felony crime that substantially relates to the occupation of a real estate agent and poses a reasonable threat to public safety shall not be eligible to obtain a real estate license within ten (10) years of the completion of any criminal sentence, including parole and probation.
C. For the purposes of this section, the term "applicant" shall mean any person making an application for original licensure as a provisional sales associate, sales associate, broker associate, or broker, and shall not apply to any licensee seeking renewal of a current license. D. Any applicant with a felony conviction shall not automatically receive a license after the timelines set forth in this section, but may be licensed in accordance with the licensing provisions set forth in the Oklahoma Real Estate License Code and Rules. E. As used in this section: 1. "Substantially relates" means the nature of criminal conduct for which the person was convicted has a direct bearing on the fitness or ability to perform one or more of the duties or responsibilities necessarily related to the occupation; and 2. "Poses a reasonable threat" means the nature of criminal conduct for which the person was convicted involved an act or threat of harm against another and has a bearing on the fitness or ability to serve the public or work with others in the occupation. Added by Laws 2009, c. 133, § 1, eff. Nov. 1, 2009. Amended by Laws 2019, c. 363, § 32, eff. Nov. 1, 2019.
§59-858-301.2. Notification of Commission of conviction or plea of guilty or nolo contendere to felony offense. Every licensed person pursuant to the provisions of the Oklahoma Real Estate License Code shall notify the Commission in writing of the conviction or plea of guilty or nolo contendere to any felony offense within thirty (30) days after the plea is taken and also within thirty (30) days of the entering of an order of judgment and sentencing. Added by Laws 2009, c. 133, § 2, eff. Nov. 1, 2009.
§59-858-302. Eligibility for license as provisional sales associate - Qualifications - Examination - Posteducation requirement. A. Any person eighteen (18) years of age or older who shall submit to the Commission evidence of successful completion of ninety (90) clock hours or its equivalent as determined by the Commission of basic real estate instruction in a course of study approved by the Commission, may apply to the Commission to take an examination for the purpose of securing a license as a provisional sales associate. The education required in this subsection shall only be valid for a period of three (3) years from the date the school certified successful completion of the course; thereafter, the applicant shall be required to successfully complete an additional ninety (90) clock hours or its equivalent in basic real estate instruction.
B. Application shall be made upon forms prescribed by the Commission and shall be accompanied by an application fee as provided for in this Code and all information and documents the Commission may require. C. The applicant shall appear in person before the Commission for an examination which shall be in the form and inquire into the subjects the Commission shall prescribe. D. If it shall be determined that the applicant shall have passed the examination, received final approval of the application, and paid the appropriate license fee provided for in this Code along with the Oklahoma Real Estate Education and Recovery Fund fee, the Commission shall issue to the applicant a provisional sales associate license. E. Following the issuance of a provisional sales associate license, the licensee shall then submit to the Commission, prior to the expiration of the provisional license, evidence of successful completion of forty-five (45) clock hours or its equivalent as determined by the Commission of postlicense education real estate instruction in a course(s) of study approved by the Commission. A provisional sales associate who fails to submit evidence of compliance with the postlicense education requirement pursuant to this section, prior to the first expiration date of the provisional sales associate license, shall not be entitled to renew such license for another license term. However, the Commission shall promulgate rules for those persons called into active military service for purposes of satisfying the postlicense education requirement. Added by Laws 1974, c. 121, § 302, operative July 1, 1974. Amended by Laws 1977, c. 182, § 3, eff. July 1, 1977; Laws 1980, c. 165, § 2, eff. July 1, 1981; Laws 1991, c. 43, § 4, eff. July 1, 1993; Laws 1998, c. 60, § 9, eff. Jan. 1, 1999; Laws 2004, c. 142, § 2, eff. Nov. 1, 2004; Laws 2005, c. 59, § 1, eff. Nov. 1, 2006; Laws 2013, c. 173, § 1, eff. Nov. 1, 2013; Laws 2019, c. 363, § 33, eff. Nov. 1, 2019; Laws 2024, c. 159, § 5, eff. Nov. 1, 2024.
§59-858-303. Eligibility for license as real estate broker - Examination. A. Applicants for a broker license who hold a sales associate license or are not currently licensed shall meet the following requirements: 1. Have two (2) years’ of active licensure within the previous five (5) years or its equivalent; 2. Submit to the Commission evidence of successful completion of ninety (90) clock hours or its equivalent as determined by the Commission of advanced real estate instruction in a course of study approved by the Commission and completion of the Broker in Charge course as defined in the Code. The education required in this subsection shall only be valid for a period of three (3) years from
the date the school certified successful completion of the course; thereafter, the applicant shall be required to successfully complete an additional ninety (90) clock hours or its equivalent in advanced real estate instruction; 3. Provide documentation verifying ten real estate transactions within the past five (5) years or the equivalent as determined by the Commission. For the purposes of this subsection only, transaction shall be defined as the completed sale, exchange, purchase, or lease of real estate and shall be demonstrated on forms developed by the Commission; and 4. Apply to the Commission to take an examination for the purpose of securing a license as a broker. B. Application shall be made upon forms prescribed by the Commission and shall be accompanied by fees as provided for in this Code and all information and documents the Commission may require. C. If the applicant has passed the examination, received final approval of the application, and paid the appropriate fees provided for in this Code along with the Oklahoma Real Estate Education and Recovery Fund fee, the Commission shall issue to the applicant a broker license. D. Applicants for a broker license who hold a broker associate license shall meet the following requirements: 1. Have two (2) years’ active licensure within the previous five (5) years, or its equivalent; 2. Submit to the Commission evidence of successful completion of the Broker in Charge course as defined in the Code; and 3. Provide documentation verifying ten real estate transactions within the past five (5) years or the equivalent as determined by the Commission. For the purposes of this subsection only, transaction shall be defined as the completed sale, exchange, purchase, or lease of real estate and shall be demonstrated on forms developed by the Commission. E. Application shall be made upon forms prescribed by the Commission and shall be accompanied by fees as provided for in this Code and all information and documents the Commission may require. F. If the applicant has received final approval of the application, and paid the appropriate fee provided for in this Code along with the Oklahoma Real Estate Education and Recovery Fund fee, the Commission shall issue to the applicant a broker license. Added by Laws 1974, c. 121, § 303, operative July 1, 1974. Amended by Laws 1977, c. 182, § 4, eff. July 1, 1977; Laws 1980, c. 165, § 3, eff. July 1, 1981; Laws 1982, c. 194, § 5, emerg. eff. April 26, 1982; Laws 1991, c. 43, § 5, eff. July 1, 1993; Laws 1992, c. 94, § 3, eff. July 1, 1993; Laws 1998, c. 60, § 10, eff. Jan. 1, 1999; Laws 2005, c. 59, § 2, eff. Nov. 1, 2006; Laws 2013, c. 173, § 2, eff. Nov. 1, 2013; Laws 2014, c. 108, § 1, eff. Nov. 1, 2014; Laws
2017, c. 248, § 2, eff. Nov. 1, 2017; Laws 2019, c. 363, § 34, eff. Nov. 1, 2019; Laws 2024, c. 159, § 6, eff. Nov. 1, 2024.
§59-858-303A. Eligibility for license as a broker associate. A. Applicants for a broker associate license shall meet the following requirements: 1. Hold a renewable broker associate or sales associate license and have two (2) years’ active licensure within the previous five (5) years as a sales associate or provisional sales associate, or its equivalent; 2. Submit to the Commission evidence of successful completion of ninety (90) clock hours, or its equivalent as determined by the Commission, of advanced real estate instruction in a course of study approved by the Commission. The education required in this subsection shall only be valid for a period of three (3) years from the date the school certified successful completion of the course; thereafter, the applicant shall be required to successfully complete an additional ninety (90) clock hours or its equivalent in advanced real estate instruction; and 3. Apply to the Commission to take an examination for the purpose of securing a license as a broker associate. B. Application shall be made upon forms prescribed by the Commission and shall be accompanied by fees as provided for in this Code and all information and documents the Commission may require. C. The applicant shall appear in person for an examination which shall be prescribed by the Commission. D. If the applicant has passed the examination, received final approval of the application, and paid the appropriate fees provided for in this Code along with the Oklahoma Real Estate Education and Recovery Fund fee, the Commission shall issue to the applicant a broker associate license. Added by Laws 2017, c. 248, § 3, eff. Nov. 1, 2017. Amended by Laws 2019, c. 363, § 35, eff. Nov. 1, 2019; Laws 2024, c. 159, § 7, eff. Nov. 1, 2024.
§59-858-303B. Accounting of expenditure for services. Any real estate broker who charges and collects any fees in advance of the services provided by the broker shall provide a detailed accounting of expenditures to the person such services are performed for within ten (10) days after the time specified to perform such services or upon written request from person for whom services are performed for, but no longer than one (1) year from date of contract for such services. Added by Laws 1985, c. 231, § 6, operative July 1, 1985.
§59-858-304. Evidence of successful completion of basic or advanced real estate instruction - Syllabus of instruction.
A. A certified transcript from an institution of higher education, accredited by the Oklahoma State Regents for Higher Education or the corresponding accrediting agency of another state, certifying to the successful completion of a six-academic-hour basic course of real estate instruction, or its equivalent, for which college credit was given, shall be prima facie evidence of successful completion of the clock hours of basic real estate instruction for a provisional sales associate applicant as required in Section 858-302 of this Code. The education required in this subsection shall only be valid for a period of three (3) years from the date the school certified successful completion of the course; thereafter, the applicant shall be required to successfully complete an additional six-academic-hour basic course of real estate instruction, or its equivalent. B. A certified transcript from an institution of higher education, accredited by the Oklahoma State Regents for Higher Education or the corresponding accrediting agency of another state, certifying to the successful completion of a three-academic-hour course of real estate instruction, or its equivalent, consisting of the provisional sales associate postlicense education requirements for which college credit was given, shall be prima facie evidence of successful completion of the clock hours of real estate instruction for the postlicense education requirement as required in Section 858-302 of this title. C. A certified transcript from an institution of higher education, accredited by the Oklahoma State Regents for Higher Education or the corresponding agency of another state, certifying to the successful completion of a six-academic-hour advanced course of real estate instruction, or its equivalent, for which college credit was given, shall be prima facie evidence of successful completion of the clock hours of advanced real estate instruction, or its equivalent, as required in Section 858-303 of this Code for a broker applicant. D. Each school, whether public or private other than institutions of higher education, must present to the Commission its syllabus of instruction, prior to approval of such school. Added by Laws 1974, c. 121, § 304, operative July 1, 1974. Amended by Laws 1980, c. 165, § 4, eff. Oct. 1, 1980; Laws 1991, c. 43, § 6, eff. July 1, 1993; Laws 1992, c. 94, § 4, eff. July 1, 1993; Laws 1998, c. 60, § 11, eff. Jan. 1, 1999; Laws 2008, c. 274, § 2, eff. Nov. 1, 2008; Laws 2013, c. 173, § 3, eff. Nov. 1, 2013.
§59-858-305. Licensing of associations, corporations and partnerships - Registration of brokerage teams. A. The Oklahoma Real Estate Commission may license as a broker any association or corporation in which the managing member or managing officer holds a license as a real estate broker, as defined
in this Code, and in which every member, officer or employee who acts as a real estate broker or real estate sales associate holds a license for that purpose, as defined in this Code. The Commission may license as a real estate broker any partnership in which each partner holds a license as a real estate broker, as defined in this Code. B. The Oklahoma Real Estate Commission shall require the registration of all teams affiliated under a brokerage for the purpose of allowing the Commission to better align and track the teams within each brokerage. For the purposes of this section, a team shall mean any two or more licensees who work under the supervision of the same broker, work together on real estate transactions to provide brokerage services, represent themselves to the public as being part of a team, and are designated by a team name. Such registration shall occur before a team performs any licensed activities, and the broker shall notify the Commission when any team name is no longer being used. The Commission may charge a registration fee for each team not to exceed the administrative costs of the registration process. C. Application for licenses and registrations described in this section shall be made on forms prescribed by the Commission and shall be issued pursuant to rules promulgated by the Commission. Added by Laws 1974, c. 121, § 305, operative July 1, 1974. Amended by Laws 1996, c. 159, § 2, eff. Nov. 1, 1996; Laws 2017, c. 248, § 4, eff. Nov. 1, 2017.
§59-858-306. Licensing of nonresidents. A. Any person who desires to perform licensed activities in Oklahoma but maintains a place of business outside of Oklahoma may obtain an Oklahoma nonresident license by complying with all applicable provisions of this Code including the successful completion of the applicable Oklahoma state portion of the real estate examination. B. The nonresident shall give written consent that actions and suits at law may be commenced against the nonresident licensee in any county in this state wherein any cause of action may arise or be claimed to have arisen out of any transaction occurring in the county because of any transactions commenced or conducted by the nonresident or the nonresident's associates or employees in such county. The nonresident shall further, in writing, appoint the secretary-treasurer of said Commission as service agent to receive service of summons for the nonresident in all of such actions and service upon the secretary-treasurer of such Commission shall be held to be sufficient to give the court jurisdiction over the nonresident in all such actions. C. A broker who is duly licensed in another state and who has not obtained an Oklahoma nonresident license may enter a cooperative
brokerage agreement with a licensed real estate broker in this state. If, however, the broker desires to perform licensed activities in this state, the broker must obtain an Oklahoma nonresident license. Added by Laws 1974, c. 121, § 306, operative July 1, 1974. Amended by Laws 1991, c. 43, § 7, eff. July 1, 1993; Laws 1998, c. 60, § 12, eff. Jan. 1, 1999; Laws 2008, c. 274, § 3, eff. Nov. 1, 2008.
§59-858-307.1. Issuance of license - Term - Fees. The Oklahoma Real Estate Commission shall issue every real estate license for a term of thirty-six (36) months with the exception of a provisional sales associate license whose license term shall be for twelve (12) months. License terms shall not be altered except for the purpose of general reassignment of the terms which might be necessitated for maintaining an equitable staggered license term system. The expiration date of the license shall be the end of the twelfth or thirty-sixth month, whichever is applicable, including the month of issuance. Fees shall be promulgated by rule, payable in advance, and nonrefundable. Added by Laws 1980, c. 165, § 5, eff. July 1, 1981. Amended by Laws 1985, c. 231, § 5, operative July 1, 1985; Laws 1989, c. 235, § 3, emerg. eff. May 12, 1989; Laws 1991, c. 43, § 8, eff. July 1, 1993; Laws 1998, c. 60, § 13, eff. Jan. 1, 1999; Laws 2001, c. 235, § 3, eff. Aug. 1, 2001; Laws 2024, c. 159, § 9, eff. Nov. 1, 2024.
§59-858-307.2. Renewal of license - Continuing education requirement. A. Beginning November 1, 2004, as a condition of renewal or reactivation of a real estate license, each licensee with the exception of those exempt as set out in this section shall submit to the Oklahoma Real Estate Commission evidence of completion of a specified number of hours of continuing education courses approved by the Commission, within the thirty-six (36) months immediately preceding the term for which the license is to be issued. The number of hours, or its equivalent, required for each licensed term shall be determined by the Commission and promulgated by rule. Each licensee shall be required to complete and include as part of such continuing education a certain number of required subjects as prescribed by rule. B. The continuing education courses required by this section shall be satisfied by courses approved by the Commission and offered by: 1. The Commission; 2. A technology center school; 3. A college or university; 4. A private school;
5. The Oklahoma Association of Realtors, the National Association of Realtors, or any affiliate thereof; 6. The Oklahoma Bar Association, American Bar Association, or any affiliate thereof; or 7. An education provider. C. The Commission shall maintain a list of courses which are approved by the Commission. D. The Commission shall not issue an active renewal license or reactivate a license unless the continuing education requirement set forth in this section is satisfied within the prescribed time period. E. The provisions of this section do not apply: 1. During the period a license is on inactive status; 2. To a licensee who holds a provisional sales associate license; 3. To a nonresident licensee licensed in this state if the licensee maintains a current license in another state or states and has satisfied the continuing education requirement for license renewal in that state or states. If the nonresident licensee is exempt from the continuing education requirements in all states where the nonresident holds a license, the nonresident licensee shall successfully complete this state’s continuing education requirement for license renewal or reactivation; or 4. To a corporation, association, partnership, or branch office. F. The Commission shall require each licensee to receive a specified number of hours of continuing education courses on deed theft, as defined in Section 858-351 of this title. Each licensee shall be required to complete such continuing education on or before November 1, 2028. Added by Laws 1980, c. 165, § 6, eff. July 1, 1984. Amended by Laws 1983, c. 289, § 2, emerg. eff. June 24, 1983; Laws 1984, c. 16, § 1, emerg. eff. March 20, 1984; Laws 1991, c. 43, § 9, eff. July 1, 1993; Laws 1992, c. 94, § 5, eff. July 1, 1993; Laws 1994, c. 149, § 3, eff. July 1, 1994; Laws 1998, c. 60, § 14, eff. Jan. 1, 1999; Laws 2001, c. 33, § 48, eff. July 1, 2001; Laws 2001, c. 235, § 4, eff. Nov. 1, 2001; Laws 2008, c. 274, § 4, eff. Nov. 1, 2008; Laws 2011, c. 29, § 1, eff. Nov. 1, 2011; Laws 2025, c. 417, § 1, eff. Nov. 1, 2025.
§59-858-307.3. Application for reissuance of license after revocation. A person shall not be permitted to file an application for reissuance of a license after revocation of the license within five (5) years of the effective date of revocation. Added by Laws 1994, c. 149, § 5, eff. July 1, 1995. Amended by Laws 2024, c. 159, § 10, eff. Nov. 1, 2024.
§59-858-307.4. Criminal history record - Investigation - Costs. A. Prior to the issuance of a license pursuant to this Code, each applicant shall submit to a national criminal history record check, as defined by Section 150.9 of Title 74 of the Oklahoma Statutes. B. Upon receipt by the Commission of criminal history, the Commission shall conduct an investigation in accordance with rules promulgated by the Commission. C. The costs associated with the national criminal history record check shall be paid by the applicant. Added by Laws 2007, c. 42, § 4, eff. Jan. 1, 2008.
§59-858-308. Current list of licensees. In the interest of the public, the Commission shall keep a current list of the names and addresses of all licensees, and of all persons whose licenses have been suspended or revoked, together with such other information relative to the enforcement of the provisions of this Code as it may deem advisable and desirable. Such listings and information shall be a matter of public record. Laws 1974, c. 121, § 308, operative July 1, 1974.
§59-858-309. Inactive status for licensees. A. The Commission may place a license on inactive status when the request therefor is accompanied by sufficient reason; however, said status shall not relieve the licensee from paying the required fees. The request for inactive status shall be in writing on forms furnished by the Commission. B. During active military service, any licensee shall not be required to pay the fees but shall request the inactive status prior to each term for which the license is to be issued. Added by Laws 1974, c. 121, § 309, operative July 1, 1974. Amended by Laws 1980, c. 165, § 7, eff. July 1, 1981; Laws 1984, c. 16, § 2, emerg. eff. March 20, 1984; Laws 1998, c. 60, § 15, eff. Jan. 1, 1999.
§59-858-310. Location of office - Licenses for branch offices. A. A real estate broker shall maintain a specific place of business. Such place of business shall comply with all local laws and shall be available to the public during reasonable business hours. B. If a real estate broker maintains more than one place of business and the additional location is an extension of the main office, a branch office license must be obtained for each additional location. Each branch office shall be under the direction and supervision of a separate broker and shall be considered a managing
broker of the branch office. Application shall be made upon forms as prescribed by the Commission. Added by Laws 1974, c. 121, § 310, operative July 1, 1974. Amended by Laws 1998, c. 60, § 16, eff. Jan. 1, 1999.
§59-858-311. Action not maintainable without allegation and proof of license. No person, partnership, association or corporation acting as a real estate licensee shall bring or maintain an action in any court in this state for the recovery of a money judgment as compensation for services rendered in listing, buying, selling, renting, leasing or exchanging of any real estate without alleging and proving that such person, partnership, association or corporation was licensed when the alleged cause of action arose. Added by Laws 1974, c. 121, § 311, operative July 1, 1974. Amended by Laws 1998, c. 60, § 17, eff. Jan. 1, 1999.
§59-858-312. Investigations - Cause for suspension or revocation of license. The Oklahoma Real Estate Commission may, upon its own motion, and shall, upon written complaint filed by any person, investigate the business transactions of any real estate licensee, and may, upon showing good cause, impose sanctions as provided for in Section 858- 208 of this title. Cause shall be established upon the showing that any licensee has performed, is performing, has attempted to perform, or is attempting to perform any of the following acts: 1. Making a materially false or fraudulent statement in an application for a license; 2. Making substantial misrepresentations or false promises in the conduct of business, or through real estate licensees, or advertising, which are intended to influence, persuade, or induce others; 3. Failing to comply with the requirements of Sections 858-351 through 858-363 of this title; 4. Accepting a commission or other valuable consideration as a real estate associate for the performance of any acts as an associate, except from the real estate broker with whom the associate is associated; 5. Representing or attempting to represent a real estate broker other than the broker with whom the associate is associated without the express knowledge and consent of the broker with whom the associate is associated; 6. Failing, within a reasonable time, to account for or to remit any monies, documents, or other property coming into possession of the licensee which belong to others;
7. Paying a commission or valuable consideration to any person for acts or services performed in violation of the Oklahoma Real Estate License Code; 8. Any other conduct which constitutes untrustworthy, improper, fraudulent, or dishonest dealings; 9. Disregarding or violating any provision of the Oklahoma Real Estate License Code or rules promulgated by the Commission; 10. Guaranteeing or having authorized or permitted any real estate licensee to guarantee future profits which may result from the resale of real estate; 11. Advertising or offering for sale, rent or lease any real estate, or placing a sign on any real estate offering it for sale, rent or lease without the consent of the owner or the owner’s authorized representative; 12. Using prizes, money, gifts or other valuable consideration as an inducement to secure customers or clients to purchase specific property; however, licensees may use prizes, money, gifts or other valuable consideration for marketing purposes provided they are not contingent or limited to individuals making an offer or purchasing a specific property; 13. Accepting employment or compensation for appraising real estate contingent upon the reporting of a predetermined value or issuing any appraisal report on real estate in which the licensee has an interest unless the licensee’s interest is disclosed in the report. All appraisals shall be in compliance with the Oklahoma real estate appraisal law, and the person performing the appraisal or report shall disclose in writing to the employer whether the person performing the appraisal or report is licensed or certified by the Oklahoma Real Estate Appraiser Board; 14. Paying a commission or any other valuable consideration to any person for performing the services of a real estate licensee as defined in the Oklahoma Real Estate License Code who has not first secured a real estate license pursuant to the Oklahoma Real Estate License Code; 15. Unworthiness to act as a real estate licensee, whether of the same or of a different character as specified in this section, or because the real estate licensee has been convicted of, or pleaded guilty or nolo contendere to, a crime involving moral turpitude; 16. Commingling with the licensee’s own money or property the money or property of others which is received and held by the licensee, unless the money or property of others is received by the licensee and held in an escrow account that contains only money or property of others; 17. Conviction in a court of competent jurisdiction of having violated any provision of the federal fair housing laws, 42 U.S.C. Section 3601 et seq.;
18. Failure by a real estate broker, after the receipt of a commission, to render an accounting to and pay to a real estate licensee the licensee’s earned share of the commission received; 19. Conviction in a court of competent jurisdiction in this or any other state of the crime of forgery, embezzlement, obtaining money under false pretenses, extortion, conspiracy to defraud, fraud, or any similar offense or offenses, or pleading guilty or nolo contendere to any such offense or offenses; 20. Advertising to buy, sell, rent, or exchange any real estate without disclosing in writing that the licensee is a real estate licensee; 21. Paying any part of a fee, commission, or other valuable consideration received by a real estate licensee to any person not licensed; 22. Offering, loaning, paying, or making to appear to have been paid, a down payment or earnest money deposit for a purchaser or seller in connection with a real estate transaction; 23. Violation of the Residential Property Condition Disclosure Act; 24. Placing or causing to be placed upon the public records of any county any contract, assignment, affidavit, or other writing, which purports to affect title of or encumber any real property for the purpose of collection of a commission, or to coerce the payment of money to the individual or entity. Nothing in this paragraph shall be construed to prohibit a licensee from recording a judgment; 25. Being unworthy or incompetent to act as a real estate broker in a manner as to endanger the interest of the public; 26. Failure to provide an adequate written response to the Commission within fifteen (15) days after receiving written notice of a complaint or investigation; 27. Failure to notify the Commission in writing of the conviction or plea of guilty or nolo contendere to any felony offense within thirty (30) days after the plea is taken and also within thirty (30) days of the entering of the judgment and sentencing as required by Section 858-301.2 of Title 59 in the Oklahoma Statutes; and 28. Soliciting, selling, or offering for sale real property by means of a deceptive practice. Added by Laws 1974, c. 121, § 312, operative July 1, 1974. Amended by Laws 1980, c. 165, § 8, eff. Oct. 1, 1980; Laws 1982, c. 194, § 6, emerg. eff. April 26, 1982; Laws 1984, c. 74, § 2, eff. Nov. 1, 1984; Laws 1991, c. 43, § 10, eff. July 1, 1993; Laws 1992, c. 94, § 6, eff. July 1, 1993; Laws 1994, c. 149, § 4, eff. July 1, 1995; Laws 1996, c. 159, § 3, eff. Nov. 1, 1996; Laws 1998, c. 60, § 18, eff. Jan. 1, 1999; Laws 1999, c. 26, § 2, eff. Nov. 1, 1999; Laws 1999, c. 194, § 14, eff. Nov. 1, 2000; Laws 2001, c. 235, § 5, eff. Aug. 1, 2001; Laws 2008, c. 274, § 5, eff. Nov. 1, 2008; Laws 2019,
c. 66, § 1, eff. Nov. 1, 2019; Laws 2024, c. 159, § 8, eff. Nov. 1, 2024.
§59-858-312.1. Certain persons prohibited from participation in real estate business. A. No person whose license is revoked or suspended shall operate directly or indirectly or have a participating interest, or act as a member, partner or officer, in any real estate business, corporation, association or partnership that is required to be licensed pursuant to this Code. B. No person whose license is cancelled, surrendered or lapsed pending investigation or disciplinary proceedings shall operate directly or indirectly or have a participating interest, or act as a member, partner or officer, in any real estate business, corporation, association or partnership that is required to be licensed pursuant to this Code until such time as the Commission makes a determination on the pending investigation or disciplinary proceedings and approves an application for license. Added by Laws 1994, c. 149, § 6, eff. July 1, 1995.
§59-858-313. Confidential materials of the Commission. The following materials of the Commission are confidential and not public records: 1. Examinations conducted by the Commission and materials related to the examinations; 2. Educational materials submitted to the Commission by a person or entity seeking approval and/or acceptance of a course of study; and 3. Brokerage and school records resulting from an audit performed by the Commission. Added by Laws 2007, c. 42, § 3, eff. Jan. 1, 2008. Amended by Laws 2024, c. 159, § 11, eff. Nov. 1, 2024.
§59-858-314. Wholesalers — Required disclosures — Right to cancellation. A. A wholesaler shall: 1. Disclose in writing to the homeowner, before the execution of any contract or written agreement, his or her intent to assign or sell his or her equitable interest in the residential real estate for a higher price than what is offered to the homeowner; 2. Provide a prominent written disclosure to the homeowner in all written contracts between the parties stating that the homeowner should seek legal advice before signing any contract concerning his or her home; and 3. Disclose in writing to the homeowner that the homeowner has the right to cancel the contract without penalty within two (2) business days after the execution of the contract.
B. A wholesaler shall not, directly or indirectly: 1. Act as an advisor or consultant, or in any other manner representing that the wholesaler is acting on behalf of the homeowner; or 2. Represent himself or herself as holding a certification or license, or being a member of a licensed profession, without possession of the certification or license. C. The homeowner shall have the right to cancel the contract without penalty within two (2) business days from the date of execution of the contract. D. The wholesaler shall be prohibited from placing any lien or encumbrance on or otherwise clouding title of the property. E. Any contract or agreement used by a wholesaler shall contain the following: 1. The name, address, and telephone number of the wholesaler; 2. The address of the residence involved in the transaction; 3. The total consideration to be given by the wholesaler to the homeowner; 4. A complete description of the terms of payment or other consideration including, but not limited to, any services of any nature which the wholesaler represents he or she will perform for the seller before or after the sale; and 5. The following notice shall appear on the contract in immediate proximity to the space reserved for the seller’s signature and shall be in at least twelve-point bold type if the contract is typed or in capital letters if the contract is printed. The notice shall contain the name of the wholesaler, the date and time by which the contract shall be canceled, and the following language: “NOTICE REQUIRED BY OKLAHOMA LAW: You may cancel this contract at any time before midnight of ____________________ (Date). __________________________ (Name of Wholesaler) or anyone working for ______________________ (Name of Wholesaler) CANNOT ask you to sign or have you sign any deed or any other document until your right to cancel this contract has ended. See the attached notice of cancellation form for an explanation of this right. You should always consult an attorney or community organization before signing any legal documents concerning your home. It is advisable that you find your own attorney. The law requires this contract to contain the entire agreement. You should not rely upon any other written or oral agreement or promise.” F. Failure to include any of the required disclosures under this section shall render the contract invalid and unenforceable by the wholesaler and shall entitle the homeowner to any earnest money deposit involved in the transaction. Any earnest money deposit or security deposit by a wholesaler shall be kept in an escrow account maintained in this state with a federally insured financial institution. The homeowner may terminate the contract at any time
if the wholesaler fails to comply with the provisions of this section. G. The Oklahoma Real Estate Commission shall create, publish, and provide on its website a notice of cancellation form, which shall be included by the wholesaler with any contract. This form shall be provided to the homeowner at no cost. H. The Commission shall promulgate any rules necessary to implement the provisions of this section. Added by Laws 2025, c. 301, § 2, eff. Nov. 1, 2025. NOTE: Editorially renumbered from § 858.314 of this title to avoid duplication in numbering.
§59-858-351. Definitions. Unless the context clearly indicates otherwise, as used in Sections 858-351 through 858-363 of The Oklahoma Real Estate License Code and Section 3 of this act: 1. “Broker” means a real estate broker, an associated broker associate, sales associate, or provisional sales associate authorized by a real estate broker to provide brokerage services; 2. “Brokerage services” means those services provided by a broker to a party in a transaction; 3. “Deed theft” means to: a. intentionally alter, falsify, forge, or misrepresent a document relating to real property with the intent to deceive, defraud, or unlawfully transfer or encumber the ownership rights of the owner of the real property, b. misrepresent oneself as the owner or authorized representative of the owner of real property in order to obtain ownership or possession of such real property, or c. with intent to defraud, take, obtain, steal, or transfer title or ownership of real property by fraud, forgery, larceny, or any other fraudulent or deceptive practice; 4. “Firm” means a sole proprietor, corporation, association, or partnership; 5. “Party” means a person who is a seller, buyer, landlord, or tenant or a person who is involved in an option or exchange; and 6. “Transaction” means an activity or process to buy, sell, lease, rent, option, or exchange real estate. Such activities or processes may include, without limitation, soliciting, advertising, showing, or viewing real property, presenting offers or counteroffers, entering into agreements, and closing such agreements. Added by Laws 1999, c. 194, § 1, eff. Nov. 1, 2000. Amended by Laws 2005, c. 423, § 1, emerg. eff. June 6, 2005; Laws 2012, c. 251, § 1,
eff. Nov. 1, 2013; Laws 2013, c. 240, § 2, eff. Nov. 1, 2013; Laws 2025, c. 417, § 2, eff. Nov. 1, 2025.
§59-858-352. Repealed by Laws 2012, c. 251, § 9, eff. Nov. 1, 2013.
§59-858-353. Broker duties and responsibilities. A. A broker shall have the following duties and responsibilities to all parties in a transaction, which are mandatory and may not be abrogated or waived by a broker: 1. Treat all parties with honesty and exercise reasonable skill and care; 2. Unless specifically waived in writing by a party to the transaction: a. receive all written offers and counteroffers, b. reduce offers or counteroffers to a written form upon request of any party to a transaction, and c. present timely all written offers and counteroffers; 3. Timely account for all money and property received by the broker; 4. Keep confidential information received from a party or prospective party confidential. The confidential information shall not be disclosed by a firm without the consent of the party disclosing the information unless consent to the disclosure is granted in writing by the party or prospective party disclosing the information, the disclosure is required by law, or the information is made public or becomes public as the result of actions from a source other than the firm. The following information shall be considered confidential and shall be the only information considered confidential in a transaction: a. that a party or prospective party is willing to pay more or accept less than what is being offered, b. that a party or prospective party is willing to agree to financing terms that are different from those offered, c. the motivating factors of the party or prospective party purchasing, selling, leasing, optioning or exchanging the property, and d. information specifically designated as confidential by a party unless such information is public; 5. Disclose information pertaining to the property as required by the Residential Property Condition Disclosure Act; 6. Comply with all requirements of The Oklahoma Real Estate License Code and all applicable statutes and rules; and 7. Disclose: a. information pertaining to compensation and fees assessed on each transaction to the represented party,
which shall be communicated in writing before the effective date of the contract for sale or lease, and b. the time frame for which the compensation agreement is valid, not to exceed one (1) year. If no time frame is specified, the compensation agreement shall default to sixty (60) days. B. A broker shall have the following duties and responsibilities only to a party for whom the broker is providing brokerage services in a transaction which are mandatory and may not be abrogated or waived by a broker: 1. Inform the party in writing when an offer is made that the party will be expected to pay certain costs, brokerage service costs and the approximate amount of the costs; and 2. Keep the party informed regarding the transaction. C. When working with both parties to a transaction, the duties and responsibilities set forth in this section shall remain in place for both parties. Added by Laws 1999, c. 194, § 3, eff. Nov. 1, 2000. Amended by Laws 2005, c. 423, § 3, emerg. eff. June 6, 2005; Laws 2012, c. 251, § 2, eff. Nov. 1, 2013; Laws 2013, c. 240, § 3, eff. Nov. 1, 2013; Laws 2024, c. 326, § 1, eff. Nov. 1, 2024.
§59-858-354. Repealed by Laws 2012, c. 251, § 9, eff. Nov. 1, 2013.
§59-858-355. Repealed by Laws 2012, c. 251, § 9, eff. Nov. 1, 2013.
§59-858-355.1. Brokerage services to both parties in transaction - Disclosure. A. All brokerage agreements shall incorporate as material terms the duties and responsibilities set forth in Section 858-353 of The Oklahoma Real Estate License Code. B. A broker may provide brokerage services to one or both parties in a transaction. C. A broker who is providing brokerage services to one or both parties shall describe and disclose in writing the broker's duties and responsibilities set forth in Section 858-353 of The Oklahoma Real Estate License Code prior to the party or parties signing a contract to sell, purchase, lease, option, or exchange real estate. D. A firm that provides brokerage services to both parties in a transaction shall provide written notice to both parties that the firm is providing brokerage services to both parties to a transaction prior to the parties signing a contract to purchase, lease, option or exchange real estate. E. If a broker intends to provide fewer brokerage services than those required to complete a transaction, the broker shall provide written disclosure to the party for whom the broker is providing brokerage services. Such disclosure shall include a description of
those steps in the transaction for which the broker will not provide brokerage services, and also state that the broker assisting the other party in the transaction is not required to provide assistance with these steps in any manner. Added by Laws 2012, c. 251, § 3, eff. Nov. 1, 2013. Amended by Laws 2013, c. 240, § 4, eff. Nov. 1, 2013.
§59-858-356. Disclosures – Confirmation in writing. The written disclosures as required by subsection C of Section 858-355.1 of this title shall be confirmed by each party in writing in a separate provision, incorporated in or attached to the contract to purchase, lease, option, or exchange real estate. In those cases where a broker is involved in a transaction but does not prepare the contract to purchase, lease, option, or exchange real estate, compliance with the disclosure requirements shall be documented by the broker. Added by Laws 1999, c. 194, § 6, eff. Nov. 1, 2000. Amended by Laws 2012, c. 251, § 4, eff. Nov. 1, 2013; Laws 2013, c. 240, § 5, eff. Nov. 1, 2013.
§59-858-357. Repealed by Laws 2012, c. 251, § 9, eff. Nov. 1, 2013.
§59-858-358. Duties of broker following termination, expiration or completion of performance. Except as may be provided in a written brokerage agreement between the broker and a party to a transaction, the broker owes no further duties or responsibilities to the party after termination, expiration, or completion of performance of the transaction, except: 1. To account for all monies and property relating to the transaction; and 2. To keep confidential all confidential information received by the broker during the broker's relationship with a party. Added by Laws 1999, c. 194, § 8, eff. Nov. 1, 2000.
§59-858-359. Payment to broker not determinative of relationship. A. The payment or promise of payment or compensation by a party to a broker does not determine what relationship, if any, has been established between the broker and a party to a transaction. B. In the event a broker receives a fee or compensation from any party to the transaction based on a selling price or lease cost of a transaction, such receipt does not constitute a breach of duty or obligation to any party to the transaction. C. A broker or real estate owner of record may compensate or offer compensation to any real estate professional licensed by the Oklahoma Real Estate Commission for providing brokerage services in connection with the purchase, lease, sale, transfer, or exchange of real estate located in this state.
D. 1. Nothing in this section requires a broker to charge, or prohibits a broker from charging, a separate fee or other compensation for each duty or other brokerage services provided during a transaction. 2. Nothing in this section requires a broker or real estate owner of record to offer compensation to any real estate professional in this state. Added by Laws 1999, c. 194, § 9, eff. Nov. 1, 2000. Amended by Laws 2012, c. 251, § 5, eff. Nov. 1, 2013; Laws 2025, c. 1, § 1, eff. Nov. 1, 2025.
§59-858-360. Abrogation of common law principles of agency – Remedies cumulative. A. The duties and responsibilities of a broker specified in Sections 858-351 through 858-363 of The Oklahoma Real Estate License Code shall replace and abrogate the fiduciary or other duties of a broker to a party based on common law principles of agency. The remedies at law and equity supplement the provisions of Sections 858-351 through 858-363 of The Oklahoma Real Estate License Code. B. A broker may cooperate with other brokers in a transaction. Pursuant to Sections 858-351 through 858-363 of The Oklahoma Real Estate License Code, a broker shall not be an agent, subagent, or dual agent and an offer of subagency shall not be made to other brokers. C. Nothing in this act shall prohibit a broker from entering into an agreement for brokerage services not enumerated herein so long as the agreement is in compliance with this act, the Oklahoma Real Estate Code and the Oklahoma Real Estate Commission Administration Rules. Added by Laws 1999, c. 194, § 10, eff. Nov. 1, 2000. Amended by Laws 2012, c. 251, § 6, eff. Nov. 1, 2013.
§59-858-361. Use of word “agent” in trade name and as general reference. A real estate broker and the associates of a real estate broker are permitted under the provisions of Sections 858-351 through 858- 363 of this title to use the word “agent” in a trade name and as a general reference for designating themselves as real estate licensees. Added by Laws 1999, c. 194, § 11, eff. Nov. 1, 2000. Amended by Laws 2006, c. 313, § 2, eff. Nov. 1, 2006.
§59-858-362. Vicarious liability for acts or omissions of real estate licensee. A party to a real estate transaction shall not be vicariously liable for the acts or omissions of a real estate licensee who is
providing brokerage services under Sections 858-351 through 858-363 of The Oklahoma Real Estate License Code. Added by Laws 1999, c. 194, § 12, eff. Nov. 1, 2000. Amended by Laws 2012, c. 251, § 7, eff. Nov. 1, 2013.
§59-858-363. Associates of real estate broker - Authority. Each broker associate, sales associate, and provisional sales associate shall be associated with a real estate broker. Associates shall not enter into a brokerage agreement with a party in the associate’s name and shall only be allowed to enter into the agreement in the name of the broker. A real estate broker may authorize associates to provide brokerage services in the name of the real estate broker as permitted under The Oklahoma Real Estate License Code, which may include the execution of written agreements. Added by Laws 1999, c. 194, § 13, eff. Nov. 1, 2000. Amended by Laws 2003, c. 31, § 2, eff. Nov. 1, 2003; Laws 2012, c. 251, § 8, eff. Nov. 1, 2013.
§59-858-364. Notification of the signs and risks of deed theft. As part of each closing of a transaction, notification of the signs and risks of deed theft, as defined in Section 858-351 of Title 59 of the Oklahoma Statutes, shall be required to be given to the buyer by a licensed real estate broker. The buyer shall confirm receipt of such notification by affixing his or her signature to such notification. The Oklahoma Real Estate Commission shall promulgate rules to enact the provisions of this section. Added by Laws 2025, c. 417, § 3, eff. Nov. 1, 2025.
§59-858-401. Penalties - Fines - Injunctions and restraining orders - Appeals. A. In addition to any other penalties provided by law, any person unlicensed pursuant to The Oklahoma Real Estate License Code who shall willingly, knowingly, or negligently violate any provision of this Code, upon conviction, shall be guilty of a misdemeanor punishable by a fine of not more than Five Thousand Dollars ($5,000.00), or by imprisonment in the county jail for not more than six (6) months, or by both such fine and imprisonment. B. In addition to any civil or criminal actions authorized by law, whenever, in the judgment of the Oklahoma Real Estate Commission, any unlicensed person has engaged in any acts or practices which constitute a violation of the Oklahoma Real Estate License Code, the Commission may: 1. After notice and hearing, and upon finding a violation of the Code, impose a fine of not more than Five Thousand Dollars ($5,000.00) or the amount of the commission or commissions earned, whichever is greater for each violation of the Code for unlicensed activity;
2. Make application to the appropriate court for an order enjoining such acts or practices, and upon a showing by the Commission that such person has engaged in any such acts or practices, an injunction, restraining order, or such other order as may be appropriate shall be granted by such court, without bond; or 3. Impose administrative fines pursuant to this subsection which shall be enforceable in the district courts of this state. The order of the Commission shall become final and binding on all parties unless appealed to the district court as provided in the Administrative Procedures Act. If an appeal is not made, such order may be entered on the judgment docket of the district court in a county in which the debtor has property and thereafter enforced in the same manner as an order of the district court for collection actions. C. Notices and hearings required by this section and any appeals from orders entered pursuant to this section shall be in accordance with the Administrative Procedures Act. D. Such funds as collected pursuant to this section shall be deposited in the Oklahoma Real Estate Education and Recovery Fund. Added by Laws 1974, c. 121, § 401, operative July 1, 1974. Amended by Laws 1993, c. 54, § 2, eff. Sept. 1, 1993; Laws 2004, c. 142, § 3, eff. Nov. 1, 2004; Laws 2011, c. 29, § 2, eff. Nov. 1, 2011; Laws 2024, c. 159, § 12, eff. Nov. 1, 2024.
§59-858-402. Administrative fines. A. The Oklahoma Real Estate Commission may impose administrative fines on any licensee licensed pursuant to The Oklahoma Real Estate License Code as follows: 1. Any administrative fine imposed as a result of a violation of this Code or the rules of the Commission shall not: a. be less than One Hundred Dollars ($100.00) and shall not exceed Two Thousand Dollars ($2,000.00) for each violation of this Code or the rules of the Commission, or b. exceed Five Thousand Dollars ($5,000.00) for all violations resulting from a single incident or transaction; 2. All administrative fines shall be paid within thirty (30) days of notification of the licensee by the Commission of the order of the Commission imposing the administrative fine; 3. The license may be suspended until any fine imposed upon the licensee by the Commission is paid; 4. If fines are not paid in full by the licensee within thirty (30) days of the notification by the Commission of the order, the fines shall double and the licensee shall have an additional thirty- day period. If the doubled fine is not paid within the additional thirty-day period, the license shall automatically be revoked; and
5. All monies received by the Commission as a result of the imposition of the administrative fine provided for in this section shall be deposited in the Oklahoma Real Estate Education and Recovery Fund, created pursuant to Section 858-601 of this title. B. The administrative fines authorized by this section may be in addition to any other criminal penalties or civil actions provided for by law. Added by Laws 1993, c. 54, § 3, eff. Sept. 1, 1993. Amended by Laws 1999, c. 26, § 3, eff. Nov. 1, 1999.
§59-858-503. Headings. Article and section headings contained in this Code shall not affect the interpretation of the meaning or intent of any provision of this Code. Laws 1974, c. 121, § 503, operative July 1, 1974.
§59-858-513. Psychologically impacted real estate - Factors included - Nondisclosure of facts - Certain actions prohibited - Disclosure in certain circumstances. A. The fact or suspicion that real estate might be or is psychologically impacted, such impact being the result of facts or suspicions, including but not limited to: 1. That an occupant of the real estate is, or was at any time suspected to be infected, or has been infected, with Human Immunodeficiency Virus or diagnosed with Acquired Immune Deficiency Syndrome, or other disease which has been determined by medical evidence to be highly unlikely to be transmitted through the occupancy of a dwelling place; or 2. That the real estate was, or was at any time suspected to have been the site of a suicide, homicide or other felony, is not a material fact that must be disclosed in a real estate transaction. B. No cause of action shall arise against an owner of real estate or any licensee assisting the owner for the failure to disclose to the purchaser or lessee of such real estate or any licensee assisting the purchaser or lessee that such real estate was psychologically impacted as provided for in subsection A of this section. C. Notwithstanding the fact that this information is not a material defect or fact, in the event that a purchaser or lessee, who is in the process of making a bona fide offer, advises the licensee assisting the owner, in writing, that knowledge of such factor is important to the person's decision to purchase or lease the property, the licensee shall make inquiry of the owner and report any findings to the purchaser or lessee with the consent of the owner and subject to and consistent with applicable laws of privacy; provided further, if the owner refuses to disclose, the
licensee assisting the owner shall so advise the purchaser or lessee. Added by Laws 1989, c. 235, § 1, emerg. eff. May 12, 1989. Amended by Laws 1998, c. 60, § 19, eff. Jan. 1, 1999.
§59-858-514. Registered sex offenders or violent crime offenders - No duty to provide notice regarding. The provisions of the Sex Offenders Registration Act and the Mary Rippy Violent Crime Offenders Registration Act shall not be construed as imposing a duty upon a person licensed under the Oklahoma Real Estate License Code to disclose any information regarding an offender required to register under such provision. Added by Laws 1997, c. 260, § 11, eff. Nov. 1, 1997. Amended by Laws 2004, c. 358, § 11, eff. Nov. 1, 2004.
§59-858-515.1. Size of property for sale. A. In connection with any real estate transaction, the size or area, in square footage or otherwise, of the subject property shall not be required to be provided by any real estate licensee, and if provided, shall not be considered any warranty or guarantee of the size or area information, in square footage or otherwise, of the subject property. B. 1. If a real estate licensee provides any party to a real estate transaction with third-party information concerning the size or area, in square footage or otherwise, of the subject property involved in the transaction, the licensee shall identify the source of the information. 2. For the purposes of this subsection, “third-party information” means: a. an appraisal or any measurement information prepared by a licensed appraiser, b. a survey or developer’s plan prepared by a licensed surveyor, c. a tax assessor's public record, d. a builder’s plan used to construct or market the property, or e. a plan, drawing or stated square footage provided by the owner or agent of the owner, as it relates to commercial buildings or structures for sale or for lease only. Commercial land shall be verified by one of the methods provided for in subparagraphs a through d of this paragraph. C. A real estate licensee has no duty to the seller or purchaser of real property to conduct an independent investigation of the size or area, in square footage or otherwise, of a subject property, or to independently verify the accuracy of any third-party
information as such term is defined in paragraph 2 of subsection B of this section. D. A real estate licensee who has complied with the requirements of this section, as applicable, shall have no further duties to the seller or purchaser of real property regarding disclosed or undisclosed property size or area information, and shall not be subject to liability to any party for any damages sustained with regard to any conflicting measurements or opinions of size or area, including exemplary or punitive damages. Added by Laws 2011, c. 212, § 1. Amended by Laws 2012, c. 107, § 1, eff. Nov. 1, 2012.
§59-858-515.2. Violation of duty to disclose source of information - Damages. A. If a real estate licensee has provided any third-party information, as defined in paragraph 2 of subsection B of Section 1 of this act, to any party to a real estate transaction concerning size or area of the subject real property, a party to the real estate transaction may recover damages from the licensee in a civil action only when a licensee knowingly violates the duty to disclose the source of the information, as required in paragraph 1 of subsection B of Section 1 of this act. B. The sole and exclusive civil remedy at common law or otherwise for a violation of paragraph 1 of subsection B of Section 1 of this act by a real estate licensee shall be an action for actual damages suffered by the party as a result of such violation and shall not include exemplary or punitive damages. C. For any real estate transaction commenced after the effective date of this act, any civil action brought pursuant to this section shall be commenced within two (2) years after the date of transfer of the subject real property. D. In any civil action brought pursuant to this section, the prevailing party shall be allowed court costs and reasonable attorney fees to be set by the court and collected as costs of the action. E. A transfer of a possessory interest in real property subject to the provisions of this act may not be invalidated solely because of the failure of any person to comply with the provisions of this act. F. The provisions of this act shall apply to, regulate and determine the rights, duties, obligations and remedies, at common law or otherwise, of the seller marketing his or her real property for sale through a real estate licensee, and of the purchaser of real property offered for sale through a real estate licensee, with respect to disclosure of third-party information concerning the subject real property’s size or area, in square footage or otherwise, and this act hereby supplants and abrogates all common
law liability, rights, duties, obligations and remedies of all parties therefor. Added by Laws 2011, c. 212, § 2.
§59-858-601. Creation - Status - Appropriation - Expenditures - Use 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. Added by Laws 1977, c. 182, § 6, eff. July 1, 1977. Amended by Laws 1992, c. 94, § 7, eff. July 1, 1992; Laws 1997, c. 105, § 1, eff.
July 1, 1997; Laws 1998, c. 60, § 20, eff. Jan. 1, 1999; Laws 2005, c. 85, § 2, eff. Nov. 1, 2005; Laws 2012, c. 304, § 269.
§59-858-602. Additional fee - Disposition. A. An additional, nonrefundable fee as promulgated by rule by the Commission shall be added to and payable with the license fee for both new licenses and renewals of licenses for each licensee as provided in Section 858-307.1 of this title. Such additional fee shall be deposited in the Oklahoma Real Estate Education and Recovery Fund. B. At the close of each fiscal year, the Commission may transfer into the Oklahoma Real Estate Commission Revolving Fund any money in excess of that amount required to be retained in the Oklahoma Real Estate Education and Recovery Fund and that amount authorized to be expended as provided within this Code that is remaining in the Oklahoma Education and Recovery Fund and unexpended. Added by Laws 1977, c. 182, § 7, eff. July 1, 1977. Amended by Laws 1980, c. 165, § 9, eff. July 1, 1981; Laws 1988, c. 324, § 2, operative July 1, 1988; Laws 1998, c. 60, § 21, eff. Jan. 1, 1999; Laws 2001, c. 235, § 6, eff. Aug. 1, 2001; Laws 2024, c. 159, § 13, eff. Nov. 1, 2024.
§59-858-603. Eligibility to recover from fund - Ineligibility. A. Any claimant shall be eligible to seek recovery from the Oklahoma Real Estate Education and Recovery Fund if the following conditions have been met: 1. An action has been filed in district court based upon a violation specified in the Oklahoma Real Estate License Code; 2. The cause of action accrued not more than two (2) years prior to the filing of the action; 3. At the commencement of an action, the party filing the action shall immediately notify the Commission to this effect in writing and provide the Commission with a file-stamped copy of the petition or affidavit. Said Commission shall have the right to enter an appearance, intervene in, defend, or take any action it may deem appropriate to protect the integrity of the Fund. The Commission may waive the notification requirement if it determines that the public interest is best served by the waiver, that is to best meet the ends of justice and that the claimant making application made a good faith effort to comply with the notification requirements; 4. Final judgment is received by the claimant upon such action; 5. The final judgment is enforced as provided by statute for enforcement of judgments in other civil actions and that the amount realized was insufficient to satisfy the judgment; and
6. Any compensation recovered by the claimant from the judgment debtor, or from any other source for any monetary loss arising out of the cause of action, has been applied to the judgment awarded by the court. B. A claimant shall not be qualified to make a claim for recovery from the Oklahoma Real Estate Education and Recovery Fund, if: 1. The claimant is the spouse of the judgment debtor or a personal representative of such spouse; 2. The claimant is a licensee who acted in their own behalf in the transaction which is the subject of the claim; or 3. The claimant’s claim is based upon a real estate transaction in which the claimant is, through their own action, jointly responsible for any resulting monetary loss with respect to the property owned or controlled by the claimant. Added by Laws 1977, c. 182, § 8, eff. July 1, 1977. Amended by Laws 1988, c. 324, § 4, operative July 1, 1988; Laws 1991, c. 43, § 11, eff. July 1, 1993; Laws 1998, c. 60, § 22, eff. Jan. 1, 1999; Laws 2005, c. 85, § 3, eff. Nov. 1, 2005.
§59-858-604. Application for payment - Amount - Assignment of rights, etc. - Insufficient funds - Revocation of licenses. A. Any claimant who meets all of the conditions prescribed by this act may apply to the Commission for payment from the Oklahoma Real Estate Education and Recovery Fund, in an amount equal to the unsatisfied portion of the claimant’s judgment, which is actual or compensatory damages, or Twenty-five Thousand Dollars ($25,000.00), whichever is less. The claimant is entitled to reimbursement for attorney fees reasonably incurred in the litigation not to exceed twenty-five percent (25%) of the claimant’s amount approved by the Commission. Attorney fees charged and received shall be documented, verified, and submitted with the claim. Court costs and other expenses shall not be recoverable from the fund. B. Upon receipt by the claimant of the payment from the Oklahoma Real Estate Education and Recovery Fund, the claimant assigns the claimant's right, title and interest in that portion of the judgment to the Commission which shall be subrogated up to the amount actually paid by the fund to the claimant or to the claimant and the claimant’s attorney. Upon suit to collect upon a judgment, the claimant shall have priority over the fund. Any amount subsequently recovered on the judgment by the Commission, to the extent of the Commission's right, title and interest therein, shall be used to reimburse the Oklahoma Real Estate Education and Recovery Fund. C. Payments for claims arising out of the same transaction which constitutes a claimant’s cause of action based upon a violation of the Oklahoma Real Estate License Code shall be limited
in the aggregate of Fifty Thousand Dollars ($50,000.00) irrespective of the number of claimants or parcels of real estate involved in the transaction. D. Payments for claims based upon judgments against any one licensee shall not exceed in the aggregate Fifty Thousand Dollars ($50,000.00). E. If at any time the monies in the Oklahoma Real Estate Education and Recovery Fund are insufficient to satisfy any valid claim, or portion thereof, the Commission shall satisfy such unpaid claim or portion thereof as soon as a sufficient amount of money has been deposited in the fund by collecting a special levy from members of the fund of an amount not to exceed Five Dollars ($5.00) each fiscal year. If the additional levy is not sufficient to pay all outstanding claims against the fund, the claims shall be paid as the money becomes available. Where there is more than one claim outstanding, the claims shall be paid in the order that they were approved. F. Any claim against a corporation, association or partnership would be imputed to the managing broker(s) at the time the cause of action arose. G. The license of said licensee shall be automatically revoked upon the payment of any amount from the Oklahoma Real Estate Education and Recovery Fund on a judgment against a licensee. The license shall not be considered for reinstatement until the licensee has repaid in full, plus interest at the rate of seven percent (7%) a year, the amount paid from the Oklahoma Real Estate Education and Recovery Fund on the judgment against the licensee. Added by Laws 1977, c. 182, § 9, eff. July 1, 1977. Amended by Laws 1988, c. 324, § 5, operative July 1, 1988; Laws 1991, c. 43, § 12, eff. July 1, 1993; Laws 1997, c. 105, § 2, eff. July 1, 1997; Laws 1998, c. 60, § 23, eff. Jan. 1, 1999; Laws 2005, c. 85, § 4, eff. Nov. 1, 2005.
§59-858-605. Expenditure of funds. At any time when the total amount of monies deposited in the Oklahoma Real Estate Education and Recovery Fund exceeds Two Hundred Fifty Thousand Dollars ($250,000.00), the Commission in its discretion may expend such excess funds each fiscal year for the following purposes: 1. To promote the advancement of education in the field of real estate for the benefit of the general public; 2. To promote the advancement of education in the field of real estate for the benefit of those licensed under the Oklahoma Real Estate License Code; provided, such promotion shall not be construed to allow advertising of this profession; 3. To underwrite educational seminars and other forms of educational projects for the benefit of real estate licensees;
4. To establish real estate courses at institutions of higher learning located in the state and accredited by the State Regents for Higher Education for the purpose of making such courses available to licensees and the general public; 5. To contract for a particular educational project in the field of real estate to further the purposes of the Oklahoma Real Estate License Code; 6. To implement and maintain a public registry for the benefit of real estate licensees and the general public; 7. To produce and distribute an agency newsletter available to the general public and real estate licensees; and 8. To provide education grants to institutions of higher learning located in this state and accredited by the Oklahoma State Regents for Higher Education for courses on financial management and homeownership. Added by Laws 1977, c. 182, § 10, eff. July 1, 1977. Amended by Laws 1983, c. 289, § 3, emerg. eff. June 24, 1983; Laws 1988, c. 324, § 6, operative July 1, 1988; Laws 2024, c. 159, § 14, eff. Nov. 1, 2024.
§59-858-621. Short title. This act shall be known and may be cited as the "Home Inspection Licensing Act". Added by Laws 2001, c. 423, § 1, eff. Nov. 1, 2001.
§59-858-622. Definitions. As used in the Home Inspection Licensing Act: 1. "Board" means the Construction Industries Board; 2. "Committee" means the Committee of Home Inspector Examiners; 3. "Home inspection" means a visual examination of any or all of the readily accessible physical real property and improvements to real property consisting of four or fewer dwelling units, including structural, lot drainage, roof, electrical, plumbing, heating and air conditioning and such other areas of concern as are specified in writing to determine if performance is as intended; 4. "Home inspection report" means a written opinion of the functional and physical condition of property written by the licensed home inspector pursuant to home inspection; and 5. "Home inspector" means an individual licensed pursuant to the Home Inspection Licensing Act who, for compensation, conducts home inspections. Added by Laws 2001, c. 423, § 2, eff. Nov. 1, 2001. Amended by Laws 2008, c. 405, § 1, emerg. eff. June 3, 2008.
§59-858-623. Exemptions. A. On and after July 1, 2003, it shall be unlawful for an individual to conduct, for compensation, a home inspection or to
advertise or otherwise hold themselves out to be in the business of home inspection in this state unless licensed pursuant to the Home Inspection Licensing Act. B. The Home Inspection Licensing Act shall not apply to: 1. Individuals inspecting new residential construction; 2. Licensed architects engaged in the practice of architecture as defined and regulated by Section 46.1 et seq. of this title; 3. Individuals holding other occupational licenses who only do home inspections within the occupational confines of that license; 4. Government employees who perform inspections when acting within the scope of their employment; or 5. Persons regulated by the State Board of Agriculture who issue wood infestation reports as defined in Section 3-81 of Title 2 of the Oklahoma Statutes. C. Any single-item inspection requested by a client, whether or not the item to be inspected is specifically included or excluded in the definition of home inspection pursuant to Section 858-622 of this title, may be performed by a professional craftsman whose expertise is in the specific area or by persons qualified by education or training to conduct that specific inspection. If a single-item that has been requested for inspection is an area of expertise that is licensed by the state, then that person conducting the inspection shall be licensed in respect to that particular area. Added by Laws 2001, c. 423, § 3, eff. Nov. 1, 2001. Amended by Laws 2002, c. 449, § 1, emerg. eff. June 5, 2002; Laws 2004, c. 241, § 1, eff. Nov. 1, 2004; Laws 2009, c. 140, § 1, eff. Nov. 1, 2009.
§59-858-624. Committee of Home Inspector Examiners. A. There is hereby created the Committee of Home Inspector Examiners under the authority of the Construction Industries Board, which shall consist of seven (7) members who have been residents of this state for at least three (3) years prior to their appointment. Each member shall be appointed by the Governor with the advice and consent of the Senate. Appointments shall be made so that not more than two members shall, at the time an appointment is made, be residents of the same congressional district; provided, no member shall be removed from office due solely to a reduction in the number of congressional districts. B. Of the seven members: 1. Four of the initial appointees shall hold memberships in a state or national housing inspection association or foundation. After expiration of the terms of the initial appointees, four members shall be licensed home inspectors who are active full time in the practice of making home inspections, two or more of whom shall hold membership in an association that certifies home inspectors in this state;
2. One shall be a licensed real estate broker who is active full time in the real estate brokerage business; 3. One shall be a licensed real estate appraiser who is active full time in the real estate appraisal business; and 4. One shall be a lay person who is not involved in the property business, including, but not limited to, the leasing of commercial or residential property, and is not in the real estate business or home inspection business. C. Initially, three members shall be appointed for a term to expire June 30, 2003; two members shall be appointed for a term to expire June 30, 2004; and two members shall be appointed for a term to expire June 30, 2005. Thereafter, all terms shall be three-year terms ending June 30. D. Members shall serve until their successors are appointed and qualified. Vacancies shall be filled for the balance of an unexpired term by appointment of the Governor. Members may be removed by the Governor for good cause. E. Members shall elect officers annually. The chair, or in the absence of the chair, the vice-chair, shall preside at all meetings of the Committee and shall perform such duties as the Committee shall prescribe. The Committee shall meet at least semiannually, and special meetings may be called by the chair or the designee of the chair. Four members shall constitute a quorum. F. Members shall serve without compensation but shall be reimbursed in accordance with the State Travel Reimbursement Act. G. Personnel and administrative support necessary for the Committee to exercise its powers and accomplish its duties shall be provided by the Construction Industries Board. Added by Laws 2001, c. 423, § 4, eff. Nov. 1, 2001. Amended by Laws 2007, c. 188, § 21, eff. Nov. 1, 2007; Laws 2008, c. 405, § 2, emerg. eff. June 3, 2008; Laws 2013, c. 43, § 1, eff. Nov. 1, 2013.
§59-858-625. Fees. Fees for the Home Inspection Licensing Act shall not exceed the following: Approval fees for schools, instructors and home inspection organizations $100.00 Approval fees for educational course content $50.00 Application for license $30.00 Licensure for reciprocity $50.00 Examination fee $200.00 License fee $250.00 License renewal $150.00 License reactivation $50.00 Added by Laws 2001, c. 423, § 5, eff. Nov. 1, 2001. Amended by Laws 2002, c. 449, § 2, emerg. eff. June 5, 2002.
§59-858-626. Home Inspection Licensing Act Revolving Fund. There is hereby created in the State Treasury a revolving fund for the Construction Industries Board, to be designated the "Home Inspection Licensing Act Revolving Fund". The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of all monies received by the Board pursuant to the Home Inspection Licensing Act. All monies accruing to the credit of the fund are hereby appropriated and may be budgeted and expended by the Board for the purpose of implementing and enforcing the Home Inspection Licensing Act. Expenditures from the 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. Added by Laws 2001, c. 423, § 6, eff. Nov. 1, 2001. Amended by Laws 2008, c. 405, § 3, emerg. eff. June 3, 2008; Laws 2012, c. 304, § 270.
§59-858-627. Rule promulgation - Disciplinary measures - Injunctive relief and restraining orders. A. The Committee of Home Inspector Examiners shall advise the Construction Industries Board in promulgating rules consistent with the purposes of the Home Inspection Licensing Act. B. The Construction Industries Board shall promulgate rules including, but not limited to: 1. Qualifications and examinations for licensure of home inspectors; 2. License renewal requirements; 3. Reinstatement of license after suspension or revocation of license or failure to meet license renewal requirements; 4. Continuing education; 5. Standards of practice and prohibited acts; 6. Approval of schools, educational course content, instructors, and organizations offering courses of study for home inspection; 7. Standards required for schools, instructors, and organizations to remain approved; 8. Approval fees; 9. Reciprocity agreements whereby home inspectors licensed in other states with equal or greater licensure requirements may be licensed in this state, and fee for licensing by reciprocity; and 10. Investigative procedures. C. Upon showing of good cause as provided for in the Home Inspection Licensing Act, the Board shall discipline licensees, approved instructors, approved schools, and educational organizations by: 1. Issuing reprimands;
2. Requiring probation for a specified period of time; 3. Requiring education in addition to the educational requirements provided for licensure or continuing education; 4. Suspending licenses or approvals; 5. Rescinding or revoking licenses or approvals; 6. Imposing administrative fines as provided for by the Home Inspection Licensing Act; 7. Any combination of disciplinary measures as provided by paragraphs 1 through 6 of this subsection; and 8. Upon showing of good cause, may modify any disciplinary action imposed pursuant to the provisions of the Home Inspection Licensing Act. D. The Committee may advise the Board to seek injunctive relief and restraining orders for violations of the Home Inspection Licensing Act or the rules promulgated pursuant thereto to cause the prosecution of any person who violates any of the provisions of the Home Inspection Licensing Act or the rules promulgated pursuant thereto. E. In the exercise of all powers and the performance of all duties provided in the Home Inspection Licensing Act, the Committee and the Board shall comply with the Administrative Procedures Act, the Oklahoma Open Meeting Act, and the Oklahoma Open Records Act. Added by Laws 2001, c. 423, § 7, eff. Nov. 1, 2001. Amended by Laws 2008, c. 405, § 4, emerg. eff. June 3, 2008.
§59-858-628. Home inspection instruction. A. The Committee of Home Inspector Examiners shall not approve any school of home inspection instruction until it has received and examined the curriculum, syllabi or program of instruction of the school or organization conducting or offering the instruction. B. Nothing in the Home Inspection Licensing Act shall be construed as relieving a school of home inspection from responsibility for compliance pursuant to law with the requirements of any other agency. Added by Laws 2001, c. 423, § 8, eff. Nov. 1, 2001.
§59-858-629. Home inspector examination - Application and qualifications - Issuance of license. A. Any individual eighteen (18) years of age or older who has successfully completed ninety (90) clock hours of home inspection training or its equivalent as determined by the Committee of Home Inspector Examiners may apply to take a home inspector examination. Application shall be made on forms prescribed by the Construction Industries Board, shall contain information as required by the Construction Industries Board upon advisement of the Committee, and shall be accompanied by evidence of successful completion of the
required training. Examinations may be held in vocational and technical schools or in other locations as determined by rule. B. If, from the application filed, answers to inquiries, complaints, or information received, or investigation, it appears to the Board that the applicant is not qualified, the Committee shall deny approval of the application and shall give notice of that fact to the applicant. C. Upon approval of the application and the payment of the applicant of an examination fee, the applicant shall be scheduled to appear in person for an examination on the subjects prescribed by the Committee. D. If the Board determines that the applicant has successfully passed the examination or an equivalent examination as determined by the Committee, the Board shall, upon the payment of the license fee and submission of other documents as required by the Home Inspection Licensing Act or rules promulgated pursuant to the Home Inspection Licensing Act, issue to the applicant a license which shall authorize the applicant to perform home inspections. Added by Laws 2001, c. 423, § 9, eff. Nov. 1, 2001. Amended by Laws 2002, c. 449, § 3, emerg. eff. June 5, 2002; Laws 2008, c. 405, § 5, emerg. eff. June 3, 2008; Laws 2009, c. 140, § 2, eff. Nov. 1, 2009; Laws 2019, c. 363, § 36, eff. Nov. 1, 2019.
§59-858-630. Documentation and fees - Issuance, renewal and reactivation of license - Insurance. To be licensed as a home inspector, or to renew or reactivate a license, an applicant shall submit to the Construction Industries Board such documents and fees as are required by the Home Inspection Licensing Act or the rules promulgated pursuant thereto and shall provide evidence of having secured a certificate of general liability insurance in the amount required by rule. The amount of the certificate of general liability insurance required shall not be less than Fifty Thousand Dollars ($50,000.00). Added by Laws 2001, c. 423, § 10, eff. Nov. 1, 2001. Amended by Laws 2008, c. 405, § 6, emerg. eff. June 3, 2008.
§59-858-631. License term - Continuing education requirement - Inactive status. A. The license term for a home inspector shall be one (1) year. The license shall expire twelve (12) months from the date of issuance. The license fee and each renewal or reactivation thereafter shall be payable in advance, which shall not be refundable. B. As a condition of license renewal or reactivation, each home inspector shall submit to the Construction Industries Board evidence of having attended eight (8) clock hours of continuing education within the twelve (12) months immediately preceding the term for
which the license is to be issued. Except as otherwise provided for in this section, the Board shall not issue a renewal license or reactivate a license unless the continuing education requirement set forth in this section is satisfied within the prescribed time period. C. Any licensee who fails to renew before the license expiration date shall be required to submit to such additional requirements or penalties, or both, as the Board may require pursuant to rule. D. The Construction Industries Board may place the license of a home inspector on inactive status when the licensee gives sufficient reason; however, such status shall not relieve the licensee from paying the required fees. Continuing education shall not be required during the period a license is on inactive status. Prior to the license being placed on an active status, the licensee shall be required to complete the eight-hour continuing education requirement. If the holder of the inactive license has been in the military service during the entire time of inactive license status, only eight (8) clock hours of continuing education and the license fee shall be required for the reactivation of the license. Added by Laws 2001, c. 423, § 11, eff. Nov. 1, 2001. Amended by Laws 2008, c. 405, § 7, emerg. eff. June 3, 2008; Laws 2009, c. 140, § 3, eff. Nov. 1, 2009.
§59-858-632. Criminal actions - Injunctions or restraining orders. A. In addition to any other penalties provided by law, any individual unlicensed pursuant to the Home Inspection Licensing Act who shall willfully and knowingly violate any provision of the Home Inspection Licensing Act shall, upon conviction, be guilty of a misdemeanor punishable by a fine of not more than One Thousand Dollars ($1,000.00), or by imprisonment in the county jail for not more than six (6) months, or by both such fine and imprisonment. B. In addition to any civil or criminal actions authorized by law, the Attorney General, or a district attorney may apply to the district court in the county in which a violation of the Home Inspection Licensing Act has allegedly occurred for an order enjoining or restraining the unlicensed individual from continuing the acts specified in the complaint. The court may grant any temporary or permanent injunction or restraining order, without bond, as it deems just and proper. Added by Laws 2001, c. 423, § 12, eff. Nov. 1, 2001.
§59-858-633. Investigations and hearings - Good cause. A. The Committee of Home Inspector Examiners may, upon its own motion, and shall, upon written complaint filed by any person, direct the Construction Industries Board to investigate the business activities of any home inspector. The Committee may contract for an
administrative judge for any hearing which may, upon a showing of good cause, impose disciplinary actions as provided in the Home Inspection Licensing Act. B. Good cause shall be established upon showing that any licensee has performed, is performing, has attempted to perform, or is attempting to perform any of the following acts: 1. Making a materially false or fraudulent statement in an application for license or for approval of continuing education; 2. Having been convicted in a court of competent jurisdiction of forgery, fraud, conspiracy to defraud, or any similar offense, or pleading guilty or nolo contendere to any such offense; 3. Falsifying or failing to disclose in a home inspection report a material defect; 4. Failing to perform a home inspection report in accordance with the Home Inspection Licensing Act or the rules promulgated pursuant thereto; 5. Compensating any person for performing the services of a home inspector or lending a license to any person who has not first secured a license as a home inspector pursuant to the Home Inspection Licensing Act; 6. Accepting inspection assignments when the employment itself is contingent upon reporting a predetermined estimate, analysis or opinion; 7. Accepting inspection assignments when the fee to be paid is contingent upon the opinion, the conclusion, analysis, or report reached, or upon the consequences resulting from such assignments; 8. Performing repair or maintenance work, or receiving compensation either directly or indirectly from a company regularly engaged in home repair work, on a property having four or fewer dwelling units that the home inspector inspected within one (1) year from the date of the inspection; 9. Accepting compensation from more than one client for a single home inspection, unless the home inspector has informed all clients who are paying a fee for that home inspection that such compensation is sought or anticipated; 10. Except as provided in paragraph 14 of this subsection, disclosing the results of a home inspection to any person other than the client without the written consent of the client; 11. Failing to disclose to the client any conflict of interest of which the inspector knows or should have known that may adversely affect the client; 12. Failing to submit a written home inspection report within a reasonable time as determined by the Board to the client after compensation has been paid to the home inspector; 13. Paying any fees or other amounts due pursuant to the Home Inspection Licensing Act or the rules promulgated pursuant thereto
with a check that is dishonored upon presentation to the financial institution on which it is drawn; 14. Failing, upon demand in writing by the Construction Industries Board, a law enforcement agency, or a court of law, to disclose any information within the knowledge of the licensee or to produce any document in possession of a licensee or under control of a licensee that relates to a home inspection; or 15. Disregarding or violating any provision of the Home Inspection Licensing Act or rule promulgated pursuant to the Home Inspection Licensing Act. Added by Laws 2001, c. 423, § 13, eff. Nov. 1, 2001. Amended by Laws 2008, c. 405, § 8, emerg. eff. June 3, 2008.
§59-858-634. Administrative fines. A. The Committee may impose administrative fines on any licensee licensed pursuant to the Home Inspection Licensing Act. Fines may be imposed as follows: 1. Any administrative fine imposed as a result of a violation of the Home Inspection Licensing Act or rules promulgated pursuant thereto shall not: a. be less than Two Hundred Dollars ($200.00) and shall not exceed Two Thousand Dollars ($2,000.00) for each violation, or b. exceed Five Thousand Dollars ($5,000.00) for all violations resulting from a single inspection; 2. All administrative fines shall be paid within thirty (30) days of written notification to the licensee of the order imposing the administrative fine or, if the licensee appeals the fine, within thirty (30) days of the decision of the Construction Industries Board in favor of the action of the Board unless the district court stays the order of the Board pending an appeal pursuant to the Administrative Procedures Act; 3. The Board may suspend the license until any fine imposed upon the licensee is paid; and 4. If fines are not paid in full by the licensee as required by this subsection, the Board shall revoke the license. B. The administrative fines authorized by this section may be imposed in addition to any other criminal penalties or civil actions provided for by law. Added by Laws 2001, c. 423, § 14, eff. Nov. 1, 2001. Amended by Laws 2008, c. 405, § 9, emerg. eff. June 3, 2008.
§59-858-700. Short title. This act shall be known and may be cited as the "Oklahoma Certified Real Estate Appraisers Act". Added by Laws 1990, c. 327, § 1, emerg. eff. May 31, 1990.
§59-858-701. Legislative intent - Purpose of act. It is the intent of the Legislature to develop a real estate appraiser certification process which meets the federal guidelines set forth in the Financial Institutions Reform, Recovery, and Enforcement Act of 1989. The purpose of the Oklahoma Certified Real Estate Appraisers Act is to provide appraisers within the state a process for certification which will allow them to participate in a federally related transaction and real estate-related financial transactions of the agencies, instrumentalities and federally recognized entities as defined and recognized in Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989. It is not the intent of this legislation to prevent any person who is currently conducting business as an appraiser from continuing such action unless such action involves a federally related transaction or a real estate-related financial transaction as defined in Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989. Added by Laws 1990, c. 327, § 2, emerg. eff. May 31, 1990. Amended by Laws 1996, c. 318, § 6, eff. July 1, 1996.
§59-858-702. Application of act. A. This act shall only apply to: 1. Any appraisal or appraiser involving the following: a. a federally related transaction, b. real estate-related financial transactions of the agencies, instrumentalities, and federally recognized entities covered by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, and c. any real estate-related transactions where an appraisal report was made under a written agreement that the appraisal report would follow the Uniform Standards of Professional Appraisal Practice guidelines or where a written appraisal states that it is in compliance with the Uniform Standards of Professional Appraisal Practice; and 2. Appraisers certified or licensed pursuant to the Oklahoma Certified Real Estate Appraisers Act or representing themselves as such, whether such license or certification is active, inactive, expired, suspended, or revoked as set forth in this act and the rules and regulations promulgated pursuant thereto, to the extent that the appraisers and any real property valuation and any real property valuation activity performed by them shall conform to the code of ethics as set forth in this act. B. Certified public accountants, licensed in the states or other U.S. jurisdictions, who perform appraisals of real estate incidental to the performance of professional services they provide to clients are excluded from the licensing and certification
provisions of the Oklahoma Certified Real Estate Appraisers Act unless the appraisal is a federally related transaction or a real estate-related financial transaction of the agencies, instrumentalities and federally recognized entities covered by the Financial Institutions, Reform, Recovery and Enforcement Act of 1989. Added by Laws 1990, c. 327, § 3, emerg. eff. May 31, 1990. Amended by Laws 1996, c. 318, § 7, eff. July 1, 1996; Laws 2006, c. 165, § 1, eff. Nov. 1, 2006.
§59-858-703. Definitions. As used in the Oklahoma Certified Real Estate Appraisers Act: 1. "Appraisal" or "real estate appraisal" means an analysis, opinion or conclusion relating to the nature, quality, value or utility of specified interests in, or aspects of, identified real estate other than oil, gas, coal, water and all other energy and nonfuel mineral and elements or the value of underground space to be used for storage of commodities or for the disposal of waste unless they are appraised as part of a federally related transaction covered by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989. An appraisal may be classified by subject matter into either a valuation or an analysis. A "valuation" is an estimate of the value of real estate or real property. An "analysis" is a study of real estate or real property other than estimating value; 2. "Appraisal report" means any written or oral communication of an appraisal; 3. "Appraisal Subcommittee" means the subcommittee created by Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989; 4. "Appraiser Qualifications Board" (AQB) means the independent board appointed by the Board of Trustees of the Appraisal Foundation. The AQB establishes educational, experience, and examination criteria for appraisers. Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989 requires that state certified appraisers must meet the minimum qualifications set by the AQB; 5. "Board" means the Real Estate Appraiser Board established pursuant to the provisions of the Oklahoma Certified Real Estate Appraisers Act; 6. "Certification" shall refer to either a trainee appraiser, a state licensed appraiser, a state certified residential appraiser or a state certified general appraiser; 7. "Certified appraisal or certified appraisal report" means an appraisal or appraisal report given or signed and certified as such by a trainee appraiser, a state licensed, state certified residential or state certified general real estate appraiser. When
identifying an appraisal or appraisal report as "certified", the trainee, state licensed, state certified residential or state certified general real estate appraiser must indicate which type of certification is held. A certified appraisal or appraisal report represents to the public that it meets the appraisal standards defined in the Oklahoma Certified Real Estate Appraisers Act; 8. "Chairperson" means the chairperson of the Real Estate Appraiser Board; 9. "Department" means the Insurance Department; 10. "Director" means the individual employed by the Board who is responsible for supervising the regulation of appraiser and appraisal management companies' credentialing and enforcement programs; serves as liaison between the Board and other state and federal entities and professional organizations; directs and coordinates the day-to-day operations of the Board including training staff, budgeting and ensuring adherence to the Oklahoma Open Meeting Act and the Oklahoma Open Records Act; 11. "Real estate" means an identified parcel or tract of land including improvements, if any; 12. "Real property" means one or more defined interests, benefits, and rights inherent in the ownership of real estate; 13. "Trainee, state licensed, state certified residential or state certified general real estate appraiser" means a person who develops and communicates real estate appraisals and who holds a current, valid certificate issued to such person for either general or residential real estate pursuant to provisions of the Oklahoma Certified Real Estate Appraisers Act; 14. "Appraisal assignment" means an engagement for which an appraiser is employed or retained to act, or would be perceived by third parties or the public as acting, as a disinterested third party in rendering an unbiased analysis, opinion or conclusion relating to the nature, quality, value or utility of specified interests in, or aspects of, identified real estate; and 15. "Specialized services" means those appraisal services which do not fall within the definition of appraisal assignment. The term "specialized services" may include valuation work and analysis work. Regardless of the intention of the client or employer, if the appraiser would be perceived by third parties or the public as acting as a disinterested third party in rendering an unbiased analysis, opinion or conclusion, the work is classified as an appraisal assignment and not "specialized services". Added by Laws 1990, c. 327, § 4, emerg. eff. May 31, 1990. Amended by Laws 1991, c. 271, § 1, eff. Sept. 1, 1991; Laws 1992, c. 132, § 1, eff. Sept. 1, 1992; Laws 1994, c. 144, § 1, eff. Sept. 1, 1994; Laws 2001, c. 280, § 1, eff. July 1, 2001; Laws 2006, c. 165, § 2, eff. Nov. 1, 2006; Laws 2021, c. 298, § 1, eff. July 1, 2021.
§59-858-704. Use of term "state certified" – Injunctive proceedings. A. No person, other than a trainee, state licensed, state certified residential or state certified general real estate appraiser, shall assume or use that title or any title, designation, or abbreviation likely to create the impression of certification as a real estate appraiser by this state. A person who is not certified pursuant to the provisions of the Oklahoma Certified Real Estate Appraisers Act shall not describe or refer to any appraisal or other evaluation of real estate located in this state by using the term "state certified". B. Violation of subsection A of this section, including using or attempting to use the seal, certificate, or license of another as their own, or falsely impersonating any duly licensed appraiser, or using or attempting to use an inactive, expired, suspended, or revoked license, is declared to be adverse to the public welfare, to constitute a public nuisance, and to cause irreparable harm to the public welfare. The Real Estate Appraiser Board, through the Attorney General, or the local district attorney may maintain an action for injunctive relief in the district court in the county in which a violation of this section is alleged to have occurred to enjoin any person from engaging in such practice. C. Upon the filing of a verified petition in a district court, the court, if satisfied by affidavit or otherwise that a person has been engaged in the practice of real estate appraisal without a valid license, may enter a temporary restraining order without notice or bond enjoining the defendant from further practice. The showing of the absence of a valid, active, unexpired license, by affidavit or otherwise, is sufficient for the issuance of a temporary injunction. If it is established that the defendant has been or is engaged in violation of subsection A of this section, the court may enter an order or judgment perpetually enjoining the defendant from further unlawful acts. In all proceedings under this section, the court, in its discretion, may apportion the costs among the parties interested in the action, including the cost of filing the complaint, service of process, witness fees and expenses, court- reported charges, and reasonable attorney fees. These injunctive proceedings shall be in addition to, and not in lieu of, all penalties and other remedies provided in the Oklahoma Certified Real Estate Appraisers Act. D. This act is hereby deemed to be voluntary on the part of those who apply to become trainee, state licensed, state certified residential or state certified general real estate appraisers. Users of appraisals may determine, by their own discretion or by guidelines, whether or not to use a trainee, state licensed, state certified residential or state certified general real estate appraiser.
Added by Laws 1990, c. 327, § 5, emerg. eff. May 31, 1990. Amended by Laws 1991, c. 271, § 2, eff. Sept. 1, 1991; Laws 1992, c. 132, § 2, eff. Sept. 1, 1992; Laws 2001, c. 280, § 2, eff. July 1, 2001; Laws 2006, c. 165, § 3, eff. Nov. 1, 2006.
§59-858-705. Real Estate Appraiser Board - Members - Appointment - Qualifications - Terms - Removal - Meetings - Chairperson - Quorum. A. There is hereby established as an adjunct to the Department an independent Real Estate Appraiser Board which shall consist of seven (7) regular members and one ex officio member. The ex officio member shall be the Insurance Commissioner. The seven regular members shall be as follows: one from the commercial banking industry; one of whom shall be a layperson; one of whom shall be in the real estate sales industry; and four of whom shall be real estate appraisers with no nationally recognized real estate appraisal organization having more than two members on the Board. B. The Governor shall appoint the members of the Real Estate Appraiser Board. C. Each real estate appraiser member of the Board appointed after July 1, 1991, or within twenty-four (24) months of the effective date of this act, whichever occurs first, must be a state licensed, state certified residential or state certified general real estate appraiser. D. The term of each member shall be five (5) years; except that of the members first appointed, two shall serve for one (1) year, two shall serve for two (2) years, one shall serve for three (3) years, one shall serve for four (4) years, and one shall serve for five (5) years. E. Members of the Board shall hold office until the appointment and qualification of their successors. No person shall serve as a member of the Board for more than two consecutive terms. The Governor may remove a member for inefficiency, neglect of duty, or malfeasance in office. The member shall be given notice and an opportunity to be heard prior to removal. F. The Board shall meet at least once each calendar quarter to conduct its business. Written notice shall be given to each member of the time and place of each meeting of the Board at least ten (10) days before the scheduled date of the meetings. G. The members of the Board shall elect a vice-chairperson from among the members to preside at Board meetings when the chairperson is absent. H. A quorum of the Board shall be five members. Added by Laws 1990, c. 327, § 6, emerg. eff. May 31, 1990. Amended by Laws 1991, c. 271, § 3, eff. Sept. 1, 1991; Laws 1992, c. 132, § 3, eff. Sept. 1, 1992; Laws 1996, c. 318, § 8, eff. July 1, 1996; Laws 2001, c. 280, § 3, eff. July 1, 2001.
§59-858-705.1. Board – Ex-officio Chairperson - Duties. A. In addition to the seven (7) appointed members of the Board, the Insurance Commissioner shall serve as ex-officio Chairperson of the Board, voting only in case of a tie. B. As Chairperson, the Insurance Commissioner, in addition to his duties prescribed by law as Insurance Commissioner on September 1, 1991, shall be required to perform the following duties, for which duties he shall be paid an additional Twelve Thousand Dollars ($12,000.00) annually, payable monthly from appropriations made to the Insurance Department: 1. Keep records of the proceedings of the Board; 2. Call special meetings of the Board when in the judgment of the chairperson it is necessary or proper to do so; 3. Procure appropriate examination questions and answers which shall meet criteria established by the Appraisal Qualifications Board of the Appraisal Foundation and approved by the Board; 4. Prepare and file an annual report with the Speaker of the House of Representatives, the President Pro Tempore of the Senate and the Governor detailing the number of applicants for the examination and the pass/fail rate; 5. Establish and maintain a recordkeeping system approved by the Board to monitor compliance with the continuing education requirements imposed by law; 6. Make recommendations to the Board concerning the establishment of administrative procedures for conducting disciplinary proceedings pursuant to the provisions of the Oklahoma Certified Real Estate Appraisers Act; 7. Develop a procedure approved by the Board whereby persons aggrieved by the actions of a licensed or certified appraiser may file complaints with the Board; 8. Annually compile and file a report with the Speaker of the House of Representatives, President Pro Tempore of the Senate and the Governor detailing the number of complaints received by the Board, the resulting number of investigations and hearings conducted and the final disposition of these matters; 9. Prepare and file a report with the Speaker of the House of Representatives, the President Pro Tempore of the Senate and the Governor evaluating the impact of the voluntary licensure/certification program on future appraisers and recommend whether an appraiser trainee or apprenticeship program should be instituted; and 10. Submit to the Speaker of the House of Representatives, the President Pro Tempore of the Senate and the Governor on or before January 1, 1994, a report evaluating the impact of the licensure/certification requirements imposed by the Oklahoma Certified Real Estate Appraisers Act on the appraiser and banking industry and include in the report any recommendations for
amendments to the Oklahoma Certified Real Estate Appraisers Act. Added by Laws 1991, c. 271, § 4, eff. Sept. 1, 1991. Amended by Laws 2019, c. 90, § 1, eff. Nov. 1, 2019; Laws 2021, c. 298, § 2, eff. July 1, 2021.
§59-858-706. Powers and duties of Board. A. The Board shall promulgate rules and regulations to implement the provisions of the Oklahoma Certified Real Estate Appraisers Act. B. The Board shall have the following powers and duties: 1. The Real Estate Appraiser Board may employ a Director to oversee the organization and activities of the Board and to ensure compliance with rules promulgated by the Board. The Director shall perform such other duties as the Board may prescribe. The salary of the Director shall be set by the Board. The position of Director shall be an unclassified position; 2. Board employees shall be hired by and subject to the supervision and control of the Director or designee. Persons employed by the Board shall serve at the direction and pleasure of the Director. All employees are employees of this state and shall be in the unclassified service; 3. Employees of the Board shall be considered unclassified employees of the Insurance Department only for the purpose of administrative support provided by the Insurance Department; 4. The Director is authorized to employ temporary workers or contract labor as may be required to properly administer the Oklahoma Certified Real Estate Appraisers Act; 5. To further define by regulation and with respect to each category of Oklahoma certified real estate appraisers the type of educational experience, appraisal experience and equivalent experience that will meet the requirements of the Oklahoma Certified Real Estate Appraisers Act, as approved by the Appraiser Qualification Board of the Appraisal Foundation; 6. To establish the examination specifications for each category of Oklahoma certified real estate appraiser; 7. To approve or disapprove applications for certification and issue certificates; 8. To further define by regulation and with respect to each category of Oklahoma certified real estate appraiser, the continuing education requirements for the renewal of certification that will meet the requirements of the Oklahoma Certified Real Estate Appraisers Act as approved by the Appraiser Qualification Board of the Appraisal Foundation; 9. To review from time to time the standards for the development and communication of real estate appraisals provided in the Oklahoma Certified Real Estate Appraisers Act and to adopt regulations explaining and interpreting the standards;
10. To establish administrative procedures for disciplinary proceedings conducted pursuant to the provisions of the Oklahoma Certified Real Estate Appraisers Act; 11. To censure, suspend and revoke certificates pursuant to the disciplinary proceedings provided in the Oklahoma Certified Real Estate Appraisers Act; and 12. To perform such other functions and duties as may be necessary in carrying out the provisions of the Oklahoma Certified Real Estate Appraisers Act. In the exercise of all powers and the performance of all duties provided in the Oklahoma Certified Real Estate Appraisers Act, the Board shall comply with the procedures provided in the Administrative Procedures Act. C. Actions of the Board shall not be subject to review by the Department. D. The members of the Board shall not be held civilly liable for any action taken in good faith by the Board in its official capacity pursuant to law unless such action is arbitrary and capricious. Added by Laws 1990, c. 327, § 7, emerg. eff. May 31, 1990. Amended by Laws 1991, c. 271, § 5, eff. Sept. 1, 1991; Laws 2014, c. 97, § 1, eff. Nov. 1, 2014; Laws 2021, c. 298, § 3, eff. July 1, 2021.
§59-858-707. Powers and duties of Insurance Department. The Insurance Department shall have the following powers and duties: 1. The Department shall provide administrative support for the Board including, but not limited to, office space, equipment and furnishings, IT support, payroll and employee benefit administration and processing, and travel and expense reimbursement, and shall manage the Board's funds at the direction of the Board. The Insurance Department shall be entitled to reimbursement for the annual cost of providing administrative support. Upon invoice and a written directive of any expenditure approved by the Director, the Insurance Department shall process and make payment for the expenditure from Board funds within fifteen (15) business days of receipt of the written directive from the Board. All other Board- directed expenditures shall be processed according to Insurance Department policy; 2. To receive application for Oklahoma certification; 3. To establish the administrative procedures for processing applications for Oklahoma certification; 4. To maintain a registry of the names and addresses of people certified pursuant to the provisions of the Oklahoma Certified Real Estate Appraisers Act and transmit such registry to the Appraisal Subcommittee;
5. To retain records and all application materials submitted to it; and 6. To assist the Board in such other manner as may be requested. Added by Laws 1990, c. 327, § 8, emerg. eff. May 31, 1990. Amended by Laws 2021, c. 298, § 4, eff. July 1, 2021.
§59-858-708. Fees. A. The Insurance Department shall charge and collect fees not to exceed the following: 1. Trainee Appraiser Certificate (annually) $300.00 2. State Licensed Appraiser Certificate (annually) $300.00 3. State Certified General Appraiser Certificate (annually) $300.00 4. State Certified Residential Appraiser Certificate (annually) $300.00 5. State Licensed Appraiser Examination $150.00 6. State Certified General Appraiser Examination $150.00 7. State Certified Residential Appraiser Examination $150.00 8. Reexamination Fee $150.00 9. Late Fee $50.00 10. Reinstatement Fee $50.00 11. Duplicate for Lost or Destroyed Certificate $5.00 12. Temporary Practice Fee Per Appraisal $50.00 13. Maximum Temporary Practice Fee Per Assignment $150.00 B. The Department shall charge and collect such fees as may be promulgated by administrative rule by the Real Estate Appraiser Board for the conduct of experience reviews required in the licensing process. C. The Department shall charge and collect such fees as may be promulgated by administrative rule by the Real Estate Appraiser Board for review of submissions by course providers and instructors. D. All state licensed, state certified residential, and state certified general appraisers shall be responsible for payment of all Federal Registry Fees. The Real Estate Appraiser Board shall promulgate rules to assist appraisers in meeting the requirements of the Appraisal Subcommittee of the Federal Financial Institutions Examination Council. Added by Laws 1990, c. 327, § 9, emerg. eff. May 31, 1990. Amended by Laws 1991, c. 271, § 6, eff. Sept. 1, 1991; Laws 1992, c. 132, § 4, eff. Sept. 1, 1992; Laws 1994, c. 144, § 2, eff. Sept. 1, 1994;
Laws 1996, c. 318, § 9, eff. July 1, 1996; Laws 2001, c. 280, § 4, eff. July 1, 2001; Laws 2006, c. 165, § 4, eff. Nov. 1, 2006; Laws 2012, c. 216, § 1, eff. July 1, 2012.
§59-858-709. Applications for certification, renewal and examination - Fees - Pledge of compliance with Board standards - Temporary appraisers - Consent to suits and actions. A. Applications for original certification, renewal certification and examinations shall be made in writing to the Insurance Department on forms approved by the Real Estate Appraiser Board. Effective January 1, 2015, applicants for original certification must submit to a criminal history records search that complies with Section 858-709A of this title. B. Appropriate fees, as fixed by the Department pursuant to Section 858-708 of this title, must accompany all applications for renewal certification. C. At the time of filing an application for certification, each applicant shall sign a pledge to comply with the standards set forth in the Oklahoma Certified Real Estate Appraisers Act, and state that such applicant understands the types of misconduct for which disciplinary proceedings may be initiated against an Oklahoma certified real estate appraiser, as set forth in the Oklahoma Certified Real Estate Appraisers Act. D. In accordance with Section 3351 of Title 12 of the United States Code, the Board shall recognize, on a temporary basis, the certification or license of an appraiser issued by another state if: 1. The property to be appraised is part of a federally related transaction, as defined in the federal real estate appraisal reform amendments; 2. The appraiser's business is of a temporary nature and certified by the appraiser; 3. The appraiser registers the temporary practice with the Board and pays fees as provided herein; and 4. The appraiser resides in or is working out of a state that is also in compliance with Section 3351 of Title 12 of the United States Code, that recognizes, on a temporary basis, the certification or license of an Oklahoma appraiser in their state; or 5. As otherwise approved by the Board. E. The applicant or any person registering with the Board for temporary practice shall file an irrevocable consent that suits and actions may be commenced against such person: 1. In the proper court of any county of this state in which a cause of action may arise due to the person's actions as a state licensed or certified real estate appraiser; or 2. In the county in which the plaintiff may reside. The consent also shall stipulate and agree that service of process or pleadings on the person shall be made by service upon the
Board as the person's agent and held in all courts to be as valid and binding as if personal service had been made upon the applicant in Oklahoma. In case any processes or pleading mentioned in the case is served upon the Board, it shall be by duplicate copies, one of which shall be filed with the Board's Director and the other immediately forwarded by registered mail to the nonresident state licensed or certified real estate appraiser to whom the processes or pleadings are directed. Added by Laws 1990, c. 327, § 10, emerg. eff. May 31, 1990. Amended by Laws 1991, c. 271, § 7, eff. Sept. 1, 1991; Laws 1994, c. 144, § 3, eff. Sept. 1, 1994; Laws 2006, c. 165, § 5, eff. Nov. 1, 2006; Laws 2014, c. 97, § 2, eff. Nov. 1, 2014; Laws 2021, c. 298, § 5, eff. July 1, 2021.
§59-858-709A. Criminal history records check. For purposes of the Oklahoma Certified Real Estate Appraisers Act, the required criminal history records check shall include a state and national criminal history records search conducted by the Oklahoma State Bureau of Investigation that is not more than ninety (90) days old. Each criminal background check shall require: 1. The applicant shall submit a full set of usable fingerprints that is not more than ninety (90) days old to the Real Estate Appraiser Board for the purpose of permitting a state and federal criminal history records search pursuant to Section 150.9 of Title 74 of the Oklahoma Statutes. The OSBI may exchange these fingerprints with the Federal Bureau of Investigation (FBI); 2. The applicant shall furnish the Board fingerprints as established by Board rules and any applicable fees as required by a state or federal law enforcement agency to process the background check; 3. The Board shall forward the fingerprints along with the applicable fee for a national criminal records history search to the OSBI. The Bureau shall retain one set of fingerprints in the Automated Fingerprint Identification System and submit the other set to the FBI for a national criminal history records search; 4. Any and all state and federal criminal history record information obtained by the Board from the OSBI or the FBI that is not already a matter of public record shall be deemed confidential. The confidential information shall be restricted to the exclusive use of the Board, its members, officers, investigators, agents and attorneys in evaluating the applicant's eligibility or disqualification for licensure; and 5. Fingerprint images may be rejected by the OSBI or the FBI for a variety of reasons, including, but not limited to, fingerprint quality or an inability by the OSBI or the FBI to classify the fingerprints. These rejections require the applicant to be fingerprinted again. Applicants with fingerprints rejected will be
required to repay and be re-fingerprinted. Applicants are responsible for insuring and verifying that all data is correct in the fingerprinting process. Added by Laws 2014, c. 97, § 4, eff. Nov. 1, 2014.
§59-858-710. Classifications of certification. A. There shall be four classes for Oklahoma certified real estate appraisers: 1. State Licensed Appraiser as defined by the Appraiser Qualification Criteria promulgated by the Appraiser Qualifications Board of the Appraisal Foundation; 2. State Certified Residential Appraiser as defined by the Appraiser Qualification Criteria promulgated by the Appraiser Qualifications Board of the Appraisal Foundation; 3. State Certified General Appraiser as defined by the Appraiser Qualification Criteria promulgated by the Appraiser Qualifications Board of the Appraisal Foundation; and 4. Trainee Appraiser as defined by the Appraiser Qualification Criteria promulgated by the Appraiser Qualifications Board of the Appraisal Foundation. B. The application for original certification, renewal certification and examination shall specify the classification of certification being applied for and previously granted. Added by Laws 1990, c. 327, § 11, emerg. eff. May 31, 1990. Amended by Laws 1991, c. 271, § 8, eff. Sept. 1, 1991; Laws 1992, c. 132, § 5, eff. Sept. 1, 1992; Laws 1994, c. 144, § 4, eff. Sept. 1, 1994; Laws 2001, c. 280, § 5, eff. July 1, 2001; Laws 2006, c. 165, § 6, eff. Nov. 1, 2006.
§59-858-711. Areas of knowledge required for original certification. A. An original certification as a state licensed, state certified residential or state certified general real estate appraiser shall not be issued to any person who has not made application with the Real Estate Appraiser Board within ninety (90) days of having demonstrated through a written examination process that such person possesses the following: 1. Appropriate knowledge of technical terms commonly used in or related to real estate appraising, appraisal report writing, and economic concepts applicable to real estate; 2. Understanding of the principles of land economics, real estate appraisal processes, and of problems likely to be encountered in gathering, interpreting, and processing of data in carrying out appraisal disciplines; 3. Understanding of the standards for the development and communication of real estate appraisals as provided in the Oklahoma Certified Real Estate Appraisers Act;
4. Knowledge of theories of depreciation, cost estimating, methods of capitalization, and the mathematics of real estate appraisal that are appropriate for the classification of certificate applied for; 5. Knowledge of other principles and procedures as may be appropriate for the respective classifications; 6. Basic understanding of real estate law; and 7. Understanding of the types of misconduct for which disciplinary proceedings may be initiated against a trainee, state licensed, state certified residential or state certified general real estate appraiser, as set forth in the Oklahoma Certified Real Estate Appraisers Act. B. As long as the Board contracts with a private testing firm in the administration of the written examination process, the Board shall not require passing test scores which deviate from the recommendations of such private testing firm. Added by Laws 1990, c. 327, § 12, emerg. eff. May 31, 1990. Amended by Laws 1991, c. 271, § 9, eff. Sept. 1, 1991; Laws 1992, c. 132, § 6, eff. Sept. 1, 1992; Laws 2001, c. 280, § 6, eff. July 1, 2001; Laws 2006, c. 165, § 7, eff. Nov. 1, 2006.
§59-858-712. Examination for certification - Prerequisites. A. State Certified General Appraiser - As a prerequisite to taking the examination for certification as a State Certified General Appraiser, an applicant shall present satisfactory evidence to the Real Estate Appraiser Board that such applicant has successfully completed the minimum educational requirement specified by the Appraiser Qualification Criteria promulgated by the Appraiser Qualifications Board of the Appraisal Foundation of courses in subjects related to real estate appraisal from a nationally recognized appraisal organization or college or university or technology center school or private school approved by the Board and such classes shall be made available on a regional basis throughout the State of Oklahoma prior to the required examination date which must include classroom hours related to standards of professional practice. B. State Certified Residential Appraiser - As a prerequisite to taking the examination for certification as a State Certified Residential Appraiser, an applicant shall present satisfactory evidence to the Board that such applicant has successfully completed the minimum educational requirement specified by the Appraiser Qualification Criteria promulgated by the Appraiser Qualifications Board of the Appraisal Foundation of courses in subjects related to real estate appraisal from a nationally recognized appraisal organization or college or university or technology center school or private school approved by the Board and such classes shall be made available on a regional basis throughout this state prior to the
required examination date which must include classroom hours related to standards of professional practice. C. State Licensed Appraiser - As a prerequisite to taking the examination for certification as a State Licensed Appraiser, an applicant shall present satisfactory evidence to the Board that such applicant has successfully completed the minimum education requirement specified by the Appraiser Qualification Criteria promulgated by the Appraiser Qualifications Board of the Appraisal Foundation of courses in subjects related to real estate appraisal from a nationally recognized appraisal organization or a college or university or technology center school or private school approved by the Board and such classes shall be made available on a regional basis throughout the State of Oklahoma prior to the required examination date which must include classroom hours related to standards of professional practice. Provided, that any appraiser who becomes state licensed prior to July 1, 2001, shall not be required to complete any additional classroom hours necessary to meet the minimum requirements of the Appraiser Qualifications Board of the Appraisal Foundation in order to maintain certification as a state licensed appraiser. D. Trainee Appraiser – There shall be no examination for certification as a Trainee Appraiser. As a prerequisite to certification as a Trainee Appraiser, an applicant shall present satisfactory evidence to the Board that such applicant has successfully completed the minimum education requirement specified by the Appraiser Qualification Criteria promulgated by the Appraiser Qualifications Board of the Appraisal Foundation of courses in subjects related to real estate appraisal from a nationally recognized appraisal organization or a college or university or area technology center school or private school approved by the Board and such classes shall be made available on a regional basis throughout the State of Oklahoma prior to the required examination date which must include classroom hours related to standards of professional practice. Added by Laws 1990, c. 327, § 13, emerg. eff. May 31, 1990. Amended by Laws 1991, c. 271, § 10, eff. Sept. 1, 1991; Laws 1992, c. 132, § 7, eff. Sept. 1, 1992; Laws 1994, c. 144, § 5, eff. Sept. 1, 1994; Laws 2001, c. 33, § 49, eff. July 1, 2001; Laws 2001, c. 280, § 7, eff. July 1, 2001; Laws 2006, c. 165, § 8, eff. Nov. 1, 2006; Laws 2025, c. 112, § 1, eff. Nov. 1, 2025.
§59-858-713. Experience required for certification - Qualifications. A. An original certification as a state certified general or a state certified residential or state licensed appraiser shall not be issued to any person who does not possess the equivalent of the minimum requirements of experience promulgated by the Appraiser
Qualifications Board of the Appraisal Foundation in real property appraisal supported by adequate written reports or file memoranda. Provided, no experience shall be required for a trainee appraiser. Provided, any state licensed appraiser who becomes state licensed prior to July 1, 2001, shall not be required to attain the minimum requirements of experience promulgated by the Appraiser Qualifications Board to maintain certification as a state licensed appraiser. B. Each applicant for certification as a state certified general or a state certified residential or state licensed appraiser shall furnish under oath a detailed listing of the real estate appraisal reports or file memoranda for each year for which experience is claimed by the applicant. Upon request, the applicant shall make available to the Real Estate Appraiser Board for examination, a sample of appraisal reports which the applicant has prepared in the course of that applicant's appraisal practice. C. Each applicant for a certification upgrade to a state certified general or a state certified residential or state licensed appraiser shall be required to meet the prerequisites for the certification sought as provided in Section 858-712 of this title and the minimum requirements promulgated by the Appraiser Qualifications Board of the Appraisal Foundation as required by subsection A of this section. The application for a certification upgrade shall be processed as provided for an application for original certification, except all applications for certification upgrades shall be expedited. During the initial review period, all qualifications and experience including review of sample appraisal reports submitted shall be considered. Upon completion of the initial review, the applicant shall be notified as to whether or not the application for certification upgrade is approved. In the event an application for a certification upgrade is denied, a second review shall automatically commence. During a second review, the applicant may be required to submit different sample appraisal reports as authorized in subsection B of this section or other information requested by the Board or reviewer which would tend to clarify or assist in determining the applicant's qualifications and experience relating to the certification being sought. Following the completion of the second review, the applicant shall be notified in writing by the Board as to whether or not the application for certification upgrade is approved, and if denied, the notification shall state recommendations for improving qualifications and experience and any criteria for reapplication. D. In order to expedite the application process provided in this section, the Real Estate Appraiser Board shall employ by contract, as necessary, a qualified appraiser or appraisers to review the applicants’ experience for compliance with the minimum requirements promulgated by the Appraiser Qualifications Board of
the Appraisal Foundation as required by subsection A of this section. In the event the application process cannot be completed in ninety (90) days, the Real Estate Appraiser Board shall notify the applicant of the reason for delay or provide an estimated date for completion of the application process. Added by Laws 1990, c. 327, § 14, emerg. eff. May 31, 1990. Amended by Laws 1991, c. 271, § 11, eff. Sept. 1, 1991; Laws 1992, c. 132, § 8, eff. Sept. 1, 1992; Laws 1994, c. 144, § 6, eff. Sept. 1, 1994; Laws 2001, c. 280, § 8, eff. July 1, 2001; Laws 2012, c. 216, § 2, eff. July 1, 2012.
§59-858-714. Term of certificate - Expiration. The term of a certificate issued under the authority of this act shall be three (3) years from the date of issuance. The expiration date of certificate shall appear on the certificate and no other notice of its expiration need be given to its holder. Added by Laws 1990, c. 327, § 15, emerg. eff. May 31, 1990.
§59-858-715. Nonresident applicants - Consent of service of process - Reciprocal license. A. Every applicant for certification pursuant to the provisions of the Oklahoma Certified Real Estate Appraisers Act who is not a resident of this state shall submit, with the application for certification, an irrevocable consent that service of process upon the applicant may be made by delivery of the process to the Secretary of State if, in an action against the applicant in a court of this state arising out of the applicant's activities as an Oklahoma certified real estate appraiser, the plaintiff cannot, in the exercise of due diligence, effect personal service upon the applicant. B. An appraiser licensed by and residing in another state who is not licensed as an Oklahoma appraiser and who does not obtain an Oklahoma temporary practice permit for such purpose, may apply for and obtain an Oklahoma reciprocal license if: 1. The appraiser licensing and certification program of the state of the appraiser’s licensure and residence is in compliance with the reciprocity provisions of 12 U.S.C. 3351(b) and such other state has in place a policy of issuing a reciprocal certification or license for an appraiser licensed by another state; and 2. The nonresident appraiser holds a valid certification from a state whose requirements for appraiser certification or licensing meet or exceed the appraiser licensure standards established by the Oklahoma Certified Real Estate Appraisers Act. Added by Laws 1990, c. 327, § 16, emerg. eff. May 31, 1990. Amended by Laws 1994, c. 144, § 7, eff. Sept. 1, 1994; Laws 2012, c. 142, § 1, eff. Nov. 1, 2012.
§59-858-716. Nonresident applicants from states with substantially equivalent certification requirements. If, in the determination by the Board, another state is deemed to have substantially equivalent certification requirements, an applicant who is certified under the laws of such other state may obtain a certificate as an Oklahoma certified real estate appraiser upon such terms and conditions as may be determined by the Board provided they are in good standing with the state in which they hold a current certification and have become a resident of Oklahoma. Added by Laws 1990, c. 327, § 17, emerg. eff. May 31, 1990. Amended by Laws 1994, c. 144, § 8, eff. Sept. 1, 1994.
§59-858-717. Denial of certificate. A. The Board shall, in accordance with the provisions of the Oklahoma Certified Real Estate Appraisers Act relating to hearings on original certification and the requirement for such applicants to submit to a criminal history records search on and after January 1, 2015, deny the issuance of a certificate as a trainee, state- licensed, state-certified residential or state-certified general real estate appraiser to the applicant on any of the grounds stated below: 1. If the applicant has been convicted of, or pled guilty or nolo contendere to a felony in a domestic or foreign court during the five-year period immediately preceding the date of application; 2. If the applicant has been convicted of, or pled guilty or nolo contendere to a felony in a domestic or foreign court at any time preceding the date of application if such felony involved an act of fraud, dishonesty, a breach of trust or money laundering; or 3. The applicant has failed to demonstrate character and general fitness such as to warrant a determination that the applicant may not operate honestly and fairly in the conduct of appraisals as outlined within the real property appraisal qualifications criteria established by the Appraiser Qualifications Board. B. The Board may for all other applicants, in accordance with the provisions of the Oklahoma Certified Real Estate Appraisers Act relating to hearings, deny the issuance of a certificate as a trainee, state licensed, state certified residential or state certified general real estate appraiser to an applicant on any of the grounds enumerated in the Oklahoma Certified Real Estate Appraisers Act. Added by Laws 1990, c. 327, § 18, emerg. eff. May 31, 1990. Amended by Laws 1991, c. 271, § 12, eff. Sept. 1, 1991; Laws 1992, c. 132, § 9, eff. Sept. 1, 1992; Laws 2001, c. 280, § 9, eff. July 1, 2001; Laws 2014, c. 97, § 3, eff. Nov. 1, 2014.
§59-858-718. Address of appraiser's principal place of business - Notification of change - Residence addresses. A. Each trainee, state licensed, state certified residential or state certified general real estate appraiser shall advise the Real Estate Appraiser Board of the address of that appraiser's principal place of business and all other addresses at which such appraiser is currently engaged in the business of preparing real property appraisal reports. B. Whenever a trainee, state licensed, state certified residential or state certified general real estate appraiser changes a place of business, that appraiser shall immediately give written notification of the change to the Board. C. Every trainee, state licensed, state certified residential or state certified general real estate appraiser shall notify the Board of that appraiser's current residence address. Residence addresses on file with the Board are exempt from disclosure as public records. Added by Laws 1990, c. 327, § 19, emerg. eff. May 31, 1990. Amended by Laws 1991, c. 271, § 13, eff. Sept. 1, 1991; Laws 1992, c. 132, § 10, eff. Sept. 1, 1992; Laws 2001, c. 280, § 10, eff. July 1, 2001; Laws 2006, c. 165, § 9, eff. Nov. 1, 2006.
§59-858-719. Certificate signatures and numbers. A. A certificate issued pursuant to the provisions of the Oklahoma Certified Real Estate Appraisers Act shall bear the signatures or facsimile signatures of the members of the Board and a certificate number assigned by the Board. B. Each trainee, state licensed, state certified residential or state certified general real estate appraiser shall place that appraiser's certificate number adjacent to or immediately below the title Trainee Appraiser, State Licensed Appraiser, State Certified Residential Appraiser or State Certified General Appraiser when used in an appraisal report or in a contract or other instrument used by the certificate holder in conducting real property appraisal activities. Added by Laws 1990, c. 327, § 20, emerg. eff. May 31, 1990. Amended by Laws 1991, c. 271, § 14, eff. Sept. 1, 1991; Laws 1992, c. 132, § 11, eff. Sept. 1, 1992; Laws 2001, c. 280, § 11, eff. July 1, 2001.
§59-858-720. Issuance of certificate to corporation, partnership, firm or group prohibited. A. The terms "Trainee, State Licensed, State Certified Residential or State Certified General Real Estate Appraiser" may only be used to refer to individuals who hold the license or certificate and may not be used following or immediately in connection with the name or signature of a firm, partnership, corporation, or group; or in such manner that it might be
interpreted as referring to a firm, partnership, corporation, group, or anyone other than an individual holder of the certificate. B. No certificate shall be issued pursuant to the provisions of the Oklahoma Certified Real Estate Appraisers Act to a corporation, partnership, firm or group. This shall not be construed to prevent a trainee, state licensed, state certified residential or state certified general real estate appraiser from signing an appraisal report on behalf of a corporation, partnership, firm or group practice. Added by Laws 1990, c. 327, § 21, emerg. eff. May 31, 1990. Amended by Laws 1991, c. 271, § 15, eff. Sept. 1, 1991; Laws 1992, c. 132, § 12, eff. Sept. 1, 1992; Laws 2001, c. 280, § 12, eff. July 1, 2001.
§59-858-721. Renewal certificate - Late renewal fee. A. To obtain a renewal certificate as a trainee, state licensed, state certified residential or state certified general real estate appraiser, the holder of a current, valid certificate shall make application and pay the prescribed fee to the Board not earlier than one hundred twenty (120) days nor later than thirty (30) days after the expiration date of the certificate then held. With the application for renewal, the trainee, state licensed, state certified residential or state certified general real estate appraiser shall present evidence in the form prescribed by the Board of having completed the continuing education requirements for renewal specified pursuant to the provisions of the Oklahoma Certified Real Estate Appraisers Act. B. If a person fails to renew a certificate as a trainee, state licensed, state certified residential or state certified general real estate appraiser prior to its expiration, the person may obtain a renewal certificate by satisfying all of the requirements for renewal and by the payment of a late renewal fee. Added by Laws 1990, c. 327, § 22, emerg. eff. May 31, 1990. Amended by Laws 1991, c. 271, § 16, eff. Sept. 1, 1991; Laws 1992, c. 132, § 13, eff. Sept. 1, 1992; Laws 2001, c. 280, § 13, eff. July 1, 2001.
§59-858-722. Continuing education requirements - Board regulations - Requirement for reinstatement. A. As a prerequisite to renewal of certification, a trainee, state licensed, state certified residential or state certified general real estate appraiser shall present evidence satisfactory to the Real Estate Appraiser Board of having met the continuing education requirements of this section. B. The basic continuing education requirement of renewal of certification shall be the completion by the applicant, during the immediately preceding term of certification, of the minimum number of classroom hours of instruction in courses or seminars according to the guidelines promulgated by the Appraiser Qualifications Board.
C. The Board shall adopt regulations for implementation of the provisions of this section assuring that persons renewing their certifications as trainee, state licensed, state certified residential or state certified general real estate appraisers have current knowledge of real property appraisal theories, practices, and techniques which will provide a high degree of service and protection to those members of the public with whom they deal in a professional relationship under authority of the certification. The regulations shall prescribe the following: 1. Policies and procedures for obtaining Board approval of courses of instruction pursuant to subsection B of this section; and 2. Standards, monitoring methods, and systems for recording attendance to be employed by course sponsors as a prerequisite to Board approval of courses for credit. D. No amendment or repeal of a regulation adopted by the Board pursuant to this section shall operate to deprive a trainee, state licensed, state certified residential or state certified general real estate appraiser of credit toward renewal of certification for any course of instruction completed by the applicant prior to the amendment or repeal of the regulation which would have qualified for continuing education credit under the regulation as it existed prior to the repeal or amendment. E. Commencing thirty (30) days after the effective date of this act, a certification as a trainee, state licensed, state certified residential or state certified general real estate appraiser that has been revoked as a result of disciplinary action by the Board shall not be reinstated unless the applicant presents evidence of completion of the continuing education required pursuant to the provisions of the Oklahoma Real Estate Appraisers Act. This requirement of evidence of continuing education shall not be imposed upon an applicant for reinstatement who has been required to successfully complete the examination for trainee, state licensed, state certified residential or state certified general real estate appraiser as a condition to reinstatement of certification. Added by Laws 1990, c. 327, § 23, emerg. eff. May 31, 1990. Amended by Laws 1991, c. 271, § 17, eff. Sept. 1, 1991; Laws 1992, c. 132, § 14, eff. Sept. 1, 1992; Laws 1994, c. 144, § 9, eff. Sept. 1, 1994; Laws 2001, c. 280, § 14, eff. July 1, 2001; Laws 2006, c. 165, § 10, eff. Nov. 1, 2006.
§59-858-723. Disciplinary proceedings – Penalties - Grounds - Civil judgment as basis - Complaints – Definitions. A. The Real Estate Appraiser Board, after notice and opportunity for a hearing, pursuant to Article II of the Administrative Procedures Act, may issue an order imposing one or more of the following penalties whenever the Board finds, by clear and convincing evidence, that a certificate holder has violated any
provision of the Oklahoma Certified Real Estate Appraisers Act, or rules promulgated pursuant thereto: 1. Revocation of the certificate with or without the right to reapply; 2. Suspension of the certificate for a period not to exceed five (5) years; 3. Probation, for a period of time and under such terms and conditions as deemed appropriate by the Board; 4. Stipulations, limitations, restrictions, and conditions relating to practice; 5. Censure, including specific redress, if appropriate; 6. Reprimand, either public or private; 7. Satisfactory completion of an educational program or programs; 8. Administrative fines as authorized by the Oklahoma Certified Real Estate Appraisers Act; and 9. Payment of costs expended by the Board for any legal fees and costs and probation and monitoring fees including, but not limited to, administrative costs, witness fees and attorney fees. B. 1. Any administrative fine imposed as a result of a violation of the Oklahoma Certified Real Estate Appraisers Act or the rules of the Board promulgated pursuant thereto shall not: a. be less than Fifty Dollars ($50.00) and shall not exceed Two Thousand Dollars ($2,000.00) for each violation of this act or the rules of the Board, or b. exceed Five Thousand Dollars ($5,000.00) for all violations resulting from a single incident or transaction. 2. All administrative fines shall be paid within thirty (30) days of notification of the certificate holder by the Board of the order of the Board imposing the administrative fine, unless the certificate holder has entered into an agreement with the Board extending the period for payment. 3. The certificate may be suspended until any fine imposed upon the licensee by the Board is paid. 4. Unless the certificate holder has entered into an agreement with the Board extending the period for payment, if fines are not paid in full by the licensee within thirty (30) days of the notification by the Board of the order, the fines shall double and the certificate holder shall have an additional thirty-day period. If the double fine is not paid within the additional thirty-day period, the certificate shall automatically be revoked. 5. All monies received by the Board as a result of the imposition of the administrative fine provided for in this section shall be deposited in the Oklahoma Certified Real Estate Appraisers Revolving Fund created pursuant to Section 858-730 of this title.
C. The rights of any holder under a certificate as a trainee, state licensed, state certified residential or state certified general real estate appraiser may be revoked or suspended, or the holder of the certificate may be otherwise disciplined pursuant to the provisions of the Oklahoma Certified Real Estate Appraisers Act, upon any of the grounds set forth in this section. The Board may investigate the actions of a trainee, state licensed, state certified residential or state certified general real estate appraiser, and may revoke or suspend the rights of a certificate holder or otherwise discipline a trainee, state licensed, state certified residential or state certified general real estate appraiser for any of the following acts or omissions: 1. Procuring or attempting to procure a certificate pursuant to the provisions of the Oklahoma Certified Real Estate Appraisers Act by knowingly making a false statement, knowingly submitting false information, refusing to provide complete information in response to a question in an application for certification or through any form of fraud or misrepresentation; 2. Failing to meet the minimum qualifications established pursuant to the provisions of the Oklahoma Certified Real Estate Appraisers Act; 3. Paying money other than provided for by the Oklahoma Certified Real Estate Appraisers Act to any member or employee of the Board to procure a certificate pursuant to the Oklahoma Certified Real Estate Appraisers Act; 4. A conviction, including a conviction based upon a plea of guilty or nolo contendere, of a felony crime that substantially relates to the practice of real estate appraisals or poses a reasonable threat to public safety; 5. An act or omission involving dishonesty, fraud, or misrepresentation with the intent to substantially benefit the certificate holder or another person or with the intent to substantially injure another person; 6. Violation of any of the standards for the development or communication of real estate appraisals as provided in the Oklahoma Certified Real Estate Appraisers Act; 7. Failure or refusal without good cause to exercise reasonable diligence in developing an appraisal, preparing an appraisal report or communicating an appraisal; 8. Negligence or incompetence in developing an appraisal, in preparing an appraisal report, or in communicating an appraisal; 9. Willfully disregarding or violating any of the provisions of the Oklahoma Certified Real Estate Appraisers Act or the regulations of the Board for the administration and enforcement of the provisions of the Oklahoma Certified Real Estate Appraisers Act; 10. Accepting an appraisal assignment when the employment itself is contingent upon the appraiser reporting a predetermined
estimate, analysis or opinion, or where the fee to be paid is contingent upon the opinion, conclusion, or valuation reached, or upon the consequences resulting from the appraisal assignment; 11. Violating the confidential nature of governmental records to which the appraiser gained access through employment or engagement as an appraiser by a governmental agency; 12. Entry of a final civil judgment against the person on grounds of deceit, fraud, or willful or knowing misrepresentation in the making of any appraisal of real property; 13. Violating any of the provisions in the code of ethics set forth in this title; or 14. Failing to at any time properly identify themselves according to the specific type of certification held. D. In a disciplinary proceeding based upon a civil judgment, the trainee, state licensed, state certified residential or state certified general real estate appraiser shall be afforded an opportunity to present matters in mitigation and extenuation, but may not collaterally attack the civil judgment. E. 1. A complaint may be filed with the Board against a trainee or state licensed or state certified appraiser for any violations relating to a specific transaction of the Oklahoma Certified Real Estate Appraisers Act by any person who is the recipient of, relies upon or uses an appraisal prepared for a federally related transaction or real-estate-related financial transaction as described in Section 858-701 of this title. 2. Any person with knowledge of any circumstances surrounding an act or omission by a trainee or state licensed or state certified appraiser involving fraud, dishonesty or misrepresentation in any real property valuation-related activity, not limited to federally related transactions, may file a complaint with the Board setting forth all facts surrounding the act or omission. 3. A complaint may be filed against a trainee or state licensed or state certified appraiser directly by the Board, if reasonable cause exists for violations of the code of ethics set forth in this act. 4. Any complaint filed pursuant to this subsection shall be in writing and shall be on a form approved by the Board, either in paper form or filed electronically. The trainee or state licensed or state certified appraiser shall be entitled to any hearings or subject to any disciplinary proceedings provided for in the Oklahoma Certified Real Estate Appraisers Act based upon any complaint filed pursuant to this subsection. F. As used in this section: 1. "Substantially relates" means the nature of criminal conduct for which the person was convicted has a direct bearing on the fitness or ability to perform one or more of the duties or responsibilities necessarily related to the occupation; and
2. "Poses a reasonable threat" means the nature of criminal conduct for which the person was convicted involved an act or threat of harm against another and has a bearing on the fitness or ability to serve the public or work with others in the occupation. Added by Laws 1990, c. 327, § 24, emerg. eff. May 31, 1990. Amended by Laws 1991, c. 271, § 18, eff. Sept. 1, 1991; Laws 1992, c. 132, § 15, eff. Sept. 1, 1992; Laws 1996, c. 318, § 10, eff. July 1, 1996; Laws 2001, c. 280, § 15, eff. July 1, 2001; Laws 2006, c. 165, § 11, eff. Nov. 1, 2006; Laws 2015, c. 183, § 5, eff. Nov. 1, 2015; Laws 2025, c. 112, § 2, eff. Nov. 1, 2025.
§59-858-724. Notice and hearing - Subpoenas and depositions. A. Before suspending or revoking any certification, the Real Estate Appraiser Board shall notify the appraiser in writing of any charges made at least thirty (30) days prior to the date set for the hearing and shall afford the appraiser an opportunity to be heard in person or by counsel. B. In any proceeding in which the Board is required to serve an order on an individual, the Board may send such material to the individual's address of record with the Board. If the order is returned with a notation by the United States Postal Service indicating that it is undeliverable for any reason, and the records of the Board indicate that the Board has not received any change of address since the order was sent, as required by the rules of the Board, the order and any subsequent material relating to the same matter sent to the most recent address on file with the Board shall be deemed by the court as having been legally served for all purposes. The written notice may be served personally or by registered or certified mail to the last-known business and/or residence address of the appraiser. C. The Board shall have the power to subpoena and issue subpoenas duces tecum and to bring before it any person in this state, or to take testimony by deposition, in the same manner as prescribed by law in judicial proceedings in the courts of this state. Added by Laws 1990, c. 327, § 25, emerg. eff. May 31, 1990. Amended by Laws 2006, c. 165, § 12, eff. Nov. 1, 2006; Laws 2019, c. 90, § 2, eff. Nov. 1, 2019.
§59-858-725. Time and place of hearing - Final order of Board - Review. A. The hearing on the charges shall be at a time and place prescribed by the Real Estate Appraiser Board and in accordance with the provisions of the Administrative Procedures Act. B. If the Board determines that an Oklahoma certified appraiser is guilty of a violation of any of the provisions of the Oklahoma Certified Real Estate Appraisers Act, it shall prepare an order
containing findings of fact, conclusions of law, and disciplinary penalties in accordance with Section 858-723 of this title. The decision and order of the Board shall be final. C. Any final decision or order of the Board shall be reviewable by a court of appropriate jurisdiction in accordance with the provisions of the Administrative Procedures Act. Added by Laws 1990, c. 327, § 26, emerg. eff. May 31, 1990. Amended by Laws 2006, c. 165, § 13, eff. Nov. 1, 2006.
§59-858-726. Uniform Standards of Professional Appraisal Practice - Compliance required. An Oklahoma certified real estate appraiser must comply with the current edition of the Uniform Standards of Professional Appraisal Practice, as promulgated by the Appraisal Standards Board of the Appraisal Foundation when involved in a federally related transaction or a real estate-related financial transaction of the agencies, instrumentalities and federally recognized entities as defined and recognized by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, or when both the appraiser and user of appraisal services agree in writing that the work product is an appraisal, or when a written appraisal states that it is in compliance with the Uniform Standards of Professional Appraisal Practice. Added by Laws 1990, c. 327, § 27, emerg. eff. May 31, 1990. Amended by Laws 1996, c. 318, § 11, eff. July 1, 1996; Laws 2006, c. 165, § 14, eff. Nov. 1, 2006.
§59-858-727. Employment of certified real estate appraiser - Compliance with Act. A client or employer may retain or employ an Oklahoma certified real estate appraiser to act as a disinterested third party in rendering an unbiased estimate of value or analysis. A client or employer may also retain or employ an Oklahoma certified real estate appraiser to provide specialized services to facilitate the client's or employer's objectives. In either case, the appraisal and the appraisal report must comply with the provisions of this act. Added by Laws 1990, c. 327, § 28, emerg. eff. May 31, 1990.
§59-858-728. Contingent fees. A. An Oklahoma certified real estate appraiser may not accept a fee for an appraisal assignment, as defined in the Oklahoma Certified Real Estate Appraisers Act, that is contingent upon the appraiser reporting a predetermined estimate, analysis or opinion or is contingent upon the opinion, conclusion or valuation reached, or upon the consequences resulting from the appraisal assignment. B. An Oklahoma certified real estate appraiser who enters into an agreement to perform specialized services, as defined in the
Oklahoma Certified Real Estate Appraisers Act, may be paid a fixed fee or a fee that is contingent on the results achieved by the specialized services. C. If an Oklahoma certified real estate appraiser enters into an agreement to perform specialized services for a contingent fee, this fact shall be clearly stated in each written and oral report. In each written report, this fact shall be clearly stated in a prominent location in such report and also in each letter of transmittal and in the certification statement made by the appraiser in such report. Added by Laws 1990, c. 327, § 29, emerg. eff. May 31, 1990.
§59-858-729. Retention of records - Inspection by Board. A. An Oklahoma certified real estate appraiser shall retain for five (5) years, originals or true copies of all written contracts engaging that appraiser's services for real property appraisal work, and all reports and supporting data assembled and formulated by the appraiser in preparing the reports. B. This five-year period for retention of records is applicable to each engagement of the services of the appraiser and shall commence upon the date of the submittal of the appraisal to the client unless, within such five-year period, the appraiser is notified that the appraisal or report is involved in litigation, in which event the five-year period for the retention of records shall commence upon the date of the final disposition of such litigation. C. All records required to be maintained pursuant to the provisions of the Oklahoma Certified Real Estate Appraisers Act shall be made available by the Oklahoma certified real estate appraiser for inspection and copying by the Board on reasonable notice to the appraiser. Added by Laws 1990, c. 327, § 30, emerg. eff. May 31, 1990.
§59-858-730. Oklahoma Certified Real Estate Appraisers Revolving Fund. There is hereby created the "Oklahoma Certified Real Estate Appraisers Revolving Fund". The fund shall consist of all monies, other than appropriated monies, received by the Department from fees collected. The fund shall be a continuing fund not subject to fiscal year limitations and shall be subject to the administrative direction of the Department. Expenditures from the fund shall be made upon warrants issued by the State Treasurer against claims made to the Director of the Office of Management and Enterprise Services. Monies may be expended for the operating expenses of the Department and the Board and shall be made pursuant to the laws of this state. Added by Laws 1990, c. 327, § 31, emerg. eff. May 31, 1990. Amended by Laws 2012, c. 304, § 271.
§59-858-731. Repealed by Laws 1992, c. 132, § 16, eff. Sept. 1, 1992.
§59-858-732. Code of ethics. A. All persons listed in paragraph 2 of subsection A of Section 858-702 of this title must conduct all real property valuations and any real property valuation-related activity in conformance with the following: 1. An appraiser must perform ethically and competently and not engage in conduct that is unlawful, unethical or improper. An appraiser who could reasonably be perceived to act as a disinterested third party in rendering an unbiased real property valuation must perform assignments with impartiality, objectivity and independence and without accommodation of personal interests; 2. The acceptance of compensation that is contingent upon the reporting of a predetermined value or a direction in value that favors the cause of the client, the amount of the value estimate, the attainment of a stipulated result or the occurrence of a subsequent event is unethical; 3. The payment of undisclosed fees, commissions or things of value in connection with the procurement of real property valuation assignments is unethical; 4. Advertising for or soliciting appraisal assignments in a manner which is false, misleading or exaggerated is unethical; 5. An appraiser must protect the confidential nature of the appraiser-client relationship; and 6. Using or attempting to use the seal, certificate, or license of another as their own; falsely impersonating any duly licensed appraiser; using or attempting to use an inactive, expired, suspended, or revoked license; or aiding or abetting any of the foregoing is unethical. B. Although this code of ethics is based upon the ethics provisions of the Uniform Standards of Professional Appraisal Practice, it is not the intent of the Legislature to incorporate the standards set forth in the Uniform Standards of Professional Appraisal Practice. Added by Laws 1996, c. 318, § 12, eff. July 1, 1996. Amended by Laws 2006, c. 165, § 15, eff. Nov. 1, 2006.
§59-858-801. Oklahoma Appraisal Management Company Regulation Act. This act shall be known and may be cited as the “Oklahoma Appraisal Management Company Regulation Act”. Added by Laws 2010, c. 364, § 1, eff. Jan. 1, 2011.
§59-858-802. Purpose of act. It is the intent of the Legislature to develop a process for real estate appraisal management company registration and regulation
in order to protect lenders, financial institutions, clients, consumers and the public from economic and financial harm and the potential for such harm that may result from interference with the independence, objectivity, and impartiality of the real estate appraisal process. The purpose of the Oklahoma Appraisal Management Company Regulation Act is to provide a process for the registration and regulation of entities conducting, performing or engaging in, or attempting to conduct, perform or engage in, real estate appraisal management services as a real estate appraisal management company within the State of Oklahoma. Added by Laws 2010, c. 364, § 2, eff. Jan. 1, 2011.
§59-858-803. Definitions. As used in the Oklahoma Appraisal Management Company Regulation Act: 1. "Affiliate" has the meaning provided in 12 U.S.C. 1841; 2. "AMC National Registry" means the registry of state- registered appraisal management companies ("AMCs") and federally- regulated AMCs maintained by the Appraisal Subcommittee; 3. "Appraisal" means the practice of developing and reporting an opinion of the value of real property in conformance with the Uniform Standards of Professional Appraisal Practice as promulgated by the Appraisal Standards Board of The Appraisal Foundation; 4. "Appraisal management company" or "AMC" means a person that provides appraisal management services to creditors or to secondary mortgage market participants, including affiliates; provides services in connection with valuing a consumer's principal dwelling as security for a consumer credit transaction or incorporating such transactions into securitizations; and within a given 12-month period oversees an appraiser panel of more than 15 state certified or state licensed appraisers in Oklahoma or 25 or more state- certified or state licensed appraisers in two or more states. An AMC does not include a department or division of an entity that provides appraisal management services only to that entity; 5. "Appraisal management services" means, directly or indirectly, to perform or attempt to perform any one or more of the following functions on behalf of a lender, financial institution, client, or any other person: a. administer an appraiser panel, b. recruit, qualify, verify licensing or certification, and negotiate fees and service level expectations with persons who are part of an appraiser panel, c. receive an order for an appraisal from one entity, and deliver the order for the appraisal to an appraiser that is part of an appraiser panel for completion,
d. track and determine the status of orders for appraisals, e. conduct quality control of a completed appraisal prior to the delivery of the appraisal to the person that ordered the appraisal, or f. provide a completed appraisal performed by an appraiser to one or more clients; 6. "Appraiser" means a person who holds a credential or a valid temporary practice permit issued by the Oklahoma Real Estate Appraiser Board pursuant to the Oklahoma Certified Real Estate Appraisers Act as a State Certified General, State Certified Residential, State Licensed, or Trainee Appraiser entitling that person to perform an appraisal of real property in the State of Oklahoma consistent with the scope of practice identified in the Real Property Appraiser Qualification Criteria promulgated by the Appraiser Qualifications Board of The Appraisal Foundation; 7. "Appraiser panel" means a network, list or roster of licensed or certified appraisers approved by an AMC to perform appraisals as independent contractors for the AMC. Appraisers on an "appraiser panel" include appraisers accepted by the AMC for consideration for future appraisal assignments in covered transactions or for secondary mortgage market participants in connection with covered transactions and appraisers engaged by the AMC to perform one or more appraisals in covered transactions or for secondary mortgage market participants in connection with covered transactions. An appraiser is an independent contractor for purposes of this subpart if the appraiser is treated as an independent contractor by the AMC for purposes of federal income taxation; 8. "Appraisal review" means the act or process of developing and communicating an opinion about the quality of another appraiser's work that was performed as part of an appraisal assignment related to the appraiser's data collection, analysis, opinions, conclusions, estimate of value, or compliance with the Uniform Standards of Professional Appraisal Practice. This term does not include: a. a general examination for grammatical, typographical or other similar errors, or b. a general examination for completeness including regulatory and/or client requirements as specified in the agreement process that does not communicate an opinion; 9. "Appraisal Subcommittee" means the Appraisal Subcommittee of the Federal Financial Examinations Council; 10. "Board" means the Oklahoma Real Estate Appraiser Board; 11. "Competent appraiser" means an appraiser that satisfies each provision of the Competency Rule of the Uniform Standards of
Professional Appraisal Practice for a specific appraisal assignment that the appraiser has received, or may receive, from an AMC; 12. "Consumer Credit" means credit offered or extended to a consumer primarily for personal, family or household purposes; 13. "Covered Transaction" means any consumer credit transaction secured by the consumer's principal dwelling; 14. "Credential" means a certificate issued by the Board pursuant to the provisions of the Oklahoma Certified Real Estate Appraisers Act authorizing an individual to act as a Trainee Appraiser, State Licensed Appraiser, Certified Residential Appraiser or State Certified General Appraiser in the State of Oklahoma; 15. "Controlling person" means: a. an owner, officer, manager, or director of a corporation, partnership, firm, association, limited liability company, or other business entity seeking to offer appraisal management services in this state, b. an individual employed, appointed, or authorized by an AMC that has the authority to enter into a contractual relationship with other persons for the performance of appraisal management services and has the authority to enter into agreements with appraisers for the performance of appraisals, or c. an individual who possesses, directly or indirectly, the power to direct or cause the direction of the management or policies of an AMC; 16. "Federally Regulated AMC" means an AMC that is owned and controlled by an insured depository institution as defined in 12 U.S.C. 1813 and regulated by the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation or the National Credit Union Administration pursuant to sections 1112, 1113 and 1114 of Title XI 12 U.S.C. 3341-3343; 17. "Person" means an individual, firm, partnership, association, corporation, or any other entity; 18. "Truth in Lending Act" or "TILA" means Title I of the Consumer Credit Protection Act (15 U.S.C.A., Section 1601 et seq.), and regulations thereunder; and 19. "Uniform Standards of Professional Appraisal Practice" or "USPAP" means the edition of the Uniform Standards of Professional Appraisal Practice promulgated by the Appraisal Standards Board of The Appraisal Foundation in force as of the date that a report of an appraisal was signed or communicated. Added by Laws 2010, c. 364, § 3, eff. Jan. 1, 2011. Amended by Laws 2016, c. 195, § 1, eff. Nov. 1, 2016; Laws 2019, c. 90, § 3, eff. Nov. 1, 2019.
§59-858-804. Application for registration.
A. It is unlawful for a person to directly or indirectly engage or to attempt to engage in business as an AMC, to directly or indirectly perform or to attempt to perform appraisal management services, or to advertise or hold itself out as engaging in or conducting business as an AMC without first obtaining a registration issued by the Oklahoma Real Estate Appraiser Board under the provisions of the Oklahoma Appraisal Management Company Regulation Act. B. The application for the registration required by subsection A of this section shall be on a form approved by the Board and shall, at a minimum, include the following information: 1. Legal name and any other trade or business name of the entity seeking registration; 2. Mailing and physical addresses of the entity seeking registration; 3. Telephone, email, website, and facsimile contact information of the entity seeking registration; 4. If the entity is a corporation that is not domiciled in this state, the name and contact information for the entity's agent for service of process in this state; 5. If the entity is a corporation, limited liability company, or partnership that is not domiciled in this state, proof that the entity is properly and currently registered with the Office of the Secretary of State; 6. The name, mailing and physical addresses, and contact information for any person that owns the AMC; 7. The name, mailing and physical addresses, and contact information for all named controlling persons; 8. A certification that the entity has a system and process in place to verify that a person being added to the appraiser panel of the AMC for appraisal services being performed in Oklahoma holds a credential in good standing in this state pursuant to the Oklahoma Certified Real Estate Appraisers Act and the rules promulgated thereunder if a license or certification is required to perform appraisals, pursuant to Section 858-817 of this title; 9. A certification that the entity has a system in place to review the work of a statistically significant number of appraisal reports submitted by each appraiser who is performing real estate appraisal services for the AMC within Oklahoma on a periodic basis to validate that the real estate appraisal services are being conducted in accordance with USPAP and the Oklahoma Certified Real Estate Appraisers Act and the rules promulgated thereunder; 10. A certification that the entity maintains a detailed record of each service request that it receives and the appraiser that performs real estate appraisal services for the AMC, pursuant to Section 858-819 of this title;
11. An irrevocable Uniform Consent to Service of Process, pursuant to Section 858-807 of this title; and 12. Any other information reasonably required by the Board to evaluate compliance with the application requirements in the Oklahoma Appraisal Management Company Regulation Act. Added by Laws 2010, c. 364, § 4, eff. Jan. 1, 2011. Amended by Laws 2016, c. 195, § 2, eff. Nov. 1, 2016; Laws 2019, c. 90, § 4, eff. Nov. 1, 2019.
§59-858-805. Applicability of act. The provisions of the Oklahoma Appraisal Management Company Regulation Act shall not apply to: 1. A department or unit within a financial institution that is subject to direct regulation by an agency of the United States Government that is a member of the Federal Financial Institutions Examination Council or its successor, or to regulation by an agency of this state, that receives a request for the performance of an appraisal from one employee of the financial institution, and another employee of the same financial institution assigns the request for the appraisal to an appraiser that is an independent contractor to the institution, except that an AMC that is a wholly owned subsidiary of a financial institution shall not be considered a department or unit within a financial institution to which the provisions of the Oklahoma Appraisal Management Company Regulation Act do not apply; 2. A person that enters into an agreement, whether written or otherwise, with an appraiser for the performance of an appraisal, and upon the completion of the appraisal, the report of the appraiser performing the appraisal is signed by both the appraiser who completed the appraisal and the appraiser who requested the completion of the appraisal, except that an AMC may not avoid the requirements of the Oklahoma Appraisal Management Company Regulation Act by requiring an employee of the AMC that is an appraiser to sign an appraisal that is completed by an appraiser that is part of the appraisal panel of the AMC; or 3. An individual or individuals who are state-certified or state-licensed appraisers in good standing credentialed by the Oklahoma Real Estate Appraiser Board and who are actively engaged in the practice of real estate appraising and, as a function of the practice, maintain a list of fifteen or fewer employees in Oklahoma or twenty-four or less employees in two or more states who are credentialed appraisers in good standing or independent contractor credentialed appraisers in good standing. Added by Laws 2010, c. 364, § 5, eff. Jan. 1, 2011. Amended by Laws 2019, c. 90, § 5, eff. Nov. 1, 2019.
§59-858-806. Duration of registration.
A registration or a renewal of a registration granted by the Board pursuant to the Oklahoma Appraisal Management Company Regulation Act shall be valid for one (1) year from the date on which it is issued. Added by Laws 2010, c. 364, § 6, eff. Jan. 1, 2011.
§59-858-807. Uniform Consent to Service of Process. Each entity applying for registration as an AMC in this state shall complete an irrevocable Uniform Consent to Service of Process, as prescribed by the Oklahoma Real Estate Appraiser Board. Added by Laws 2010, c. 364, § 7, eff. Jan. 1, 2011.
§59-858-808. Registration fees. The Oklahoma Real Estate Appraiser Board shall establish the fee to be paid by each AMC seeking registration or renewal of a registration under the Oklahoma Appraisal Management Company Regulation Act. The amount of the registration and renewal fees must be the lesser of: 1. The Board’s determination of the sum of the fees paid by all appraisal management companies seeking registration or renewal of a registration under the Oklahoma Appraisal Management Company Regulation Act sufficient for the administration of the Oklahoma Appraisal Management Company Regulation Act; or 2. Two Thousand Dollars ($2,000.00). Fees shall be received by the Oklahoma Insurance Department and shall be deposited to the Oklahoma Certified Real Estate Appraisers Revolving Fund as set forth in the Oklahoma Certified Real Estate Appraisers Act. Added by Laws 2010, c. 364, § 8, eff. Jan. 1, 2011.
§59-858-809. Ownership of AMC applying for, holding, or renewing a registration. A. An AMC applying for, holding, or renewing a registration under the Oklahoma Appraisal Management Company Regulation Act shall not be owned by: 1. A person who has held a credential issued by any appraiser- credentialing jurisdiction to act as an appraiser that was refused, denied, canceled, suspended, revoked or surrendered in lieu of a pending disciplinary proceeding in any jurisdiction and not subsequently granted or reinstated; or 2. An entity that is owned by any person who has held a credential issued by any appraiser-credentialing jurisdiction to act as an appraiser that was refused, denied, canceled, suspended, revoked or surrendered in lieu of a pending disciplinary proceeding in any jurisdiction and not subsequently granted or reinstated.
B. Each person that owns an AMC applying for, holding, or renewing a registration under the Oklahoma Appraisal Management Company Regulation Act shall: 1. Be of good moral character, as determined by the Board; and 2. Submit to a background investigation, as determined by the Board. C. Each AMC applying for registration or for renewal of a registration under the Oklahoma Appraisal Management Company Regulation Act shall certify to the Oklahoma Real Estate Appraiser Board on a form prescribed by the Board that it has reviewed each entity that owns the AMC and that no entity has had a credential issued by any appraiser-credentialing jurisdiction to act as an appraiser that was refused, denied, cancelled, suspended, revoked, or surrendered in lieu of a pending disciplinary proceeding in any jurisdiction and not subsequently granted or reinstated. Added by Laws 2010, c. 364, § 9, eff. Jan. 1, 2011. Amended by Laws 2016, c. 195, § 3, eff. Nov. 1, 2016; Laws 2019, c. 90, § 6, eff. Nov. 1, 2019.
§59-858-810. AMC controlling person. A. Each AMC applying to the Oklahoma Real Estate Appraiser Board for a registration or for a renewal of a registration in this state shall designate one controlling person that shall serve as the main contact for all communication between the Board and the AMC. B. The controlling person designated pursuant to subsection A of this section shall: 1. Remain in good standing with any appraiser-credentialing jurisdictions that the controlling person has credentials with, however, nothing in this section shall require that a designated controlling person hold an appraiser credential in any jurisdiction; 2. Have never had a credential issued by any appraiser- credentialing jurisdiction to act as an appraiser refused, denied, canceled, revoked, or surrendered in lieu of a pending disciplinary proceeding in any jurisdiction; 3. Be of good moral character, as determined by the Board; 4. Submit to a background investigation, as determined by the Board; and 5. Notify the Oklahoma Real Estate Appraiser Board of any discipline imposed by any other jurisdiction, whether state or federal, including but not limited to consent agreements or orders, in connection with any real property valuation activity including, but not limited to, public or private reprimand, censure, financial penalty, probation, restriction on practice, delisting, suspension, revocation, surrender of license or credential, debarment or any other formal or informal resolution as to the Appraisal Management Company or any of its individual controlling officers in their capacity as an appraiser.
a. Discipline imposed by another jurisdiction shall be reported in writing within ten (10) calendar days of the certificate holder's receipt of the final order or notice of the discipline imposed, and failure to report shall itself be grounds for discipline. b. The decision of the other jurisdiction that imposed discipline may not be collaterally attacked. The sole issue to be determined by the Board in the disciplinary proceeding in this state shall be the extent of the final discipline to be imposed by the Board which may be less or more severe than the discipline imposed by the other jurisdiction that imposed discipline. Added by Laws 2010, c. 364, § 10, eff. Jan. 1, 2011. Amended by Laws 2016, c. 195, § 4, eff. Nov. 1, 2016.
§59-858-811. AMC prohibited actions. An AMC that applies to the Oklahoma Real Estate Appraiser Board for a registration or to renew a registration to do business in this state as an AMC shall not: 1. Employ any person who has had a credential issued by any appraiser-credentialing jurisdiction to act as an appraiser that was refused, denied, canceled, suspended, revoked, or surrendered in lieu of a pending disciplinary proceeding in any jurisdiction and not subsequently reinstated or granted; 2. Knowingly enter into any independent contractor arrangement, whether in verbal, written, or other form for the performance of appraisal or appraisal management services, with any person who has had a credential that was issued by any appraiser-credentialing jurisdiction to act as an appraiser refused, denied, canceled, suspended, revoked, or surrendered in lieu of a pending disciplinary proceeding in any jurisdiction and not subsequently reinstated or granted; and 3. Knowingly enter into any contract, agreement, or other business relationship, whether in verbal, written, or any other form, with any entity that employs, has entered into an independent contract arrangement, or has entered into any contract, agreement, or other business relationship, whether in verbal, written, or any other form for the performance of appraisal or appraisal management services, with any person who has ever had a credential issued by any appraiser-credentialing jurisdiction to act as an appraiser that was refused, denied, canceled, suspended, revoked, or surrendered in lieu of a pending disciplinary proceeding in any jurisdiction and not subsequently reinstated or granted. Added by Laws 2010, c. 364, § 11, eff. Jan. 1, 2011. Amended by Laws 2016, c. 195, § 5, eff. Nov. 1, 2016.
§59-858-812. AMC verification that an appraiser holds a credential in good standing. Prior to placing an assignment with an appraiser on the appraiser panel of an AMC, the AMC shall verify that the appraiser receiving the assignment holds a credential in good standing in this state pursuant to the Oklahoma Certified Real Estate Appraisers Act and the rules promulgated thereunder if a license or certification is required to perform such appraisal. Letters of engagement shall include instructions to the appraiser to decline the assignment in the event the appraiser is not geographically competent or the assignment falls outside the appraiser’s scope of practice restrictions as established by the Board rules. Added by Laws 2010, c. 364, § 12, eff. Jan. 1, 2011.
§59-858-813. Credentials of employees or contractors of an AMC. Any employee of, or independent contractor to, the AMC that performs an appraisal review for a property located in Oklahoma shall be an appraiser credentialed in good standing in the State of Oklahoma. Added by Laws 2010, c. 364, § 13, eff. Jan. 1, 2011.
§59-858-814. Prohibition of contracts or agreements with uncredentialed appraisers. An AMC registered in this state pursuant to the Oklahoma Appraisal Management Company Regulation Act shall not enter into any contract or agreement with an appraiser for the performance of appraisals unless it verifies that the individual is credentialed in good standing to perform the appraisal pursuant to the Oklahoma Certified Real Estate Appraisers Act. Added by Laws 2010, c. 364, § 14, eff. Jan. 1, 2011.
§59-858-815. Annual certification of system or process to verify an appraiser's credentials. Each AMC seeking to be registered in this state shall certify to the Oklahoma Real Estate Appraiser Board on an annual basis on a form prescribed by the Board that the AMC has a system and process in place to verify that an individual being added to the appraiser panel of the AMC for appraisal services holds a credential in good standing in this state pursuant to the Oklahoma Certified Real Estate Appraisers Act. Added by Laws 2010, c. 364, § 15, eff. Jan. 1, 2011.
§59-858-816. Annual certification of system to validate an appraiser's performance. Each AMC seeking to be registered or to renew a registration in this state shall certify to the Oklahoma Real Estate Appraiser Board on a form prescribed by the Board on an annual basis that it has a
system in place to perform an appraisal review of the work product of a statistically significant number of appraisal reports submitted by each appraiser who is performing appraisals for the AMC on a periodic basis to validate that the appraisals are being conducted in accordance with the USPAP and the Oklahoma Certified Real Estate Appraisers Act and the rules promulgated thereunder. An AMC shall report to the Board the results of any appraisal reviews in which an appraisal is found to be substantially noncompliant with USPAP. Added by Laws 2010, c. 364, § 16, eff. Jan. 1, 2011.
§59-858-817. Annual certification of each service request. A. Each AMC seeking to be registered or to renew an existing registration in this state shall certify to the Oklahoma Real Estate Appraiser Board on a form prescribed by the Board on an annual basis that it maintains a detailed record of each service request that it receives for appraisal of real property located in Oklahoma. B. An AMC registered under the provisions of the Oklahoma Appraisal Management Company Regulation Act shall retain for five (5) years all records required to be maintained under the Oklahoma Appraisal Management Company Regulation Act as described in the rules promulgated by the Board in accordance with the Oklahoma Appraisal Management Company Regulation Act. This five-year period shall commence on the date of the final action by the AMC for each individual transaction or, if the AMC is notified that the transaction is involved in litigation, the five-year period shall commence on the date that the litigation is finally disposed. C. All records required to be maintained by the registered AMC pursuant to the provisions of the Oklahoma Appraisal Management Company Regulation Act and the rules promulgated thereunder shall be made available by the registration holder for inspection and copying by the Board or its designee on reasonable notice to the AMC. Added by Laws 2010, c. 364, § 17, eff. Jan. 1, 2011.
§59-858-818. Disclosure of fees paid for appraiser management services and the appraisal assignment. A. An AMC registered under the Oklahoma Appraisal Management Company Regulation Act shall be required to have a system in place to disclose to its client the fees paid for appraisal management services and the fees paid to the appraiser for the completion for an appraisal assignment. B. An AMC registered under the Oklahoma Appraisal Management Company Regulation Act that applies for registration in this state shall not prohibit an appraiser that is part of an appraiser panel of the AMC from recording the fee that the appraiser was paid by the AMC for the performance of the appraisal within the communication of the appraisal that is submitted by the appraiser to the AMC. Added by Laws 2010, c. 364, § 18, eff. Jan. 1, 2011.
§59-858-819. Violations of act. A. Appraisal Management Companies shall comply with the appraisal independence requirements of Section 129E(a) through (i) of the Truth in Lending Act, 15 U.S.C., Section 1639e(a) through (i), and regulations thereunder. B. It shall be unlawful and a violation of the Oklahoma Appraisal Management Company Regulation Act for any employee, partner, director, officer, or agent of an AMC to influence or attempt to influence the development, reporting, result, or review of an appraisal through coercion, extortion, collusion, compensation, inducement, intimidation, bribery or in any other manner, including but not limited to: 1. Withholding or threatening to withhold timely payment or partial payment for an appraisal with the exception of a substandard or noncompliant appraisal; 2. Withholding or threatening to withhold, either expressed or implied, future business from, or demoting or terminating or threatening to demote or terminate an appraiser; 3. Promising, either expressed or implied, future business, promotions, or increased compensation for an appraiser; 4. Conditioning an assignment of an appraisal or the payment of an appraisal fee or salary or bonus on the opinion, conclusion, or valuation to be reached, or on a preliminary estimate or opinion requested from an appraiser; 5. Requesting that an appraiser provide an estimated, predetermined, or desired valuation in an appraisal, or provide estimated values or comparable sales at any time prior to the appraiser's completion of an appraisal; 6. Providing to an appraiser an anticipated, estimated, encouraged, or desired value for a subject property or a proposed or target amount to be loaned to the borrower, except that a copy of the sales contract for purchase transactions may be provided; 7. Providing to an appraiser, or any entity or individual related to the appraiser, stock or other financial or nonfinancial benefit or thing of value; 8. Allowing or directing the removal of an appraiser from an appraiser panel, or the addition of an appraiser to an exclusionary list of disapproved appraisers used by any entity, without prior written notice to such appraiser; 9. Any other act or practice that impairs or attempts to impair an appraiser's independence, objectivity, or impartiality; 10. Submitting or attempting to submit false, misleading, or inaccurate information in any application for registration or renewal; 11. Failing to timely respond to any subpoena or any other request for information;
12. Failing to timely obey an administrative order of the Board; or 13. Failing to fully cooperate in any investigation. C. Nothing in subsection B of this section shall be construed as prohibiting the AMC from requesting that an appraiser: 1. Provide additional information about the basis for a valuation including consideration of additional comparable data; or 2. Correct objective factual errors in an appraisal. Added by Laws 2010, c. 364, § 19, eff. Jan. 1, 2011. Amended by Laws 2016, c. 195, § 6, eff. Nov. 1, 2016.
§59-858-820. Prohibited acts. An AMC shall not perform or attempt to perform any one or more of the following acts: 1. Require an appraiser to modify any aspect of an appraisal unless the modification complies with Section 858-819 of this title; 2. Require an appraiser to prepare an appraisal if the appraiser, in the appraiser's own independent professional judgment, believes the appraiser does not have the necessary expertise for the assignment or for the specific geographic area and has notified the AMC and declined the assignment; 3. Require an appraiser to prepare an appraisal under a time frame that the appraiser, in the appraiser's own professional judgment, believes does not afford the appraiser the ability to meet all the relevant legal and professional obligations and has notified the AMC and declined the assignment; 4. Prohibit or inhibit legal or other allowable communication between the appraiser and: a. the lender, b. a real estate licensee, or c. any other person from whom the appraiser, in the appraiser's own professional judgment, believes information would be relevant; 5. Requires the appraiser to do anything that does not comply with: a. USPAP, b. the Oklahoma Certified Real Estate Appraisers Act or the rules promulgated thereunder, or c. any assignment conditions and certifications required by the client; or 6. Makes any portion of the appraiser's fee or the AMC's fee contingent on a predetermined or favorable outcome, including but not limited to: a. a loan closing, or b. specific dollar amount being achieved by the appraiser in the appraisal.
Added by Laws 2010, c. 364, § 20, eff. Jan. 1, 2011. Amended by Laws 2016, c. 195, § 7, eff. Nov. 1, 2016.
§59-858-821. Payment within sixty days of transmitted appraisal. A. Each AMC shall, except in bona fide cases of breach of contract or substandard performance of services, make payment to an appraiser for the completion of an appraisal or valuation assignment within sixty (60) days of the date on which the appraiser transmits or otherwise provides the completed appraisal or valuation study to the AMC or its assignee unless a mutually agreed upon alternate arrangement has been previously established. B. Appraisal Management Companies are prohibited from requiring an appraiser to reimburse them for the Appraisal Subcommittee's Appraisal Management Company National Registry fee which may be charged or assessed against them. Added by Laws 2010, c. 364, § 21, eff. Jan. 1, 2011. Amended by Laws 2019, c. 90, § 7, eff. Nov. 1, 2019.
§59-858-822. Altering, modifying, or changing completed appraisal. A. An AMC shall not alter, modify, or otherwise change or attempt to alter, modify, or otherwise change a completed appraisal submitted by an appraiser by doing any of the following: 1. Permanently removing the appraiser’s signature or seal; 2. Adding information to, or removing information from, the appraisal; 3. Altering, modifying or otherwise changing a completed appraisal submitted by an independent appraiser without the appraiser’s knowledge and written consent; or 4. Using an appraisal submitted by an independent appraiser for any other transaction or use. B. No AMC shall require an appraiser to provide the AMC with the appraiser’s digital signature or seal, but nothing in this subsection shall be deemed to prohibit an appraiser from voluntarily providing his or her digital signature to another person in the manner permitted by the provisions of the USPAP. Added by Laws 2010, c. 364, § 22, eff. Jan. 1, 2011.
§59-858-823. AMC registration number. A. The Oklahoma Real Estate Appraiser Board shall issue a unique registration number to each AMC that is registered in this state. B. The Board shall maintain a list on its website of the AMCs that have registered with the Board pursuant to the Oklahoma Appraisal Management Company Regulation Act and have been issued a registration number pursuant to subsection A of this section.
C. An AMC registered in this state shall place its registration number on any instrument utilized by the AMC for procurement of appraisal services in this state. Added by Laws 2010, c. 364, § 23, eff. Jan. 1, 2011.
§59-858-824. Appraiser removed from appraiser panel. A. An AMC shall not remove an appraiser from its appraiser panel, or otherwise refuse to assign requests for real estate appraisal services to an appraiser without: 1. Notifying the appraiser in writing of the reasons why the appraiser is being removed from the appraiser panel of the AMC; 2. Providing an opportunity for the appraiser to respond to the written notification of the AMC either personally or through legal counsel; and 3. If the appraiser is being removed from the panel for illegal conduct, violation of the USPAP, or a violation of the Oklahoma Certified Real Estate Appraisers Act or the rules promulgated thereunder, providing notice to the appraiser and to the Oklahoma Real Estate Appraiser Board detailing allegations of fact and alleged violations of standards or laws. B. An appraiser that is removed from the appraiser panel of an AMC for alleged illegal conduct, violation of the USPAP, or violation of the Oklahoma Certified Real Estate Appraisers Act or the rules promulgated thereunder, may file a complaint with the Board for a review of the decision of the AMC, except that in no case shall the Board make any determination regarding the nature of the business relationship between the appraiser and the AMC which is unrelated to the actions specified in subsection A of this section. C. If an appraiser files a complaint against an AMC pursuant to subsection B of this section, the Board shall adjudicate the complaint within one (1) year. D. If after opportunity for hearing and review, the Board determines that an appraiser did not commit a violation of law, a violation of the USPAP, or a violation of the Oklahoma Certified Real Estate Appraisers Act or the rules promulgated thereunder, the Board shall order that an appraiser be promptly reinstated to the appraiser panel of the AMC that was the subject of the complaint, without prejudice. E. Following the adjudication of a complaint to the Board by an appraiser against an AMC, an AMC may not refuse to make assignments for real estate appraisal services to an appraiser, or reduce the number of assignments, or otherwise penalize the appraiser, if the Board has found that the AMC acted improperly in removing the appraiser from the appraiser panel and ordered the appraiser's reinstatement. Added by Laws 2010, c. 364, § 24, eff. Jan. 1, 2011. Amended by Laws 2019, c. 90, § 8, eff. Nov. 1, 2019.
§59-858-825. Authority to deny registration. The Oklahoma Real Estate Appraiser Board may, in accordance with the provisions of the Oklahoma Appraisal Management Company Regulation Act relating to hearings, deny the issuance of a registration or a renewal of a registration to an applicant on any of the grounds enumerated in the Oklahoma Appraisal Management Company Regulation Act. Added by Laws 2010, c. 364, § 25, eff. Jan. 1, 2011.
§59-858-826. Grounds for denial of registration. The Oklahoma Real Estate Appraiser Board may refuse to issue a registration either on an original application or a renewal application, if it has reasonable grounds to believe and finds any of the following to be true: 1. That the applicant or any partner has, within twelve (12) months preceding the date of the application violated any provision of the Oklahoma Appraisal Management Company Regulation Act or regulation of the Oklahoma Real Estate Appraiser Board; 2. That the applicant is not of good moral character; 3. That the applicant has been the holder of a registration revoked or suspended for cause, or surrendered in lieu of disciplinary proceedings; 4. That the applicant, in the case of an application for renewal of any registration, would not be eligible for such license on a first application; 5. That the issuance of the registration applied for would result in a violation of any provision of the Oklahoma Appraisal Management Company Regulation Act; or 6. When, in the judgment of the Oklahoma Real Estate Appraiser Board, the registrant has, in the conduct of affairs under the registration, demonstrated incompetency, or untrustworthiness, or conduct or practices rendering the registrant unfit to carry on appraisal management services or making continuance in the business detrimental to the public interest, or that the licensee is no longer in good faith carrying on appraisal management services, and for this conduct is found by the Oklahoma Real Estate Appraiser Board to be a source of detriment, injury, or loss to the public. Added by Laws 2010, c. 364, § 26, eff. Jan. 1, 2011.
§59-858-827. Penalties - Censure, suspension or revocation of registration, fine. The Oklahoma Real Estate Appraiser Board may censure an AMC, conditionally or unconditionally suspend or revoke any registration issued under the Oklahoma Appraisal Management Company Regulation Act, or impose administrative fines not to exceed Five Thousand Dollars ($5,000.00) per violation of the Oklahoma Appraisal
Management Company Regulation Act, if in the opinion of the Board, an AMC is attempting to perform, has performed, or has attempted to perform any of the following acts: 1. Committing any act in violation of the Oklahoma Appraisal Management Company Regulation Act; 2. Violating any rule or regulation adopted by the Board in the interest of the public and consistent with the provisions of the Oklahoma Appraisal Management Company Regulation Act; or 3. Procuring a registration or a renewal of a registration for the AMC or committing any other act by fraud, misrepresentation, or deceit. Added by Laws 2010, c. 364, § 27, eff. Jan. 1, 2011.
§59-858-828. Violation of act or rules. A. The conduct of administrative proceedings shall be in accordance with the Administrative Procedures Act and the Oklahoma Certified Real Estate Appraisers Act and the rules promulgated thereunder for violations of the Oklahoma Appraisal Management Company Regulation Act shall be vested in the Oklahoma Real Estate Appraiser Board, such that the Board, after notice and opportunity for a hearing pursuant to Article II of the Administrative Procedures Act, may issue an order imposing one or more of the following penalties whenever the Board finds, by clear and convincing evidence, that a registrant has violated any provision of the Oklahoma Appraisal Management Company Regulation Act or rules promulgated thereunder: 1. Revocation of the registration with or without the right to reapply; 2. Suspension of the registrant for a period not to exceed five (5) years; 3. Stipulations, limitations, restrictions and conditions relating to conduct of the registrant's appraisal management services practice; 4. Censure, including specific redress, if appropriate; 5. Reprimand; 6. Administrative fines not to exceed Five Thousand Dollars ($5,000.00) per violation; and 7. Payment of costs expended by the Board for any legal fees and costs and monitoring fees, including but not limited to administrative costs, witness fees and attorney fees. B. Payment of fines and costs shall be in accordance with the following: 1. All administrative fines and costs shall be paid within thirty (30) days of notifying the registrant's controlling person or the registrant's agent for service of process in this state of the order of the Board imposing the administrative fine, unless the
registrant has entered into an agreement with the Board extending the period for payment; 2. The registration may be suspended until any fine imposed upon the registrant by the Board is paid; 3. Unless the registrant has entered into an agreement with the Board extending the period for payment, if fines and costs are not paid in full by the registrant within thirty (30) days of the notification of the order, the fines and costs shall double and the registrant shall have an additional thirty-day period. If the double fine and costs are not paid within the additional thirty-day period, the registration shall automatically be revoked; and 4. All monies received by the Board as a result of the imposition of the administrative fines and costs provided for in this section shall be deposited in the Oklahoma Certified Real Estate Appraisers Revolving Fund created pursuant to Section 858-730 of this title. C. Complaint filing procedures shall be in accordance with the following: 1. Any complaint filed under the Oklahoma Appraisal Management Company Regulation Act or the rules promulgated thereunder shall be in writing and signed by the person filing same and shall be on a form prescribed by the Board. A complaint may be filed against a registrant directly by the Board, if reasonable cause exists to believe there has been a violation of the Oklahoma Appraisal Management Company Regulation Act or rules; and 2. The registrant shall be entitled to any hearings or subject to any disciplinary proceedings provided for in the Oklahoma Appraisal Management Company Regulation Act or the rules promulgated thereunder based upon any complaint filed pursuant to this section. D. Written notice of charges shall be provided as follows: 1. Before taking any administrative action against any registration, the Oklahoma Real Estate Appraiser Board shall notify the registrant in writing of any charges made at least thirty (30) days prior to the date set for hearing and shall afford the registrant an opportunity to be heard in person or by counsel; and 2. The written notice may be served personally or sent by registered or certified mail to the last-known address of either the registrant's controlling person or the registrant's service agent in this state. Added by Laws 2010, c. 364, § 28, eff. Jan. 1, 2011. Amended by Laws 2016, c. 195, § 8, eff. Nov. 1, 2016.
§59-858-829. Promulgation of rules. The Oklahoma Real Estate Appraiser Board shall promulgate rules to implement the provisions of the Oklahoma Appraisal Management Company Regulation Act. Added by Laws 2010, c. 364, § 29, eff. Jan. 1, 2011.
§59-858-830. Report to Real Estate Appraiser Board required for federally regulated AMC. A. A federally-regulated appraisal management company (AMC) operating in Oklahoma must report to the Real Estate Appraiser Board the information required to be submitted by the Real Estate Appraiser Board to the Appraisal Subcommittee of the Federal Financial Examinations Council (ASC), pursuant to the ASC's policies regarding the determination of the AMC National Registry fee, including, but not limited to, the collection of the information related to ownership limitations. B. As a state electing to register AMCs for purposes of permitting AMCs to provide appraisal management services relating to covered transactions in Oklahoma, the Real Estate Appraiser Board shall submit to the ASC the information required to be submitted by ASC regulations or guidance concerning AMCs that operate in Oklahoma. C. If the National Registry fee is received by the Real Estate Appraiser Board from a self-identifying AMC, such funds will be transmitted by the Real Estate Appraiser Board to the ASC National Registry. Added by Laws 2019, c. 90, § 9, eff. Nov. 1, 2019.