Title 1, Title 1 — Abstracting

Sections 227.10 through 227.30 of this title shall be known and may be cited as the “Oklahoma Abstractors Act”. Added by Laws 1984, c. 163, § 1, eff. Nov. 1, 1984. Amended by Laws 2006, c. 269, § 2, eff. July 1, 2007; Laws 2007, c. 359, § 1, eff. Jan. 1, 2008. Renumbered from Tit…

As used in the Oklahoma Abstractors Act: 1. “Abstract of title” means a compilation in orderly arrangement of the materials and facts of record, in the office of the county clerk and court clerk, affecting the title to a specific tract of land issued pursuant to a certificate cer…

A. There is hereby re-created to continue until July 1, 2026, in accordance with the Oklahoma Sunset Law, the Oklahoma Abstractors Board. Beginning January 1, 2008, the Oklahoma Abstractors Board shall have the total responsibility of administering and enforcing the Oklahoma Abst…

powers. A. The Oklahoma Abstractors Board shall meet at least quarterly each calendar year, and may meet more often as determined by the Board. B. The Board shall elect from its membership a chair, a vice- chair and a secretary. The officers of the Board shall be elected each Jul…

A. The Oklahoma Abstractors Board is hereby charged with the duty of administering the Oklahoma Abstractors Act. The Board shall be the sole governmental entity, state, county or municipal, authorized to regulate and issue certificates of authority, permits, and abstract licenses…

In performing the duties imposed pursuant to the Oklahoma Abstractors Act, the Oklahoma Abstractors Board shall have the following powers and duties: 1. To prescribe, promulgate, implement and enforce rules and make such orders as deemed necessary to implement all the provisions …

There is hereby created in the State Treasury a revolving fund for the Oklahoma Abstractors Board to be designated the "Oklahoma Abstractors Board Revolving Fund". Beginning July 1, 2007, any monies collected pursuant to the Oklahoma Abstractors Law shall be deposited into the Ok…

Proof required. A. Any person, firm, corporation, or other entity desiring to engage in the business of abstracting in this state shall make application to the Oklahoma Abstractors Board for a certificate of authority for each county in which the applicant desires to do business.…

required. In addition to the bond required any person, firm, corporation, or other entity not engaged in the business of abstracting on January 1, 1984, desiring to enter into the business of compiling or abstracting titles to real estate in any of the counties of the State of Ok…

in abstracting on January 1, 1984 - Application for certificate of authority. Any person, firm, corporation, or other entity who wishes to engage in the business of abstracting in this state who was not engaged in the business of abstracting in this state on January 1, 1984, or w…

abstracting fees. A. The Oklahoma Abstractors Board shall issue a certificate of authority to any applicant who has complied with the provisions of the Oklahoma Abstractors Act. The certificate shall be in written form and shall indicate the county or counties in which the applic…

Beginning November 1, 1984, all individuals, firms, corporations, or other entities engaging in the business of abstracting, shall have available for use or commence compilation of an abstract plant and thereafter shall maintain in a current condition said plant. Failure to do so…

Valid order therefor - Failure to furnish - Penalties - Exclusions. A. All abstractors shall furnish abstracts, abstract extensions, supplemental abstracts or final title reports as desired, to the persons applying therefor, in the order of receipt of a valid order therefor, with…

another. In the event that a holder of a certificate of authority has had repeated violations of the provisions of either Section 35 or 41 of Title 1 of the Oklahoma Statutes, the Oklahoma Abstractors Board shall establish a procedure whereby a temporary certificate of authority …

Any person wishing to develop an abstract plant shall make application for a permit. The application shall be on a form prepared by the Oklahoma Abstractors Board and shall be accompanied by the fee and the bond as provided in Section 27 of Title 1 of the Oklahoma Statutes. All p…

refusal to issue certificate of authority or permit - Civil penalties. A. The Oklahoma Abstractors Board shall censure, suspend, revoke, continue, renew, or refuse to issue any certificate of authority or permit issued or applied for pursuant to the provisions of the Oklahoma Abs…

A. Any person, firm, corporation, or other entity holding a valid abstract license or permit, or any abstract licensee affiliated with such person, firm, corporation, or other entity, shall: 1. Have free access to the instruments of record affecting real property filed in any cit…

Exemptions. Any person in the employ of a holder of a certificate of authority or permit for the purpose of searching county records or compiling abstracts shall hold an abstract license. The provisions of this section shall not apply to an employee whose sole function is to put …

License fee. A. An abstract license shall be issued by the Oklahoma Abstractors Board to an applicant who: 1. Is eighteen (18) years of age or older; 2. Is of good moral character; 3. Has not been convicted of or pleaded guilty or nolo contendere to a felony or crime of moral tur…

All abstract licensees shall submit to the supervision of a holder of a certificate of authority or permit and shall inform the Oklahoma Abstractors Board in writing of the name and address of that holder of a certificate of authority or permit. If the licensee leaves the employ …

Upon good cause shown and after a hearing, the Oklahoma Abstractors Board may censure a licensee or revoke or suspend his abstract license for any of the following acts: 1. Making of a materially fraudulent statement in an application for an abstract license; or 2. Having been co…

abstract extensions, supplemental abstracts and final title reports - List of abstracting fees - Civil penalties. A. It shall be unlawful for any abstractor as an inducement to obtaining any business to pay, rebate, or deduct any portion of or to permit any deduction from a charg…

An action for damages by reason of any imperfect or false abstract hereafter compiled must be brought within five (5) years from the date the abstract certificate was issued. Added by Laws 1984, c. 163, § 20, eff. Nov. 1, 1984. Renumbered from Title 74, § 227.29 by Laws 2007, c. …

A purchaser of real property shall have the opportunity to retain possession of the abstract for the property being purchased. The purchaser shall be notified about the option to retain possession at the scheduled closing; however, if a contractual obligation to a mortgage compan…