STATE OF OKLAHOMA

1st Session of the 54th Legislature (2013)

HOUSE BILL 1490	By:	Ritze

AS INTRODUCED

An Act relating to liens; amending 42 O.S. 2011, Section 16, which relates to priority of mortgage liens; granting builder who constructs a structure upon real property first priority over all other lienholders; and providing an effective date.

BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1.     AMENDATORY     42 O.S. 2011, Section 16, is amended to read as follows:
Section 16.  A mortgage given for the price of real property, at the time of its conveyance, has priority over all other liens created against the purchaser, except for liens filed by a builder who constructs a structure upon the real property, who shall have first priority over all other liens, subject to the operation of the recording laws.
SECTION 2.  This act shall become effective November 1, 2013.

54-1-5219	EK	01/08/13