On Apr. 17, OKL LEG passed bill on release of mortgage affidavit fees.
OKL LEG passed bill HB 4151 prohibiting a title insurance company from charging the mortgagor/judgment debtor a preemptive fee for filing release of mortgage affidavit.
The bill would amend OKL LEG 36-5008, on the release of a mortgage affidavit.
Bill Provisions
Authorized officer or appointed agent of the title insurance firm shall not require a mortgagor or a judgment debtor to pay a fee associated with the affidavit.
Legislative History
On Feb. 5, 2024, bill introduced in House; on Mar. 12, 2024, bill was passed in House.
On Mar. 13, 2024, bill introduced in Senate; on Apr. 16, 2024, bill was passed Senate.
On Apr. 17, 2024 bill returned to House and was sent to the governor for action.
Effectiveness
If enacted, bill provisions become effective on Nov. 1, 2024.
Apr. 2024 OKL LEG Bill Approval
On Apr. 22, 2024, OKL LEG reported bill approval by governor, effective Nov. 1, 2024.
Regulators
OKL LEG
Entity Types
Corp; MG Orig; Servicer
Reference
Bill, 4/22/2024; Bill, HB4151, 4/17/2024; Citation: OKL LEG 36-5008;
