Oklahoma Real Estate Commission has the power to cease and desist orders to any person or business entity that are in violation of Oklahoma real estate license code.
Also, may contract with debt collection entities to recover unpaid administrative fines.
Defines real estate transactions as sale, exchange, purchase, lease of real estate.
Outlines the requirements for applicants applying for a broker associate license.
Any person who violates the Oklahoma real estate license code shall pay a $5k fine.
Or the person should be imprisoned in the country jail for a period of up to 6 months.
Legislative History
On Feb. 6, 2023, bill introduced in Senate; on Mar. 23, 2023, bill passed in the Senate.
On Mar. 27, 2023, bill introduced in House; on Apr. 23, 2024, bill passed in House.
On Apr. 24, 2024, bill sent to governor; on Apr. 26, 2024, bill approved by governor.
