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 of the Oklahoma Abstractors Act including the duties imposed in this section;

2. To hold examinations for applicants for abstract licenses;

3. To issue abstract licenses, certificates of authority, and permits in such form as deemed appropriate;

4. To issue abstract licenses and certificates of authority to nonresidents, associations, corporations, and partnerships;

5. To suspend, revoke, or reinstate abstract licenses and certificates of authority previously issued, upon good cause shown;

6. To reprimand, place on probation, or require additional education of licensees and certificate holders upon good cause shown;

7. To establish administrative penalties and fines as provided for in Section 227.22 of this title for failure to furnish an abstract, abstract extension, supplemental abstract or final title report;

8. To prescribe and impose such administrative penalties and fines as deemed proper to be assessed against licensees and certificate holders for the failure to pay the renewal fees or for the violation or noncompliance with any provision of the Oklahoma Abstractors Act or rule or order of the Oklahoma Abstractors Board;

9. To cause the prosecution of any person who violates any of the provisions of the Oklahoma Abstractors Act;

10. To promulgate such rules and regulations governing the approval of organizations offering courses of study in real estate as are necessary for the administration of the Oklahoma Abstractors Act;

11. To establish minimum standards to be followed in the preparation of abstracts;

12. To establish a schedule of fees for applications for or renewals of certificates of authority, abstract licenses, or permits;

13. To establish the amount of the bond to be filed with applications for abstract licenses, certificates of authority, or permits;

14. To approve fee schedules of holders of certificates of authority, set criteria for determining what constitutes an excessive fee, and impose administrative penalties and fines for violations of approved fee schedules;

15. To deposit all fees and fines collected to the credit of the Oklahoma Abstractors Board Fund;

16. To confer with and seek legal assistance from the Office of the Attorney General whenever deemed appropriate by the Board; and

17. To have a seal which shall be affixed to all certificates of authority, abstract licenses, certified copies of documents on file, and such other instruments as the Board may direct, and all courts shall take judicial notice of the seal, and copies of records and proceedings of the Board and all documents filed with the Board and certified under seal shall be received as evidence in all courts of record.

Added by Laws 1984, c. 163, § 4, eff. Nov. 1, 1984. Amended by Laws 1985, c. 304, § 11, emerg. eff. July 24, 1985; Laws 2006, c. 269, § 3, eff. July 1, 2007; Laws 2007, c. 359, § 6, eff. Jan. 1, 2008. Renumbered from Title 74, § 227.13 by Laws 2007, c. 359, § 22, eff. Jan. 1, 2008.