A. The Oklahoma Municipal Energy Independence Act shall apply to developed property located within the borders of the municipality on which property taxes are paid and on which the owners of the property are current in the payment of the property taxes.
B. The trustees of a municipal energy district authority may enter into an agreement with a county to collect repayment of any loan made pursuant to the Oklahoma Municipal Energy Independence Act upon such terms as may be agreed to by the property owner and the municipal energy district authority.
C. Any loan made pursuant to the Oklahoma Municipal Energy Independence Act shall constitute a lien on the property which is the subject of the loan only upon the recording of a mortgage covering the property in the office of the county clerk. Any mortgage securing a loan shall be junior and inferior to all previously recorded liens or mortgages of any kind. The exclusive method of enforcing a lien for failure to repay any loan made pursuant to the Oklahoma Municipal Energy Independence Act shall be by judicial or nonjudicial foreclosure as provided by law.
D. Only appliances or energy-efficient improvements that are permanently affixed to the property shall be eligible for financing pursuant to the Oklahoma Municipal Energy Independence Act.
Added by Laws 2011, c. 103, § 5, eff. Nov. 1, 2011.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
