This form provides boilerplate contract clauses that make provision for how transaction costs, both initially and in the event of a dispute or litigation, will be handled under the contract agreement. Several different language options are included to suit individual needs and circumstances.
Oklahoma Negotiating and Drafting Transaction Cost Provisions
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No license shall be issued to any nonresident applicant at a higher level than the highest license of any current active license in the applicant's resident jurisdiction or another jurisdiction in which the applicant has qualified for a license.
§15-221. "Construction agreement" defined - Limitations on liability arising out of death or bodily injury void - Exceptions.
Real Estate License Reciprocity: Oklahoma has reciprocity agreements with these states: Alabama, Arkansas, Iowa, Louisiana, Maryland, Nebraska, North Dakota, South Dakota, West Virginia.
A corporation shall have power to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending, or completed action, suit, or proceeding, whether civil, criminal, administrative, or investigative, other than an action by or in the right of the corporation, by reason of the ...
OREC is the sole governing body of all things real estate in Oklahoma. Seven members make up the body and each has been appointed by the governor of the state to serve for four years.
All Oklahoma real estate advertising must be a truthful, forthcoming and accurate representation of the property or services being offered. Real estate advertising that is dishonest, inaccurate or omits pertinent facts related to the property or services being offered is strictly prohibited.
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The Oklahoma Real Estate Development Act regulates the creation, operation, management, and authority of residential homeowners associations formed after June 5, 1975, in the state.