§59-2095.3. Exemptions.
283 words·~1 min read·
/ok/title-59-professions-and-occupations/59-2095-3·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The following are exempt from all provisions of the Oklahoma Secure and Fair Enforcement for Mortgage Licensing Act:
1. Registered mortgage loan originators, when acting for an entity described in divisions (1),
(2)and
(3)of subparagraph a of paragraph 19 of Section 2095.2 of this title;
2. An individual who offers or negotiates or modifies terms of a residential mortgage loan with or on behalf of an immediate family member of the individual;
3. An individual who offers or negotiates or modifies terms of a residential mortgage loan secured by a dwelling that served as the individual’s residence;
4. A licensed attorney who negotiates or modifies the terms of a residential mortgage loan on behalf of a client as an ancillary matter to the attorney’s representation of the client, unless the attorney is compensated by a lender, a mortgage broker or other
mortgage loan originator or by any agent of such lender, mortgage broker, or other mortgage loan originator;
5. Entities described in divisions (1),
(2)and
(3)of subparagraph a of paragraph 19 of Section 2095.2 of this title; or
6. Any entity that is an organization recognized by the Internal Revenue Service as a 501(c)(3) charitable entity that meets the conditions set forth in
(B)through
(F)of subparagraph (ii), paragraph (7), subsection
(e)of Section 1008.103 of Title 12 of the Code of Federal Regulations. Added by Laws 2009, c. 190, § 6, eff. July 1, 2009. Amended by Laws 2010, c. 415, § 25, eff. July 1, 2010; Laws 2015, c. 320, § 2, eff. Nov. 1, 2015; Laws 2021, c. 151, § 1, eff. Nov. 1, 2021; Laws 2024, c. 218, § 2, eff. Nov. 1, 2024.