Oklahoma § 62-91.2 - Purpose
Full text of Oklahoma Oklahoma Statutes § 62-91.2 — Purpose, with citation guidance and answers to common questions.
§ 62-91.2. Purpose
A. Oklahoma's rural areas suffer from a lack of interim
financing for builder-developers of housing in rural areas,
inadequate profit incentives for builder-developers, economy of
scale problems which work against economics of developing projects
consistent with local market needs, and lack of available interim
financing from local lenders to fund land acquisition, site
development, or construction of housing in rural areas.
B. It is the purpose of the Oklahoma Rural and Affordable
Housing Linked Deposit Act to provide funding for eligible rural
housing developers to build affordable housing in rural Oklahoma.
Oklahoma Statutes - Title 62. Public Finance
It is the specific intent of the Legislature that any funding
provided to eligible rural housing developers for the purpose of
building affordable rural housing shall assist in the development of
Oklahoma's rural areas in order to broaden Oklahoma's economic base.
C. The Oklahoma Rural and Affordable Housing Linked Deposit Act
will meet rural housing needs by creating a revolving capacity of no
more than Twenty-five Million Dollars ($25,000,000.00) to enable
eligible rural housing developers to finance land acquisition, site
development, rehabilitation, and construction of single-family or
multifamily housing units in rural areas. For purposes of
determining whether this twenty-five-million-dollar maximum is met,
the State Treasurer shall consider amounts approved for link deposit
participation, whether or not a borrower has actually used the
entire amount approved.
Added by Laws 2002, c. 287, § 2, eff. July 1, 2002. Amended by Laws
2003, c. 224, § 14, eff. July 1, 2003.
Frequently Asked Questions About Oklahoma § 62-91.2
What does Oklahoma Statutes § 62-91.2 cover?
Section 62-91.2 ("Purpose") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 62-91.2?
A common citation format is "Oklahoma Statutes § 62-91.2" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 62-91.2 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.