Oklahoma § 63-1074 - Additional remedies conferrable by the authority

§ 63-1074. Additional remedies conferrable by the authority

An authority shall have power, by its resolution, trust

indenture, lease or other contract, to confer upon any obligee the

right, in addition to all rights that may otherwise be conferred,

upon the happening of an event of default as defined in such

resolution or instrument, by suit, action or proceeding in any court

of competent jurisdiction:

(a) to cause possession of any project or any part thereof to be

surrendered to any such obligee.

(b) to obtain the appointment of a receiver of any project of

the authority or any part thereof and of the rents and profits

therefrom. if such receiver be appointed, he may enter and take

possession of such project or any part thereof and operate and

maintain same, and collect and receive all fees, rents, revenues, or

other charges thereafter arising therefrom, and shall keep such

monies in a separate account or accounts and apply the same in

accordance with the obligations of the authority as the court shall

direct.

(c) to require the authority and the commissioners, officers,

agents and employees thereof to account as if it and they were the

trustees of an express trust.

Laws 1965, c. 251, § 24, emerg. eff. June 18, 1965.