Oklahoma § 66-309.3 - Railroad Rehabilitation Act - Powers and duties of
Full text of Oklahoma Oklahoma Statutes § 66-309.3 — Railroad Rehabilitation Act - Powers and duties of, with citation guidance and answers to common questions.
§ 66-309.3. Railroad Rehabilitation Act - Powers and duties of
Department of Transportation.
The exercise of the powers granted to the Department of
Transportation by the Railroad Rehabilitation Act will be in all
respects for the benefit of the people of this state, for the
increase of their commerce and prosperity and shall be recognized as
an essential government function.
1. On or before November 1, 2002, the Department may make loans
from the Oklahoma Railroad Maintenance Revolving Fund to a qualified
railroad entity for the purpose of financing the rehabilitation of
railroads in this state.
2. Rehabilitation loans shall be made upon such terms as the
Department deems appropriate. The loans shall be at or below market
interest and for a duration not to exceed ten (10) years. All loan
applications are subject to the approval of the Transportation
Commission.
Oklahoma Statutes - Title 66. Railroads
3. The Department shall adopt within one hundred twenty (120)
days of the effective date of this act any emergency rules necessary
to the implementation of this act.
4. No more than fifty percent (50%) of the balance of the
Oklahoma Railroad Maintenance Revolving Fund for any one (1) year
may be encumbered for Railroad Rehabilitation Act loans and the
aggregate amount of all loans from the Oklahoma Railroad Maintenance
Revolving Fund shall not exceed Five Million Dollars
($5,000,000.00).
Added by Laws 2002, c. 297, § 4, emerg. eff. May 22, 2002.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 66-309.3
What does Oklahoma Statutes § 66-309.3 cover?
Section 66-309.3 ("Railroad Rehabilitation Act - Powers and duties of") 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 § 66-309.3?
A common citation format is "Oklahoma Statutes § 66-309.3" (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 § 66-309.3 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.