{"data":{"id":"us-ok/okla.-stat.-tit.-11-11-38-112","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 11, § 11-38-112","heading":"Exemption of property from judicial process and","body":"taxation.\n\nA. All property of an Urban Renewal Authority, including funds,\n\nowned or held by it for the purposes of this article shall be exempt\n\nfrom levy and sale by virtue of an execution, and no execution or\n\nother judicial process shall issue against the same nor shall\n\njudgment against an Urban Renewal Authority be a charge or lien upon\n\nsuch property; provided, however, that the provisions of this\n\nsection shall not apply to or limit the right of obligees to pursue\n\nany remedies for the enforcement of any pledge or lien given\n\npursuant to this article by an Urban Renewal Authority on its rents,\n\nfees, grants or revenues from urban renewal projects.\n\nB. The exercise of powers granted by this article will be in\n\nall respects for the benefit of the people of this state, and its\n\npolitical subdivisions, and the municipalities of this state, for\n\nthe improvement of the public health, safety, morals and general\n\nwelfare of the people. The activities of an Urban Renewal Authority\n\npursuant to this article constitute an essential governmental\n\nfunction and the property or funds of an Urban Renewal Authority,\n\nacquired or held for the purposes of this article, are declared to\n\nbe public property used for essential public and governmental\n\npurposes and such property shall be exempt from all taxes of the\n\nstate, the county, the municipality or any other political\n\nsubdivision thereof; provided, that such tax exemption shall\n\nterminate when the Urban Renewal Authority sells such property in an\n\nurban renewal area to a purchaser who is not a public body entitled\n\nto tax exemption with respect to such property; or if such property\n\nis leased by the Urban Renewal Authority, then the improvements\n\nplaced thereon shall not be entitled to such tax exemption.\n\nProvided, further, that the Urban Renewal Authority is limited in\n\nits authority to acquire property to the acquisition which is\n\nnecessary in the carrying out of an urban renewal plan.","path":["OK Code","Title 11"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os11.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"169a4c9b21aa25f6799f5fe3c5055098016545d8cec4cf20608373ede8e1387a","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-11-11-38-111","next":"us-ok/okla.-stat.-tit.-11-11-38-113"},"notice":"GroundRules: Original legal text. Not legal advice."}