{"data":{"id":"us-ok/okla.-stat.-tit.-19-19-460.5","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 19, § 19-460.5","heading":"Application - Loans - Property lien","body":"A. The Oklahoma Energy Independence Act shall apply to all\n\nproperties, except single-family residential properties, on which\n\nproperty taxes are to be paid and on which the owners of the\n\nproperty are current in the payment of the property taxes, if\n\napplicable. For the purpose of this act, property that is not\n\nclassified as single-family residential property shall be classified\n\nas commercial property. The Oklahoma Energy Independence Act shall\n\nnot apply to any property zoned as single-family residential\n\nproperty. Counties are authorized to establish commercial Property\n\nAssessed Clean Energy (PACE) programs by resolution, without the\n\nprior establishment of a County Energy District Authority, to\n\nfacilitate loans between qualifying property owners and private\n\ncapital providers. Counties that approve PACE programs are\n\nauthorized to enter into assessment contracts with property owners\n\nand private capital providers in which:\n\n1. The property owner shall be deemed to consent to the levying\n\nand collection of annual PACE assessments to repay the loan;\n\n2. The private capital provider shall collect the PACE\n\nassessments directly or through a servicer; and\n\n3. The private capital provider shall enforce the lien for an\n\nunpaid PACE assessment, pursuant to the provisions of this section.\n\nCounties may collect fees for costs incurred in the administration\n\nof the PACE program in an amount to be fixed by the applicable board\n\nof county commissioners and deposited with the county treasurer as\n\nrequired by law. A county may also retain third-party\n\nadministrators for the administration of the PACE program.\n\nB. The repayment of any loan made pursuant to the Oklahoma\n\nEnergy Independence Act shall be through annual assessments levied\n\nby the county and collected under terms agreed to by the property\n\nowner and the private capital provider.\n\n1. In the event of a mortgage on the property where a lien is\n\nrecorded pursuant to the Oklahoma Energy Independence Act, the\n\nproperty owner shall obtain written consent from any mortgage holder\n\nor holders prior to the issuance of any loan pursuant to the\n\nOklahoma Energy Independence Act.\n\n2. Such loans issued in accordance with the Oklahoma Energy\n\nIndependence Act between a property owner and a private capital\n\nprovider shall not accelerate upon default of a mortgage.\n\nC. Assessments levied to repay a loan made pursuant to the\n\nOklahoma Energy Independence Act shall constitute a lien on the\n\nproperty which is the subject of the loan only upon the recording of\n\nan assessment contract provided by the county on the property in the\n\noffice of the county clerk. Any lien imposed pursuant to the\n\nOklahoma Energy Independence Act shall run with the property and\n\nhave the same priority and status as a lien for unpaid ad valorem\n\nproperty taxes and shall not be extinguished by virtue of a sale by\n\nthe county for delinquent property taxes or other special\n\nassessments. The method of enforcing a lien for failure to pay an\n\nassessment related to any loan made pursuant to the Oklahoma Energy\n\nIndependence Act shall be by the private capital provider in the\n\nsame manner and with the same priority as the enforcement by the\n\nholder of any bond or coupon related to a lien for unpaid\n\nassessments, as provided by law and pursuant to this subsection. If\n\nany assessment levied to repay a loan made pursuant to the Oklahoma\n\nEnergy Independence Act remains unpaid for six (6) months after\n\npayment is due, the private capital provider may file an action in\n\nthe district court in which the property is located to foreclose the\n\nlien of the assessment, statutory delinquent interest, as provided\n\nin this subsection, and reasonable legal fees. Any action filed\n\npursuant to this subsection shall not accelerate repayment of the\n\nunpaid balance of a loan made pursuant to the Oklahoma Energy\n\nIndependence Act. Unpaid assessments levied to repay a loan made\nn\n\nthe district court in which the property is located to foreclose the\n\nlien of the assessment, statutory delinquent interest, as provided\n\nin this subsection, and reasonable legal fees. Any action filed\n\npursuant to this subsection shall not accelerate repayment of the\n\nunpaid balance of a loan made pursuant to the Oklahoma Energy\n\nIndependence Act. Unpaid assessments levied to repay a loan made\n\npursuant to this act shall accrue statutory delinquent interest at\n\nthe same rate as a late payment penalty for delinquent ad valorem\n\ntaxes. Judgment in an action to enforce the lien shall order the\n\nproperty to be sold in the manner and form as foreclosure of\n\nmortgages on real estate, with appraisement. The sale shall be\n\nsubject to existing taxes and special assessments, as well as\n\nassessments levied to repay a loan made pursuant to the Oklahoma\n\nEnergy Independence Act.\n\n1. Notwithstanding any other provision of law, the county\n\ntreasurer, in a sale for delinquent ad valorem property taxes or\n\nother special assessments, may collect in that sale assessments\n\nlevied to repay a loan made pursuant to this act, inclusive of\n\npenalties and fees, that are currently due or in arrears, or both,\n\nand remit the assessment amounts received to the private capital\n\nprovider.\n\n2. Notwithstanding any other provision of law, if the county\n\ntakes title to property subject to a loan made pursuant to the\n\nOklahoma Energy Independence Act, the county, and not the county\n\nresale property fund, shall be responsible for all expenses\n\nassociated with the preservation of the property and the related\n\nassessments that are due will continue to accrue, inclusive of any\n\ninterest or penalties, and shall not be extinguished.\n\nD. Only appliances or improvements that are permanently affixed\n\nto the property shall be eligible for financing pursuant to the\n\nOklahoma Energy Independence Act. Improvements shall be related to\n\nenergy efficiency, energy sources, water conservation or building\n\nresiliency and are available for new construction or improvements on\n\nexisting buildings that are qualifying properties. County PACE\n\nprograms shall establish which improvements qualify for financing.","path":["OK Code","Title 19"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os19.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"04e0498f510b253a04b684321ccc24d7daab99bfb0e45b5c36364be69fd71002","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-19-19-460.4","next":"us-ok/okla.-stat.-tit.-19-19-460.6"},"notice":"GroundRules: Original legal text. Not legal advice."}