{"data":{"id":"us-ok/okla.-stat.-tit.-46-46-317","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 46, § 46-317","heading":"Withdrawal of funds for other purposes - Penalty","body":"Except as otherwise authorized by subsection B of Section 4 of\n\nthis act, if the account holder withdraws any funds from a home\n\nbuyer savings account for a purpose other than eligible costs for\n\nthe purchase of a single-family residence, such funds shall be\n\nincluded in the account holder's taxable income and the account\n\nholder shall pay a penalty to the Oklahoma Tax Commission equal to\n\nten percent (10%) of the amount withdrawn. Such penalty shall not\n\napply to funds withdrawn from an account that were:\n\n1. Withdrawn by reason of the account holder's death or\n\ndisability;\n\n2. A disbursement of assets of the account pursuant to a filing\n\nfor protection under the United States Bankruptcy Code, 11 U.S.C. §\n\n101 et seq.; or\n\n3. Transferred from an account established under this act into\n\nanother account established under this act in accordance with\n\nsubsection B of Section 4 of this act.","path":["OK Code","Title 46"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os46.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"b06a70773bc842d1a6b0ccd3b80564414fb19c95b3ae5910e4cb21d6f217eefa","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-46-46-316","next":"us-ok/okla.-stat.-tit.-46-46-318"},"notice":"GroundRules: Original legal text. Not legal advice."}