{"data":{"id":"us-ok/okla.-stat.-tit.-56-56-257","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 56, § 56-257","heading":"Permitted uses of individual development accounts","body":"Individual development accounts may be used for any of the\n\nfollowing qualified purposes:\n\n1. Qualified acquisition costs with respect to a qualified\n\nprincipal residence for a qualified home buyer, or the costs of\n\nmajor repairs or improvements to a qualified principal residence, if\n\npaid directly to the persons to whom the amounts are due;\n\n2. Amounts paid directly to a business capitalization account\n\nwhich is established in a federally insured financial institution\n\nand is restricted to use solely for qualified business\n\ncapitalization expenses consistent with a qualified plan;\n\n3. Postsecondary educational expenses paid directly to an\n\neligible educational institution;\n\n4. Amounts paid directly to an individual retirement account or\n\neducation IRA established pursuant to federal law in the name of the\n\nIDA account holder or an immediate family member thereof; and\n\n5. Qualified acquisition costs with respect to purchase of an\n\nautomobile, or costs of repair of an automobile, if paid directly to\n\na licensed automobile dealer or repair shop.","path":["OK Code","Title 56"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os56.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"49ae46690b1e6640575d025f17d3652991bfc624d30bdefc6021ff1f6cac37dd","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-56-56-256","next":"us-ok/okla.-stat.-tit.-56-56-258"},"notice":"GroundRules: Original legal text. Not legal advice."}