{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-91.3","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-91.3","heading":"Definitions","body":"As used in the Oklahoma Rural and Affordable Housing Linked\n\nDeposit Act:\n\n1. \"Eligible rural housing developer\" means any individual,\n\npartnership, domestic limited liability company, or domestic\n\ncorporation within the State of Oklahoma which is engaged in the\n\nconstruction, building or development of rural housing, as certified\n\nby a state agency or instrumentality selected by the State Treasurer\n\nto perform a certification process. The certification shall be\n\ndesigned to select developers who will meet new construction needs\n\nin designated, underserved rural target markets;\n\n2. \"Eligible lending institution\" means a financial institution\n\nthat agrees to participate in the Oklahoma Rural and Affordable\n\nHousing Linked Deposit Program, and:\n\na. is eligible to make commercial loans, and\n\nb. is a public depository of state funds, or\n\nc. is an institution of the farm credit system organized\n\nunder the federal Farm Credit Act of 1971, 12 U.S.C.,\n\nSection 2001, as amended;\n\n3. \"Rural housing\" means any single-family or multifamily\n\ndwelling to be constructed or rehabilitated in rural areas of\n\nOklahoma;\n\n4. “Rural areas\" means areas of the state outside of high\n\npopulation centers and already well-developed metropolitan areas,\n\nwhich are not adequately served by existing home builders and\n\ndevelopers in meeting supply needs for adequate rural housing. The\n\ncertifying agency shall be responsible to adopt guidelines to\n\nidentify the specific rural areas which are not adequately served in\n\nmeeting supply needs for adequate housing; provided, for purposes of\n\nthis act, a \"rural area\" shall include a specific geographic area\n\nwhich meets the definition of an \"opportunity zone\" as the term is\n\ndefined in paragraph 2 of subsection G of Section 3604 of Title 68\n\nof the Oklahoma Statutes;\n\n5. \"Rural housing linked deposit\" means a certificate of\n\ndeposit placed by the State Treasurer with an eligible lending\n\ninstitution or an investment in bonds, notes, debentures, or other\n\nobligations or securities issued by the federal farm credit bank\n\nwith regard to an eligible lending institution for the purpose of\n\ncarrying out the intent of this act;\n\n6. \"Rural housing linked deposit loan package\" means the forms\n\nprovided by the State Treasurer for the purpose of applying for a\n\nrural housing linked deposit; and\n\n7. \"Certifying agency\" means the state agency or\n\ninstrumentality selected by the State Treasurer to perform the\n\ncertification process for rural housing developers, to develop\n\nguidelines required by this act, and to review individual rural\n\nhousing linked deposit loan packages.","path":["OK Code","Title 62"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os62.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"31f1aa1af04422281ec4757ee5c2a615dfa2c06fc532d3b63cd0c253693ce52c","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-91.2","next":"us-ok/okla.-stat.-tit.-62-62-91.4"},"notice":"GroundRules: Original legal text. Not legal advice."}