{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-1906","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-1906","heading":"Mortgages for indefinite amounts - Procedure","body":"If the principal indebtedness secured or which by any\n\ncontingency may be secured by a mortgage is not determinable from\n\nthe terms of the mortgage, or if a mortgage is given to secure the\n\nperformance by the mortgagor, or of any other person of a contract\n\nobligation other than the payment of a specific sum of money and the\n\nmaximum amount secured or which by any contingency may be secured by\n\nthe mortgage is not expressed therein, such mortgage shall be\n\ntaxable upon the value of the property covered by the mortgage,\n\nwhich shall be determined by the county treasurer to whom such\n\nmortgage is presented for taxation, unless at the time of presenting\n\nsuch mortgage for taxation the owner thereof shall file with the\n\ncounty treasurer a sworn statement of the maximum amount secured by\n\nthe mortgage. If such maximum amount is expressed in the mortgage\n\nor in a sworn statement filed as required by this section, such\n\namount shall be the basis for assessing the tax levied by this\n\narticle. The statement filed by the owner of a mortgage pursuant to\n\nthis section shall thereafter at all times be binding upon and\n\nconclusive against such owner, the holders of any bonds or\n\nobligations secured by such mortgage and all persons claiming\n\nthrough the mortgagee any interest in the mortgage or the mortgaged\n\npremises. If the maximum amount secured or which by any contingency\n\nmay be secured by the mortgage is not expressed in the mortgage or\n\nin a sworn statement so authorized by this section, the county\n\ntreasurer at the time such mortgage is offered for taxation may\n\nrequire the mortgagor or mortgagee to furnish him with proofs as to\n\nsuch facts as he deems necessary for the purpose of computing the\n\nvalue of the property covered by the mortgage, and such proofs shall\n\nbe preserved in his office. His determination as to the basis for\n\ncomputing the tax on such mortgage shall be subject to review on\n\nappeal to the district court under the same procedure as cases\n\nappealed from the county commissioners to the district court.","path":["OK Code","Title 68"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os68.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"9092b1ed9f8b92ba1788602288725931934487aee70eb8eea0f8d30267834e90","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-1905","next":"us-ok/okla.-stat.-tit.-68-68-1907"},"notice":"GroundRules: Original legal text. Not legal advice."}