{"data":{"id":"us-ok/okla.-stat.-tit.-74-74-859","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 74, § 74-859","heading":"Hearings on loan applications - Granting of loan -","body":"Limitation.\n\nThe Board of Directors of the Oklahoma Industrial Finance\n\nAuthority shall hold such hearings and examinations as to each loan\n\napplication received as shall be necessary to determine whether the\n\npublic purposes of the Oklahoma Industrial Finance Authority Act\n\nwill be accomplished by the granting of loans requested within such\n\napplications. When the Board shall have determined facts to be\n\nfavorable as to any loan application, it is hereby authorized and\n\nempowered, having due regard to the promotion of the public purposes\n\nherein declared, to grant a loan to an industrial development agency\n\nin the manner and to the extent as provided in the Oklahoma\n\nIndustrial Finance Authority Act; provided, however, that no loan\n\nshall be made by the Authority to any industrial development agency\n\nfor any single industrial development project in excess of the sum\n\nof Five Million Dollars ($5,000,000.00) if the loan is secured by a\n\nfirst mortgage on real property and One Million Dollars\n\n($1,000,000.00) if the loan is secured by a second mortgage on real\n\nproperty.","path":["OK Code","Title 74"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os74.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"6ddd0fcc9bc7af4139e941c270545dfa5c296e7595bdaaf7fbf03ca3e13bc0a5","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-74-74-858","next":"us-ok/okla.-stat.-tit.-74-74-859.1"},"notice":"GroundRules: Original legal text. Not legal advice."}