Okla. Admin. Code § 330:30-8-7

Current through Vol. 42, No. 8, January 2, 2025

Section 330:30-8-7 - Assumption and/or Transfer fee

(a) OHFA may require, for each Development, the Bond Documents contain a "due on sale or change of Ownership or Control" clause in the Bond Documents.

(b) In connection with the Transfer or change of Ownership or Control of a Development the Owner/Borrower or the purchaser shall remit to OHFA a nonrefundable assumption/ Transfer fee in an amount equal to one percent (1.00%) of the principal amount of OHFA MF Bonds outstanding as of the date of Transfer of Ownership or $3,000, whichever is greater.

Added at 10 Ok Reg 739, eff 1-4-93 (emergency); Added at 10 Ok Reg 2009, eff 5-27-93; Amended at 20 Ok Reg 2411, eff 7-11-03; Amended at 30 Ok Reg 1986, eff 7-31-13

Amended by Oklahoma Register, Volume 33, Issue 24, September 1, 2016, eff. 10/1/2016