Oklahoma Statutes
§ 42-209 — Lien on escrow account.
Oklahoma·Title 42 Liens
Except as otherwise provided in this section, whenever a claim for lien has been filed with the county clerk, and an escrow account has been established either from the proceeds from the transaction or any other source of funds in an amount equal to one hundred twenty-five percent (125%) of the amount of the claim for lien, then the lien against the commercial real estate shall be extinguished and become a lien on the funds contained in the escrow account. The establishment of an escrow account, as provided for in this section, shall not be cause for any party to refuse to close the transaction.
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Legislative History
Added by Laws 2006, c. 166, § 9, eff. Nov. 1, 2006.
Nearby Sections
15
§ 42-1
Lien defined.§ 42-10
Lien transfers no title.§ 42-100
Foreclosure of liens.§ 42-115
Enforcement of lien.§ 42-117
Selling in violation of lien.