Oklahoma § 46-314 Duties of account holders.

Oklahoma Statutes

§ 46-314 — Duties of account holders.

Oklahoma § 46-314

Title 46Mortgages

This text of Oklahoma § 46-314 (Duties of account holders.) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 46, § 46-314 (2026).

Text

A.The account holder of a home buyer savings account: 1. Shall not use funds held in a home buyer savings account to pay expenses of administering the account, except that a service fee may be deducted from the account by a financial institution in which the account is held; 2. Shall submit to the Oklahoma Tax Commission, with the account holder's Oklahoma income tax return: a. on forms prepared by the Oklahoma Tax Commission, detailed information regarding the home buyer savings account, including a list of transactions for the account during the tax year, and b. The Form 1099 issued by the financial institution for such account; and 3. Shall submit to the Oklahoma Tax Commission, upon a withdrawal of funds from a home buyer savings account, a detailed account of the eligible costs towar

Free access — add to your briefcase to read the full text and ask questions with AI

A. The account holder of a home buyer savings account: 1. Shall not use funds held in a home buyer savings account to pay expenses of administering the account, except that a service fee may be deducted from the account by a financial institution in which the account is held; 2. Shall submit to the Oklahoma Tax Commission, with the account holder's Oklahoma income tax return: a. on forms prepared by the Oklahoma Tax Commission, detailed information regarding the home buyer savings account, including a list of transactions for the account during the tax year, and b. The Form 1099 issued by the financial institution for such account; and 3. Shall submit to the Oklahoma Tax Commission, upon a withdrawal of funds from a home buyer savings account, a detailed account of the eligible costs toward which the account funds were applied and a statement of the amount of funds remaining in the account, if any. B. An account holder may withdraw funds, in whole or in part, from a home buyer savings account and deposit the funds in a new home buyer savings account held by a different financial institution or the same financial institution.