ARTICLE
27 May 2021

Oklahoma Exempts Charitable Entities From Mortgage Licensing Provisions

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Ballard Spahr LLP

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Ballard Spahr LLP—an Am Law 100 law firm with more than 750 lawyers in 18 U.S. offices—serves clients across industries in litigation, transactions, and regulatory compliance. A strategic legal partner to clients, Ballard goes beyond to deliver actionable, forward-thinking counsel and advocacy powered by deep industry experience and an understanding of each client’s specific business goals. Our culture is defined by an entrepreneurial spirit, collaborative environment, and top-down focus on service, efficiency, and results.
The amendment will become effective on November 1, 2021.
United States Oklahoma Finance and Banking

Oklahoma recently revised its licensing provisions under its Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) to expressly exempt 501(c)(3) charitable entities meeting certain conditions from the SAFE Act mortgage licensing requirements.

The amendment will become effective on November 1, 2021.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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