Okla. Admin. Code § 330:30-14-1

Current through Vol. 42, No. 7, December 16, 2024

Section 330:30-14-1 - Borrower's requirements

(a) Procedures for sale, Transfer or assumptions will be established in the AP, including the necessary documentation.

(b) The Borrower and its Affiliates and Controlling parties must covenant and agree not to sell, Transfer, or otherwise dispose of the Development, or any material portion of the Development, or any portion of their Ownership or Controlling interest in the Development without first obtaining the prior written consent of OHFA.

(c) OHFA's criteria for approval or denial of a proposed sale or Transfer shall be at the discretion of the Trustees, based upon the facts and circumstances presented by the Borrower and prospective buyer.

Okla. Admin. Code § 330:30-14-1

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 1987, eff 7-31-13

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