On May 15, 2025, OKL LEG reported that bill became law without governor signature.
On May 8, OKL LEG passed bill on real estate contract contingencies.
OKL LEG passed SB 198, adding OKL LEG 60-351, regarding real estate contingencies.
Bill Provisions
Real estate contracts for the sale or exchange of real property may include contingency for securing required permits, lot changes, zoning changes, other land use approvals.
Authorizes municipalities, counties, and state to enter these real estate contracts.
Mandates the contingency on these real estate contracts shall not exceed 180 days.
Legislative History
On Feb. 3, 2025, bill introduced in Senate; on Mar. 11, 2025, bill passed in Senate.
On Mar. 12, 2025, bill introduced in House; on May 7, 2025, bill passed in the House.
On May 8, 2025, bill was sent to the governor, pending action by the governor.
Effectiveness
Upon governor approval, bill becomes effective Nov. 1, 2025.
May 2025 OKL LEG Law Without Signature
On May 15, 2025, OKL LEG reported that bill became law without governor signature.
Regulators
OKL LEG
Entity Types
CNSM; Corp
Reference
Act, 5/15/2025; Bill, SB198, 5/8/2025; Citation: OKL LEG 60;
