OK SB102

Amends Section 5 of the Oklahoma Energy Independence Act to clarify that loan repayment terms are negotiable between property owners and County Energy District Authorities rather than automatically tied to property tax payment schedules.

Requires loans made under the Act to be secured by a recorded mortgage in the county clerk's office and specifies that such mortgages are junior and inferior to all previously recorded liens or mortgages.

Establishes that judicial or nonjudicial foreclosure is the exclusive method for enforcing liens on properties with unpaid loans under the Act.

Limits eligible financing to appliances or improvements that are permanently affixed to the property.

Applies only to developed property where owners are current on property tax payments; effective November 1, 2011.