SB836 Summary

• Amends 69 O.S. 2021, Section 1203 to establish a one (1) year deadline for mortgagees and lien holders to be held liable for returning excess compensation payments received from condemnation awards.

• Mortgagees and lien holders receiving payment exceeding the final just compensation determination are only liable to return the difference between what they received and the jury's just compensation value.

• The mortgagor remains liable to the mortgagee or lien holder for any excess amounts paid by the mortgagee or lienholder to the condemning authority.

• Reorganizes statutory language by renaming subsections from (a)-(i) to A-I for clarity and modernization.

• Effective July 1, 2025, with emergency declaration to take effect immediately upon passage and approval.