OK HB4236

Creates the Uniform Commercial Receivership Act to establish standardized procedures for court-appointed receivers who take possession of, manage, and dispose of property in commercial disputes and foreclosures

Applies to receiverships involving real property used for agricultural, commercial, industrial, or mineral-extraction purposes, and personal property/fixtures; excludes residential properties with 1-4 dwelling units except under specific conditions

Requires potential receivers to submit a statement under penalty of perjury confirming they are not disqualified due to conflicts of interest, and mandates posting of a bond or alternative security conditioned on faithful discharge of duties

Grants receivers broad powers including collecting and managing property, operating businesses, incurring ordinary-course debt, adopting or rejecting executory contracts, and transferring property with court approval; imposes automatic stay on actions against receivership property

Establishes procedures for creditor claims (minimum 90-day submission period), distribution priorities, receiver compensation, interim and final reporting requirements, and provides for ancillary receivership recognition from other states; effective November 1, 2026