Oklahoma Capitol updates

Oklahoma Capitol updates
Published: May 16, 2012
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BILL UPDATES

REAL ESTATE

At stake: House Bill 2524 removes the two different classes of single-party broker and transaction broker and replaces them with a single definition of broker, with each agent having the same duties and responsibilities regardless of the transaction. The bill also further clarifies how an agent is to perform when working with only one party or both parties to a transaction.

What happened: Signed by the governor.

What's next: Takes effect Nov. 1, 2013.

DIVORCE PROCEEDINGS

At stake: Senate Bill 1951 protects a veteran's combat-related special compensation in divorce proceedings. It deems a portion of the combat-related special compensation as separate property and not divisible as a marital asset or community property. It also prohibits alimony payments, whether designated for support or for property division, to be based on the combat-related special compensation.

What happened: Signed by the governor.

What's next: Takes effect immediately.

GYM/HEALTH SPA MEMBERSHIPS

At stake: Senate Bill 1497 requires every health spa contract or membership agreement to contain provisions for the penalty-free cancellation of the contract if the health spa changes ownership and relocates, and fails to provide written authorization from the buyer to continue to collect automatic bank draft deductions or fails to provide notice by certified mail within 30 days.

What happened: Signed by the governor.

What's next: Takes effect immediately.

MICHAEL MCNUTT, CAPITOL BUREAU



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