STATE OF OKLAHOMA

2nd Session of the 52nd Legislature (2010)

SENATE BILL 2147	By:	Nichols

AS INTRODUCED

An Act relating to contracts; providing for voidability of certain contracts; providing for codification; and providing an effective date.

BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1.     NEW LAW     A new section of law to be codified in the Oklahoma Statutes as Section 222 of Title 15, unless there is created a duplication in numbering, reads as follows:
Any contract between members of an immediate family, if at least one of the parties is seventy (70) years of age or older, to convey property owned by such family for at least seventy-five (75) years that does not expressly exclude the conveyance of the mineral interests to such property, shall be voidable.
SECTION 2.  This act shall become effective November 1, 2010.

52-2-3300	TEK	1/14/2010 3:23:32 PM