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HOUSE OF REPRESENTATIVES - FLOOR VERSION STATE OF OKLAHOMA 2nd Session of the 60th Legislature (2026) COMMITTEE SUBSTITUTE FOR HOUSE BILL NO.
ENGROSSED HOUSE BILL NO.
Kannady 7 COMMITTEE SUBSTITUTE An Act relating to receivership;
Kannady of the House and Howard of the Senate 5 An Act relating to receivership;
authorizing receiver to engage HB4236 HFLR Page 1 BOLD FACE denotes Committee Amendments.
authorizing receiver to engage professional services to perform receiver duties;
professional services to perform receiver duties;
permitting use or transfer of receivership property not in the ordinary course of business with court approval;
permitting use or transfer of receivership property not in the ordinary course of ENGR.
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4236 Page 1 business with court approval;
prohibiting receiver from rejected an unexpired lease of real property under certain circumstances;
prohibiting receiver from rejecting an unexpired lease of real property under certain circumstances;
HB4236 HFLR Page 2 BOLD FACE denotes Committee Amendments.
SECTION 2.
ENGR.
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4236 Page 2 SECTION 2.
HB4236 HFLR Page 3 BOLD FACE denotes Committee Amendments.
(1) another person that directly or indirectly controls, is controlled by, or is under common control with the person, ENGR.
(1) another person that directly or indirectly controls, is controlled by, or is under common control with the person, (2) an officer, director, manager, member, partner, employee, or trustee or other fiduciary of the person, or (3) a companion of, or an individual occupying the residence of, an individual described in divisions (1) and (2) of this subparagraph;
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4236 Page 3 (2) an officer, director, manager, member, partner, employee, or trustee or other fiduciary of the person, or (3) a companion of, or an individual occupying the residence of, an individual described in divisions (1) and (2) of this subparagraph;
"Executory contract" means a contract, including a lease, under which each party has an unperformed obligation and the failure HB4236 HFLR Page 4 BOLD FACE denotes Committee Amendments.
"Executory contract" means a contract, including a lease, under which each party has an unperformed obligation and the failure of a party to complete performance would constitute a material breach;
of a party to complete performance would constitute a material breach;
ENGR.
7.
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4236 Page 4 7.
HB4236 HFLR Page 5 BOLD FACE denotes Committee Amendments.
whatever is acquired on the sale, lease, license, exchange, or other disposition of receivership property, b.
whatever is acquired on the sale, lease, license, exchange, or other disposition of receivership property, ENGR.
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4236 Page 5 b.
"Receiver" means a person appointed by the court as the court's agent, and subject to the court's direction, to take possession of, manage, and, if authorized by this act or court HB4236 HFLR Page 6 BOLD FACE denotes Committee Amendments.
"Receiver" means a person appointed by the court as the court's agent, and subject to the court's direction, to take possession of, manage, and, if authorized by this act or court order, transfer, sell, lease, license, exchange, collect, or otherwise dispose of receivership property;
order, transfer, sell, lease, license, exchange, collect, or otherwise dispose of receivership property;
18.
ENGR.
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4236 Page 6 18.
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sums payable to a mortgagor for payment or reimbursement of expenses incurred in owning, HB4236 HFLR Page 7 BOLD FACE denotes Committee Amendments.
sums payable to a mortgagor for payment or reimbursement of expenses incurred in owning, operating, and maintaining real property or constructing or installing improvements on real property, or ENGR.
operating, and maintaining real property or constructing or installing improvements on real property, or f.
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4236 Page 7 f.
HB4236 HFLR Page 8 BOLD FACE denotes Committee Amendments.
Except as otherwise provided in subsection B of this section, the court may issue an order under this act only after notice and opportunity for a hearing appropriate in the circumstances.
Except as otherwise provided in subsection B of this section, the court may issue an order under this act only after ENGR.
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NO.
4236 Page 8 notice and opportunity for a hearing appropriate in the circumstances.
B.
HB4236 HFLR Page 9 BOLD FACE denotes Committee Amendments.
The interest is used for agricultural, commercial, industrial, or mineral-extraction purposes, other than incidental uses by an owner occupying the property as the owner's primary residence;
The interest is used for agricultural, commercial, industrial, or mineral-extraction purposes, other than incidental ENGR.
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4236 Page 9 uses by an owner occupying the property as the owner's primary residence;
HB4236 HFLR Page 10 BOLD FACE denotes Committee Amendments.
ENGR.
SECTION 5.
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B.
NO.
4236 Page 10 SECTION 5.
HB4236 HFLR Page 11 BOLD FACE denotes Committee Amendments.
ENGR.
3.
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4236 Page 11 3.
The court may condition appointment of a receiver without prior notice under paragraph 1 of subsection B of Section 3 of this act or without a prior hearing under paragraph 2 of subsection B of Section 3 of this act on the giving of security by the person HB4236 HFLR Page 12 BOLD FACE denotes Committee Amendments.
The court may condition appointment of a receiver without prior notice under paragraph 1 of subsection B of Section 3 of this act or without a prior hearing under paragraph 2 of subsection B of Section 3 of this act on the giving of security by the person ENGR.
seeking the appointment for the payment of damages, reasonable attorney fees, and costs incurred or suffered by any person if the court later concludes that the appointment was not justified.
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4236 Page 12 seeking the appointment for the payment of damages, reasonable attorney fees, and costs incurred or suffered by any person if the court later concludes that the appointment was not justified.
A person shall not disqualified from appointment as receiver solely because the person:
A person shall not be disqualified from appointment as receiver solely because the person:
HB4236 HFLR Page 13 BOLD FACE denotes Committee Amendments.
ENGR.
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4236 Page 13 1.
The court may approve the posting by a receiver with the court of alternative security such as a letter of credit or deposit HB4236 HFLR Page 14 BOLD FACE denotes Committee Amendments.
The court may approve the posting by a receiver with the court of alternative security such as a letter of credit or deposit ENGR.
of funds.
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4236 Page 14 of funds.
Except as otherwise provided by law, property that a receiver or owner acquires after appointment of the receiver shall be subject to HB4236 HFLR Page 15 BOLD FACE denotes Committee Amendments.
Except as otherwise provided by law, property that a receiver or owner acquires after appointment of the receiver shall be subject to ENGR.
a security agreement entered into before the appointment to the same extent as if the court had not appointed the receiver.
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4236 Page 15 a security agreement entered into before the appointment to the same extent as if the court had not appointed the receiver.
Unless a bona fide dispute exists about a receiver's right to possession, custody, or control of receivership property, the HB4236 HFLR Page 16 BOLD FACE denotes Committee Amendments.
Unless a bona fide dispute exists about a receiver's right to possession, custody, or control of receivership property, the ENGR.
court may sanction as civil contempt a person's failure to turn the property over when required by this section.
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B.
NO.
4236 Page 16 court may sanction as civil contempt a person's failure to turn the property over when required by this section.
On subpoena, compel a person to submit to examination under oath, or to produce and permit inspection and copying of designated HB4236 HFLR Page 17 BOLD FACE denotes Committee Amendments.
On subpoena, compel a person to submit to examination under oath, or to produce and permit inspection and copying of designated ENGR.
records or tangible things, with respect to receivership property or any other matter that may affect administration of the receivership;
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4236 Page 17 records or tangible things, with respect to receivership property or any other matter that may affect administration of the receivership;
HB4236 HFLR Page 18 BOLD FACE denotes Committee Amendments.
ENGR.
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4236 Page 18 1.
HB4236 HFLR Page 19 BOLD FACE denotes Committee Amendments.
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4236 Page 19 2.
Perform any duty imposed by court order, this act, or other law of this state.
Perform any duty imposed by court order, this act, or other laws of this state.
HB4236 HFLR Page 20 BOLD FACE denotes Committee Amendments.
ENGR.
SECTION 14.
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4236 Page 20 SECTION 14.
HB4236 HFLR Page 21 BOLD FACE denotes Committee Amendments.
ENGR.
1.
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4236 Page 21 1.
HB4236 HFLR Page 22 BOLD FACE denotes Committee Amendments.
ENGR.
1.
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4236 Page 22 1.
A receiver or professional engaged under subsection A of this section shall file with the court an itemized statement of the time spent, work performed, and billing rate of each person that HB4236 HFLR Page 23 BOLD FACE denotes Committee Amendments.
A receiver or professional engaged under subsection A of this section shall file with the court an itemized statement of the time spent, work performed, and billing rate of each person that ENGR.
performed the work and an itemized list of expenses.
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4236 Page 23 performed the work and an itemized list of expenses.
A creditor holding a valid HB4236 HFLR Page 24 BOLD FACE denotes Committee Amendments.
A creditor holding a valid ENGR.
lien on the property to be transferred may purchase the property and offset against the purchase price part or all of the allowed amount secured by the lien, if the creditor tenders funds sufficient to satisfy in full the reasonable expenses of transfer and the obligation secured by any senior lien extinguished by the transfer.
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4236 Page 24 lien on the property to be transferred may purchase the property and offset against the purchase price part or all of the allowed amount secured by the lien, if the creditor tenders funds sufficient to satisfy in full the reasonable expenses of transfer and the obligation secured by any senior lien extinguished by the transfer.
The court may condition the receiver's adoption and continued HB4236 HFLR Page 25 BOLD FACE denotes Committee Amendments.
The court may condition the receiver's adoption and continued ENGR.
performance of the contract on terms appropriate under the circumstances.
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4236 Page 25 performance of the contract on terms appropriate under the circumstances.
If at the time a receiver is appointed, the owner has the right to assign an executory contract relating to receivership HB4236 HFLR Page 26 BOLD FACE denotes Committee Amendments.
If at the time a receiver is appointed, the owner has the right to assign an executory contract relating to receivership ENGR.
property under other laws of this state, the receiver may assign the contract with court approval.
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4236 Page 26 property under other laws of this state, the receiver may assign the contract with court approval.
HB4236 HFLR Page 27 BOLD FACE denotes Committee Amendments.
ENGR.
a.
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NO.
4236 Page 27 a.
HB4236 HFLR Page 28 BOLD FACE denotes Committee Amendments.
ENGR.
SECTION 19.
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NO.
4236 Page 28 SECTION 19.
HB4236 HFLR Page 29 BOLD FACE denotes Committee Amendments.
ENGR.
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4236 Page 29 B.
The court HB4236 HFLR Page 30 BOLD FACE denotes Committee Amendments.
The court ENGR.
shall allow or disallow the claim according to the laws of this state.
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4236 Page 30 shall allow or disallow the claim according to the laws of this state.
HB4236 HFLR Page 31 BOLD FACE denotes Committee Amendments.
ENGR.
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NO.
4236 Page 31 B.
The court may discharge a receiver and terminate the court's administration of the receivership property if the court finds that appointment of the receiver was improvident or that the HB4236 HFLR Page 32 BOLD FACE denotes Committee Amendments.
The court may discharge a receiver and terminate the court's administration of the receivership property if the court finds that appointment of the receiver was improvident or that the ENGR.
circumstances no longer warrant continuation of the receivership.
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4236 Page 32 circumstances no longer warrant continuation of the receivership.
HB4236 HFLR Page 33 BOLD FACE denotes Committee Amendments.
ENGR.
6.
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NO.
4236 Page 33 6.
HB4236 HFLR Page 34 BOLD FACE denotes Committee Amendments.
ENGR.
SECTION 25.
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NO.
4236 Page 34 SECTION 25.
If a receiver sells receivership property that pursuant to subsection C of Section 16 of this act which is free and clear of a lien, the ability of a creditor to enforce an obligation that had HB4236 HFLR Page 35 BOLD FACE denotes Committee Amendments.
If a receiver sells receivership property that pursuant to subsection C of Section 16 of this act which is free and clear of a lien, the ability of a creditor to enforce an obligation that had ENGR.
been secured by the lien shall be subject to laws of this state relating to a deficiency judgment.
H.
B.
NO.
4236 Page 35 been secured by the lien shall be subject to laws of this state relating to a deficiency judgment.
HB4236 HFLR Page 36 BOLD FACE denotes Committee Amendments.
3 COMMITTEE REPORT BY:
ENGR.
COMMITTEE ON JUDICIARY AND PUBLIC SAFETY OVERSIGHT, dated 02/26/2026 - DO PASS, As Amended.
H.
5 7 9 HB4236 HFLR Page 37 BOLD FACE denotes Committee Amendments.
B.
NO.
4236 Page 36 Passed the House of Representatives the 23rd day of March, 2026.
3 Presiding Officer of the House of Representatives 6 Passed the Senate the ___ day of __________, 2026.
8 Presiding Officer of the Senate ENGR.
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4236 Page 37
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