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STATE OF OKLAHOMA
2nd Session of the 60th Legislature (2026)
HOUSE BILL 3840 By: Gann
AS INTRODUCED
An Act relating to foreign ownership of land;
providing short title; prohibiting certain entities
from owning land; creating buffers; requiring
affidavit that provides certain disclosures;
providing for recordation; providing for divesture
and certain inadvertent acquisitions; requiring the
Attorney General to investigate and enforce
provision; providing penalties; providing certain
exceptions; providing construction of act; stating
invalid provisions are severable; amending 60 O.S.
2021, Section 121, as last amended by Section 1,
Chapter 373, O.S.L. 2024 (60 O.S. Supp. 2025, Section
121), which relates to alien or foreign government
adversary ownership of land; providing definition;
requiring certain addition disclosures; providing for
noncodification; 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 not to be
codified in the Oklahoma Statutes reads as follows:
This act shall be known and may be cited as the "Foreign
Adversary & State-Owned Enterprise Land Ownership Enforcement Act".
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SECTION 2. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 121.1 of Title 60, unless there
is created a duplication in numbering, reads as follows:
A. No foreign government adversary, state-owned enterprise
(SOE), entity, or trust in which a foreign government adversary or
SOE is a beneficial owner shall acquire, hold, or control any
covered land in this state.
B. No SOE or foreign government adversary or controlled entity
may acquire any covered land:
1. Within ten (10) miles of a military installation; or
2. Within ten (10) miles of a critical infrastructure site.
C. Any transaction structured to evade this section, including
use of nominees, options, convertible instruments, side letters, or
indirect funding arrangements, constitutes a violation.
SECTION 3. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 121.2 of Title 60, unless there
is created a duplication in numbering, reads as follows:
A. In addition to the existing Section 121 of this title deed
affidavit requirement for deeds recorded on or after November 1,
2023, each covered land conveyance shall include an exhibit
affidavit that:
1. Lists all beneficial owners (name, domicile jurisdiction,
and nature/percentage of ownership/control);
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2. Identifies all funding sources for the purchase price and
capital contributions, which shall include: lender name;
jurisdiction; whether any foreign government entity, adversary, or
state-owned enterprise (SOE) is involved; and
3. Certifies under penalty of perjury that the buyer is not
prohibited and is in compliance with Section 1 of Article XXII of
the Oklahoma Constitution and Section 121 et seq. of this title.
B. County clerks shall record the affidavit as part of the land
record. Failure to include the affidavit shall not itself void
title for an innocent seller, but triggers enforcement under Section
5 of this act.
SECTION 4. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 121.3 of Title 60, unless there
is created a duplication in numbering, reads as follows:
A. If a prohibited party acquires covered land by devise,
descent, debt collection, foreclosure, or enforcement of a security
interest, the party shall divest within two (2) years, unless a
shorter time is ordered by a court for good cause.
B. A person who unknowingly acquires a prohibited beneficial
ownership interest may cure by divesting the prohibited interest
within one hundred eighty (180) days after notice from the Attorney
General, provided there was no willful concealment.
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SECTION 5. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 121.4 of Title 60, unless there
is created a duplication in numbering, reads as follows:
A. The Attorney General may investigate violations, issue civil
investigative demands, and subpoena relevant records and testimony.
B. The Attorney General may bring a civil action for:
1. Injunctive relief;
2. Civil penalties;
3. Court-ordered divestiture; or
4. Appointment of a receiver to sell the prohibited interest.
C. The Attorney General shall file a notice of pendency (lis
pendens) upon commencing an action
SECTION 6. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 121.5 of Title 60, unless there
is created a duplication in numbering, reads as follows:
Penalties for violations of this act are as follows:
1. Civil penalties: Up to the greater of Two Hundred Fifty
Thousand Dollars ($250,000.00) per transaction or Ten Thousand
Dollars ($10,000.00) per acre, or fraction thereof, of covered land
acquired or held in violation of this act;
2. Criminal penalties: Any person who knowingly files a
materially false affidavit required by Sections 121 or 121.2 of
Title 60 of the Oklahoma Statutes is guilty of a felony, punishable
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by imprisonment of up to five (5) years, a fine up to Two Hundred
Fifty Thousand Dollars ($250,000.00) or both; and
3. Contract consequences: Any incentive agreement with the
state or political subdivision shall include a mandatory clause
providing that a violation constitutes a material breach, triggering
clawback and termination.
SECTION 7. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 121.6 of Title 60, unless there
is created a duplication in numbering, reads as follows:
A. Nothing in this act shall be construed to impair:
1. Rights of bona fide residents as recognized in Section 1 of
Article XXII of the Oklahoma Constitution;
2. Transactions protected by federal preemption; or
3. The existing exception in Section 121 of this title for
business entities engaged in regulated interstate commerce or with a
CFIUS national security agreement—provided the enhanced affidavit
and beneficial ownership disclosure is still filed.
B. This act shall be interpreted to maximize effectiveness
while remaining consistent with the Oklahoma Constitution and
Section 121 et seq. of this title.
SECTION 8. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 121.6 of Title 60, unless there
is created a duplication in numbering, reads as follows:
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If any provision is held invalid, the remaining provisions shall
be severable and remain in effect.
SECTION 9. AMENDATORY 60 O.S. 2021, Section 121, as last
amended by Section 1, Chapter 373, O.S.L. 2024 (60 O.S. Supp. 2025,
Section 121), is amended to read as follows:
Section 121. A. As used in Sections 121 through 127 of this
title:
1. "Beneficial owner" means an individual or entity that
directly or indirectly:
a. owns or controls ten percent (10%) or more of any
class of ownership interest in a business entity,
b. exercises substantial control over the entity, or
c. provides twenty-five percent (25%) or more of the
purchase price or capital for the acquisition of land
through any loan, guarantee, equity, or other funding
arrangement, excluding ordinary-course institutional
lending by a United States regulated bank;
2. "Covered land" means any interest in real property in this
state, including fee simple, leasehold interests that exceeds one
(1) year, mineral interests, and any easement or right-of-way
granting exclusive or operational control of a defined area for one
(1) year or more, except utility easements granted to U.S.-domiciled
utilities regulated under state or federal law;
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3. "Critical infrastructure site" means any electric generation
and transmission facilities, substations, water treatment,
telecommunications switching centers, petroleum and gas pipelines or
compressor stations, rail intermodal facilities, and any other site
designated by rule by the Department of Public Safety in
consultation with the Oklahoma Military Department;
4. "Deed" means any instrument in writing whereby land is
assigned, transferred, or otherwise conveyed to, or vested in, the
person coming into title or, at his or her direction, any other
person;
2. 5. "Foreign government adversary" means a government other
than the federal government of the United States, the government of
any state, political subdivision of the state, tribe, territory, or
possession of the United States and designated by the United States
Secretary of State as hostile or a Country of Particular Concern
(CPC);
3. 6. "Foreign government enterprise" means a business entity,
sovereign wealth fund, or state-backed investment fund in which a
foreign government adversary holds a controlling interest;
4. 7. "Foreign government entity" means a government other than
the federal government of the United States, the government of any
state, political subdivision of the state, tribe, territory, or
possession of the United States; and
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5. 8. "Land" means the same as defined in Section 6 of this
title, but shall not include oil, gas, other minerals, or any
interest therein;
9. "Military installation buffer area" means land located
within ten (10) miles of a military installation located in
Oklahoma; and
10. "State-owned enterprise (SOE)" means any business entity in
which a foreign government entity directly or indirectly holds a
controlling interest or otherwise exercises substantial control,
including any foreign government enterprise as already recognized in
this section.
B. No alien or any person who is not a citizen of the United
States or foreign government adversary shall acquire title to or own
land in this state either directly or indirectly through a business
entity, trust, or foreign government enterprise, except as
hereinafter provided, but they shall have and enjoy in this state
such rights as to personal property as are, or shall be, accorded a
citizen of the United States under the laws of the nation to which
such alien belongs, or by the treaties of such nation with the
United States, except as the same may be affected by the provisions
of Section 121 et seq. of this title or the Constitution of this
state. Provided, however, the requirements of this subsection shall
not apply to a business entity that is engaged in regulated
interstate commerce or has a national security agreement with the
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Committee on Foreign Investment in the United States (CFIUS) in
accordance with federal law. Furthermore, certain disclosures, as
required by this act, may need to be made if applicable.
C. On or after November 1, 2023, any deed recorded with a
county clerk shall include as an exhibit to the deed an affidavit
executed by the person, the person's attorney-in-fact, a court-
appointed guardian or personal representative, an authorized officer
of the entity, or trustee of the trust coming into title attesting
that the person, business entity, or trust is obtaining the land in
compliance with the requirements of this section and that no funding
source is being used in the sale or transfer in violation of this
section or any other state or federal law. A county clerk shall not
accept and record any deed without an affidavit as required by this
section which is duly notarized pursuant to Title 49 of the Oklahoma
Statutes. The requirements of this subsection shall not apply to a:
1. Deed which, without additional consideration, confirms,
corrects, modifies, or supplements a deed previously recorded;
2. Deed made by a grantor to cure a defect in title or
effectuate a disclaimer of interest in real property;
3. Transfer-on-death deed made by a grantor designating a
grantee beneficiary pursuant to the Nontestamentary Transfer of
Property Act, Section 1251 et seq. of Title 58 of the Oklahoma
Statutes;
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4. State or federal court order in an action to quiet title or
to cure a defect in title;
5. State or federal court order or decree in probate,
partition, quiet title, and divorce actions;
6. Deed which secures a debt or other obligation, or which
releases such property as security for a debt or other obligation;
7. Deed of dedication to the public; or
8. Deed in favor of the United States or any of its political
subdivisions, a state or any of its political subdivisions, or a
tribe.
The applicable exemption shall be shown on the face of the deed
prior to the recording of the deed and no affidavit shall be
required.
D. The Attorney General shall promulgate a separate affidavit
form for individuals and for business entities or trusts to comply
with the requirements of this section. The Attorney General may
establish additional exemptions which the Attorney General deems
necessary to substantially comply with the requirements of this
section. The county clerk may accept an affidavit in substantial
compliance with the affidavit form promulgated by the Attorney
General.
SECTION 10. This act shall become effective November 1, 2026.
60-2-14529 JL 01/06/26