In performing the duties imposed pursuant to the Oklahoma Abstractors Law, the State Auditor and Inspector shall have the following powers and duties:

1. 1. To prescribe, promulgate, implement and enforce rules and make such orders as deemed necessary to implement all the provisions of the Oklahoma Abstractors Law including the duties imposed in this section;
2. 2. To hold examinations for applicants for abstract licenses;
3. 3. To issue abstract licenses, certificates of authority, and permits in such form as deemed appropriate;
4. 4. To issue abstract licenses and certificates of authority to nonresidents, associations, corporations, and partnerships;
5. 5. To suspend, revoke, or reinstate abstract licenses and certificates of authority previously issued, upon good cause shown;
6. 6. To reprimand, place on probation, or require additional education of licensees and certificate holders upon good cause shown;
7. 7. To establish administrative penalties and fines as provided for in Section 227.22 of this title for failure to furnish an abstract, abstract extension, supplemental abstract or final title report;
8. 8. To prescribe and impose such administrative penalties and fines as deemed proper to be assessed against licensees and certificate holders for the failure to pay the renewal fees or for the violation or noncompliance with any provision of the Oklahoma Abstractors Law or rule or order of the State Auditor and Inspector;
9. 9. To cause the prosecution of any person who violates any of the provisions of the Oklahoma Abstractors Law;
10. 10. To promulgate such rules and regulations governing the approval of organizations offering courses of study in real estate as are necessary for the administration of the Oklahoma Abstractors Law;
11. 11. To establish minimum standards to be followed in the preparation of abstracts;
12. 12. To establish a schedule of fees for applications for or renewals of certificates of authority, abstract licenses, or permits;
13. 13. To establish the amount of the bond to be filed with applications for abstract licenses, certificates of authority, or permits;
14. 14. To approve fee schedules of holders of certificates of authority, set criteria for determining what constitutes an excessive fee, and impose administrative penalties and fines for violations of approved fee schedules; and
15. 15. To deposit all fees and fines collected to the credit of the State Auditor and Inspector Revolving Fund.

Added by Laws 1984, HB 1805, c. 163, § 4, eff. November 1, 1984; Amended by Laws 1985, SB 30, c. 304, § 11, emerg. eff. July 24, 1985; Amended by Laws 2006, HB 3009, c. 269, § 3, eff. July 1, 2007 (superseded document available).