§ 775 Execution on judgment in favor of state-Purchase by state-Resale-Disposition of funds received
§ 775. Execution on judgment in favor of state--Purchase by state--Resale--Disposition of funds received
In all civil actions wherein the State of Oklahoma, as plaintiff, has heretofore or may hereafter recover judgment, and where, in any such action an execution has or may be issued, the State of Oklahoma, through the officer or officers on whose relation the action was brought, may bid at such execution sale, and buy said property offered for sale, for any amount not to exceed the amount of the judgment in such action, said amount to be credited upon the judgment.
And further, when such property offered for sale at execution is bought by the State of Oklahoma, said property may be sold for the state by the officer or officers upon whose relation the state was party plaintiff, and further provided that at such execution sales the attorney or attorneys representing the State of Oklahoma may bid for the state, not to exceed the amount of the judgment, provided, however, that said bid is not more than One Hundred Dollars ($100.00) higher than the next best bid, and if there be no other bidder, then not to exceed One Hundred Dollars ($100.00).
And further provided that in disposing of such property so acquired, if it be personal property the officer or successor of the officer upon whose relation the State of Oklahoma was plaintiff may sell said property by executing a good and sufficient bill of sale, to be attested by the Secretary of State. And in disposing of real property so acquired or any interest or equity therein, the officer or successor in office on whose relation the state was party plaintiff may execute in the name of the State of Oklahoma by said officer a good and sufficient deed, to be attested by the Secretary of the State of Oklahoma. Provided, however, that in no event shall any sale be valid under this act [FN1] for any amount less than the amount for which said property was originally bid in by the state. The funds obtained upon the sale of any such property shall be placed in the fund for which the judgment was obtained.
[FN1] This section.