I posted this in the Oklahoma Forum but thought I would try here, also. This question was asked in that forum on 06/25/2010: Does Oklahoma state law require us to send a copy of a paid note to the customer?
A response was never given. In lieu of the original note papers (stamped "paid" with the date of payoff), our bank would like to begin sending a one page notification that the note has been paid -- less private information being mailed, more cost effective, etc. Of course, if a lien release is involved it would be included. Also, let the customer know we will retain the original for a certain time in the event it is wanted. Four years later, can any Okie banker or someone familiar with Oklahoma rules and regulations assist?