This bill establishes new regulations regarding the acquisition of single-family residential real property in Oklahoma, specifically targeting hedge funds and their subsidiaries. It defines "hedge fund" as a business entity that primarily invests capital in equity securities for high returns, while explicitly excluding certain entities such as pension funds, insurance companies, and federally regulated financial institutions. The bill prohibits hedge funds and their subsidiaries from acquiring title to single-family residential properties within the state.

Additionally, the bill mandates that any hedge fund or subsidiary that currently holds title to such properties must divest their ownership within ten years of the act's effective date, which is set for November 1, 2025. Importantly, the legislation stipulates that any transfers of property during this divestiture period cannot be made to hedge funds or their subsidiaries.