Title 71, Title 71 — Securities

Sharing of data - Confidentiality. A. A supervisory agency shall make available to a requesting agency any data obtained or generated by, and in the possession of, the supervisory agency and that the requesting agency deems necessary for review in connection with the supervision …

A. The predecessor act exclusively governs all actions or proceedings that are pending on the effective date of this act or may be instituted on the basis of conduct occurring before the effective date of this act, but a civil action may not be maintained to enforce any liability…

As used in this act: 1. "Multinational take-over bid" means the acquisition by a multinational corporation of or offer by a multinational corporation to acquire, pursuant to a tender offer or request or invitation for tenders, any equity security of a multinational corporation or…

information - Hearings - Information to be filed - Costs. A. No offeror shall make a multinational corporation take-over bid unless twenty (20) days prior thereto or such shorter period as the Administrator may order, but not less than five (5) days, such offeror announces public…

No offeror may conclude a multinational corporation take-over bid or pay for any securities prior to the conclusion of the procedures set forth in this act. Added by Laws 1980, c. 300, § 3, emerg. eff. June 12, 1980.

No offeror shall make a multinational corporation take-over bid which is not made to all holders residing in this state of the equity security that is the subject of such multinational corporation take-over bid, or which is not made to such holders on the same terms as such multi…

bodies. If the offeror or the target company is a banking corporation subject to regulation by the Banking Department, a building and loan association subject to regulation by the Building and Loan Board, or a public utility corporation subject to regulation by the Corporation Co…

An offeror is subject to the liabilities, penalties and other provisions applicable to a seller and an offeree is entitled to the remedies applicable to a purchaser, as set forth in Sections 402 et seq. of this title. Added by Laws 1980, c. 300, § 6, emerg. eff. June 12, 1980.

The Administrator may prescribe reasonable rules and regulations: 1. Defining fraudulent, evasive, deceptive or grossly unfair practices in connection with multinational corporation take-over bids, and the terms used in this act; 2. Exempting from this act multinational corporati…

This act shall not apply when: 1. The offeror or the target company is a public utility or a public utility holding company as defined in Section 2 of the "Public Utility Holding Company Act of 1935," 49 Stat. 803, 15 U.S.C. 79, as amended, and the multinational corporation take-…

Sections 1 through 12 of this act shall be known and may be cited as the "Oklahoma Take-over Disclosure Act of 1985". Added by Laws 1985, c. 285, § 1, emerg. eff. July 22, 1985.

As used in this act: 1. "Administrator" means the Administrator of the Department of Securities; 2. "Affiliate" of a person means any person controlling, controlled by or under common control with such person; 3. "Associate" of a person means any person acting jointly or in conce…

statement - Suspension of take-over offer and hearing. A. It is unlawful and shall be deemed a Class D1 felony offense for any person to make a take-over offer or to acquire any equity securities pursuant to the offer, unless the offer is effective under the provisions of this ac…

Copies of all advertisements, circulars, letters or other materials published by the offeror or the target company, soliciting or requesting the acceptance or rejection of the take-over offer, shall be filed with the Administrator of the Department of Securities and sent to the t…

It is unlawful and shall be deemed a Class D1 felony offense for any offeror or target company or any controlling person of an offeror or target company or any broker-dealer acting on behalf of an offeror or target company to engage in any fraudulent, deceptive or manipulative ac…

A. No offeror may make a take-over offer which is not made to shareholders in this state on substantially the same terms as the offer is made to shareholders outside of this state. B. An offeror shall provide that any equity securities of a target company deposited or tendered pu…

from act. A. In administering the provisions of this act, the Administrator of the Department of Securities may exercise all powers granted to him under the Oklahoma Securities Act, which are not inconsistent with this act. B. The Administrator may make and adopt such rules and f…

The Administrator of the Department of Securities shall charge a filing fee of Five Hundred Dollars ($500.00) for a registration statement filed by an offeror. Added by Laws 1985, c. 285, § 8, emerg. eff. July 22, 1985.

A. Whenever it appears to the Administrator of the Department of Securities that any person, including a controlling person of an offeror or target company, has engaged or is about to engage in any act or practice constituting a violation of this act or any rule or order hereunde…

A. Any person who violates, and a controlling person of an offeror or target company who knowingly violates, any provision of this act or any rule thereunder, or any order of the Administrator of which this person has notice, shall be guilty of a Class D1 felony offense and may b…

A. Any offeror who purchases a security in connection with a take-over offer in violation of this act shall be liable to the person selling the security to him who may sue either at law or in equity. In an action for rescission the seller shall be entitled to recover the security…

All of the provisions of the Oklahoma Securities Act which are not in conflict with the provisions of this act shall apply to any take-over offer involving a target company in this state. Added by Laws 1985, c. 285, § 12, emerg. eff. July 22, 1985.

This Code shall be known and may be cited as the "Oklahoma Subdivided Land Sales Code." Added by Laws 1977, c. 95, § 601.

In this Code, unless the context otherwise requires; 1. "Administrator" means the Administrator of the Department of Securities; 2. "Advertising" means: a. material published or designed for use in social media or a newspaper, magazine, or other periodical, or for radio, televisi…

A. It is unlawful and deemed a Class D3 felony offense for any person to offer or dispose of any interest in subdivided land located in this state or to offer or dispose in this state of any subdivided land located without this state unless it is registered under this Code or the…

The following lands, lots, interests and evidences of indebtedness are exempt from Section 621 of this Code: 1. Subdivided land offered or disposed of by the United States, any state, political subdivision of the state or any agency or corporate or other instrumentality of one or…

The following transactions are exempt from Section 621 of this Code: 1. Offer or disposition of subdivided lands located within the State of Oklahoma; 2. Offer or disposition by a purchaser of subdivided lands for his own account in a single or isolated transaction; 3. Offer or d…

In any proceeding under this Code, the burden of proving an exemption or an exclusion from a definition is upon the person claiming it. Added by Laws 1977, c. 95, § 624.

Application for registration of subdivided land shall be filed with the Administrator in such form as the Administrator may require. The application shall contain the following information and shall be accompanied by the following documents and exhibits, in addition to the inform…

A. It shall be unlawful and deemed a Class D3 felony offense for a person to dispose of an interest in subdivided lands, pursuant to a registration under this Code, unless a current public offering statement is delivered to the purchaser at the expense of the subdivider or the su…

documents and information. A. Within ninety (90) days from the date of filing a completed application for registration, the Administrator shall issue an order registering the subdivided lands or denying the application for registration. If an order of denial is not issued within …

effectiveness of registration. A. The Administrator may issue a stop order denying effectiveness to, or suspending or revoking the effectiveness of, any registration if he or she finds that the order is in the public interest and that: 1. The registration statement as of its effe…

It is unlawful and shall be deemed a Class D3 felony offense for any person to transact business in this state as an agent unless the person has obtained a real estate broker's or real estate sales associate's license from this state, provided that the provisions of this section …

A. Agents shall make and keep all accounts, correspondence, memoranda, papers, books and other records as the Administrator by rule requires and shall keep them for at least six (6) years, and for the first three (3) years in a readily accessible location, unless the Administrato…

It is unlawful and deemed a Class D3 felony offense for any subdivider, agent, or affiliate of either, in connection with the offer or disposition in this state of any subdivided land, directly or indirectly, to: 1. Employ any device, scheme or artifice to defraud; 2. Make any un…

No person may offer or dispose of lots within a subdivision required to be registered under this Code which is subject to a blanket encumbrance, option or contract for deed unless such offer or disposition is in compliance with such rules as may be prescribed by the Administrator…

In connection with dispositions of subdivided lands required to be registered under this Code: 1. Any contract or agreement for the disposition is voidable at the discretion of the purchasers if the public offering statement has not been given to the purchasers as required by sub…

In connection with the offer or disposition of subdivided land required to be registered under this Code: 1. Each contract, agreement or evidence of indebtedness shall prominently contain upon its face the following notice printed in at least sixteen-point bold type which shall b…

Privileges and immunities. A. This Code shall be administered by the Administrator of the Department of Securities. B. It is unlawful for the Administrator or any of his officers or employees to use for personal benefit any information which is filed with or obtained by the Admin…

A. Unless otherwise provided by law, the following are the fees that shall be charged by the Administrator pursuant to the Oklahoma Subdivided Land Sales Code. No additional fees shall be assessed or charged pursuant to rule or regulation of the Administrator. Once paid, such fee…

A. It is unlawful and deemed a Class D3 felony offense for any person, in connection with the offer or disposition of subdivided land, to publish, circulate or use any advertising concerning the subdivided land which contains: 1. Any untrue statement, omission or pictorial repres…

It is unlawful and shall be deemed a Class D3 felony offense for any person to make or cause to be made, in any document filed under this Code or in any proceeding under this Code, any false or misleading statement in any material respect or, in connection with such statement, to…

Neither the fact that a registration statement has been filed nor the fact that any subdivided lands are registered constitutes a finding by the Administrator that any document filed under this Code is true, complete, and not misleading. Neither any such fact nor the fact that an…

A. The Administrator may: 1. Make such public or private investigations within or without this state as he deems necessary to determine whether any person has violated or is about to violate this Code or any rule or order issued hereunder, or to aid in the enforcement of this Cod…

land. A. Whenever it appears to the Administrator that any person has engaged or is about to engage in any act or practice constituting a violation of this Code or any rule or order hereunder, he may bring an action in the name of the state in the district court of Oklahoma Count…

A. Any person who willfully violates any provision of this Code, or any rule under this Code, or any order of which the person has notice, or who violates Section 654 of this title, knowing or having reasonable cause to believe that the statement made was false or misleading in a…

actions. Any person who: 1. Offers or disposes of subdivided land in violation of Sections 621, 631 or 653 of this Code, or any rule relating thereto, or any condition imposed under Sections 625 through 627 of this Code, or any order under this Code of which he has notice; or 2. …

If the Administrator has reason to believe that any offer or disposition of subdivided land required to be registered under this Code is or would be fraudulent to purchasers, the Administrator may by order summarily prohibit further offers or dispositions in this state of such la…

A. Any person aggrieved by final order of the Administrator may obtain a review by the Commission by filing with the Administrator within fifteen (15) days after the entry of the order, a written petition praying that the order be modified or set aside in whole or in part and sta…

Exemption from liability. A. The Administrator may make, amend, and rescind any rules, forms and orders that are necessary to carry out this Code including rules and forms governing applications for registration, reports and defining any terms, whether or not used in this Code, i…