reglab/housing_qa huggingface dataset:
71 OK Stat § 71-632 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-632. Application for license.

|A. An agent may obtain an initial or renewal license by filing with the Administrator an application together with the Consent to Service of Process required by subsection A of Section 664 of this title and the fee required by Section 652 of this title. The application shall contain whatever information the Administrator by rule requires concerning the applicant, including the applicant's finances, qualifications, experience, proposed method of doing business and disclosure of past activities. |B. Before final action on an application, the Administrator may designate a person to make an examination of the books, records and affairs of an applicant at the applicant's expense.C. The Administrator may by rule prescribe standards of qualification with respect to training, experience and knowledge of the subdivided land sales business and provide for an examination which may be oral or written or both, to be taken by all applicants or any class thereof.D. The Administrator may by rule or otherwise impose such other conditions in connection with the issuance of licenses under this Code as he deems appropriate in the public interest and for the protection of purchasers.E. If no denial order is in effect and no proceeding is pending under Section 634 of this title, the license becomes effective thirty (30) days after a completed application is filed. The Administrator may by rule or order specify an earlier effective date. An application is deemed filed when all required information and amendments have been filed. The Administrator may cooperate with regulatory authorities in other states to simplify and coordinate license applications and renewal procedures.Added by Laws 1977, c. 95, § 632. Amended by Laws 1989, c. 150, § 9, operative July 1, 1989.
71 OK Stat § 71-633 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-633. Records - Copies - Inspection - Reports - Examination - Rules and regulations.

|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 Administrator by rule prescribes otherwise. The Administrator may require that copies of any such records be provided by the agent to the subdivider for retention and inspection by the Administrator under such rules as he may prescribe. All required records shall be made available to the Administrator upon request for his inspection at his office or such other place as he may require. The Administrator may accept copies of records at his discretion. |B. Every agent shall file such reports as the Administrator by rule prescribes.C. If the information contained in any application for a license or other document filed with the Administrator is or becomes inaccurate or incomplete in any material respect, the licensee shall file a corrective amendment within ten (10) days.D. The Administrator may make periodic examinations, within or without this state, of the business and records of each licensed agent at such times and in such scope as he determines. The examinations may be made without prior notice. The Administrator shall charge all expenses incurred in such examination to the licensed agent whose business is being examined in the amount as provided in Section 652 of this title. For the purpose of avoiding unnecessary duplication of examinations, the Administrator, insofar as he deems practicable, may cooperate with other regulatory agencies. The Administrator may not be compelled to make public the information obtained in the course of the examinations except when his duty under this Code requires him to take action regarding an agent or to make information available to other regulatory agencies, or when the Administrator is called as a witness in any criminal proceeding.E. The Administrator may prescribe rules for the conduct of business by agents as he finds appropriate in the public interest for the protection of purchasers.Added by Laws 1977, c. 95, § 633. Amended by Laws 1989, c. 150, § 10, operative July 1, 1989.
71 OK Stat § 71-641 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-641. Fraud - Penalty.

|It is unlawful 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 untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading; or3. Engage in any act, practice or course of business which operates or would operate as a fraud or deceit upon any person.Added by Laws 1977, c. 95, § 641.
71 OK Stat § 71-642 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-642. Liens and encumbrances.

|No agent 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 for the protection of purchasers. |Added by Laws 1977, c. 95, § 642.
71 OK Stat § 71-643 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-643. Contracts - Voiding - Rescinding - Revoking.

|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 subsection A of Section 626 of this Code; and2. A purchaser has an unconditional right to rescind any contract, agreement or other evidence of indebtedness, or to revoke any offer, until five (5) days after the date the purchaser actually receives a legible copy of the signed contract, agreement or other evidence of indebtedness or offer and the public offering statement. Until five (5) days after a purchaser actually receives all documents, a right to rescind may be exercised. Predating of a document does not defeat the time in which the right to rescind may be exercised.Added by Laws 1977, c. 95, § 643.
71 OK Stat § 71-644 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-644. Notice to purchaser - Signatures - Rescission of contract.

|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 be at least four (4) type points larger than the body of the document stating:NOTICE TO PURCHASERYOU ARE ENTITLED TO CANCEL THIS AGREEMENT AT ANY TIME IF YOU HAVE NOT RECEIVED THE PUBLIC OFFERING STATEMENT IN ADVANCE OF YOUR SIGNING THIS AGREEMENT. IN ADDITION, YOU ARE ENTITLED TO CANCEL THIS AGREEMENT FOR ANY REASON WITHIN FIVE (5) DAYS FROM THE DAY YOU ACTUALLY RECEIVE A LEGIBLE COPY OF THIS DOCUMENT. DO NOT SIGN A RECEIPT FOR THIS DOCUMENT UNLESS YOU HAVE ACTUALLY RECEIVED A LEGIBLE COPY OF IT.The contract, agreement or evidence of indebtedness shall contain sufficient space upon its face in immediate conjunction with the above notice for the signature of each person obligated under such instrument. The signature shall acknowledge that such person has read the notice and received a legible copy of the document.2. Exercise of the purchaser's right to rescission occurs when the purchaser gives written notice to the subdivider or agent at the address stated in the contract, agreement, or evidence of indebtedness. Notice of rescission if given by mail is effective when it is deposited in a mailbox properly addressed and postage prepaid. A notice of rescission given by a purchaser need not take a particular form and is sufficient if it indicates by any form or written expression the intention of the purchaser not to be bound by the contract, agreement or evidence of indebtedness.3. No act of the purchaser shall be effective to waive the right to rescind as provided in this Code.Added by Laws 1977, c. 95, § 644.
71 OK Stat § 71-651 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-651. Administration of Code - Personal use of information - 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 Administrator and which is not generally available to the public. No provision of this Code, except subsection D of Section 633 of this Code, either creates or derogates from any privilege which exists at common law or otherwise when documentary or other evidence is sought under a subpoena directed to the Administrator or any of his officers or employees.Added by Laws 1977, c. 95, § 651.
71 OK Stat § 71-652 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-652. Fees - Disposition.

|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 fees shall be nonrefundable. |1. Agent License registration fee or renewal fee$30.002. Agent License examination fee$30.003. Filing fee for advertising or promotional materials $10.004. Exemption notification filing fee$250.005. Interpretive opinion or no-action request$250.006. Affidavit request$10.007. Service of process upon the Administrator$10.008. Copying fee: a.8 1/2" by 14" or smaller$.25per pageb.Larger than 8 1/2" by 14"$1.00per pagec.Certified copy 8 1/2" by 14" or smaller$1.00per paged.Certified copy larger than 8 1/2" by 14"$2.00per page9. Document search fee for commercial purpose$20.00per hour10. Initial application for registration of subdivided land pursuant to Section 625 of this title:a.Examination fee$250.00b.Registration fee$1.00per lot11. Renewal application for registration of subdivided land pursuant to Section 627 of this title:a.Examination fee$250.00b.Registration fee$1.00 perlot not previously registered pursuant to the Initial Application or prior Renewal Application filed pursuant to this Code.12. Charges for an on-site examination of a subdivision conducted pursuant to Section 627 of this title or of a licensed agent pursuant to Section 633 of this title, shall be billed to the person being examined at a rate of $25.00 per hour per employee for the time spent by each Department employee in traveling to and from the examination site, conducting the examination, and preparing the examination report. In addition, the Department shall be reimbursed for all actual expenses incurred in conducting such examinations, including travel expenses, per diem, lodging, and other related expenses of Department employees conducting the examination, the cost of supplies, materials, photocopying, long distance telephone calls and postage; and costs of technical, expert or special services required in connection with such examination.B. All fees and other charges collected by the Administrator pursuant to this section shall be deposited in the General Revenue Fund except for the following fees and charges which shall be deposited in the Oklahoma Securities Commission Revolving Fund established pursuant to Section 412 of this title:1. The fees collected pursuant to paragraphs 5, 6, 7, 8 and 9 of subsection A of this section;2. The fees collected pursuant to the provisions of Sections 627 and 633 of this title as provided in paragraph 12 of subsection A of this section;3. The examination fees collected pursuant to subparagraph a of paragraph 10 and subparagraph a of paragraph 11 of subsection A of this section.Added by Laws 1977, c. 95, § 652. Amended by Laws 1989, c. 150, § 11, operative July 1, 1989.
71 OK Stat § 71-653 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-653. Advertising.

|A. It is unlawful 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 representation of a material fact which under the circumstances makes the statement, omission or pictorial representation misleading; or2. Any statement which differs materially from the information contained in a registration application or public offering statement.B. All advertising except advertising relating to subdivided land or transactions exempt pursuant to Sections 622 and 623 shall be filed with the Administrator not later than ten (10) days prior to its use and shall not be used until a copy thereof has been approved for use by the Administrator, except advertising which the Administrator exempts by rule or order. Any advertising filed with the Administrator pursuant to this section shall be accompanied by the filing fee specified in Section 652 of this title.Added by Laws 1977, c. 95, § 653. Amended by Laws 1989, c. 150, § 12, operative July 1, 1989.
71 OK Stat § 71-654 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-654. Fraud - Filing of documents and information.

|It is unlawful 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 omit to state a material fact necessary in order to make the statements made, in light of the circumstances under which they are made, not misleading. |Added by Laws 1977, c. 95, § 654.
71 OK Stat § 71-655 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-655. Presumptions - Fraud - Violations.

|Neither the fact that a registration statement or an application for a license has been filed nor the fact that any subdivided lands are registered or that any person is licensed 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 exemption or exclusion is available for an agent, subdivided land, or a transaction means that the Administrator has passed in any way upon the merits or qualifications of, or recommended or given approval to, any person, subdivided land or transaction. It is unlawful to make, or cause to be made, to any prospective purchaser, any representation inconsistent with the foregoing. |Added by Laws 1977, c. 95, § 655.
71 OK Stat § 71-656 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-656. Power and duties of Administrator.

|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 Code or in the prescribing of rules and forms hereunder;2. Require or permit any person to file a statement in writing, under oath or otherwise as the Administrator determines, as to all of the facts and circumstances concerning the matter being investigated;3. Publish information concerning any violation of this Code or any rule or order issued hereunder or concerning subdivided lands, or practices in the disposition thereof, which appear or tend to be unfair, inequitable or fraudulent; and4. Hold hearings upon reasonable notice in respect of any matter arising out of the administration of this Code.B. For the purpose of any investigation, hearing or proceeding under this Code, the Administrator or any officer designated by him may administer oaths and affirmations, subpoena witnesses, compel their attendance, take evidence and require the production of any books, papers, correspondence, memoranda, agreements or other documents or records which the Administrator deems relevant or material to the inquiry.C. In case of contumacy by or refusal to obey a subpoena issued to any person, the district court of Oklahoma County or the district court in any other county where service can be obtained on one or more of the defendants, upon application by the Administrator, may issue to the person an order requiring him to appear before the Administrator, or the officer designated by him, there to produce documentary evidence if so ordered or to give evidence touching the matter under investigation or in question. Failure to obey the order of the court may be punished by the court as a contempt of court.D. No person is excused from attending and testifying or from producing any document or record before the Administrator, or in obedience to the subpoena of the Administrator or any officer designated by him, or in any proceeding instituted by the Administrator, on the ground that the testimony or evidence required of him may tend to incriminate him or subject him to a penalty or forfeiture; but no individual may be prosecuted or subjected to any penalty or forfeiture for or on account of any transaction, matter or thing concerning which he is compelled, after claiming his privilege against self-incrimination, to testify or produce evidence, except that the individual testifying is not exempt from prosecution and punishment for perjury or contempt committed in testifying.Added by Laws 1977, c. 95, § 656.
71 OK Stat § 71-657 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-657. Injunctions - Intervention in suits involving subdivided 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 County or the district court in any other county where service can be obtained on one or more of the defendants to enjoin the acts or practices and to enforce compliance with this Code or any rule or order hereunder, or he may refer the matter to the Attorney General or the district attorney of the appropriate district. Upon a proper showing, the court may grant a permanent or temporary injunction or restraining order, or may appoint a receiver for the defendant or the defendant's assets or may order rescission of any sales or purchases of subdivided lands determined to be unlawful under this Code or any rule or order hereunder. The court may not require the Administrator to post a bond. |B. The Administrator may intervene in a suit involving subdivided land required to be registered under this Code. In any suit by or against a subdivider or agent involving subdivided lands required to be registered under this Code, the subdivider or agent shall promptly furnish the Administrator with notice of the suit and copies of all pleadings.Added by Laws 1977, c. 95, § 657.
71 OK Stat § 71-658 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-658. Violation of Code - Fine.

|A. Any person who willfully violates any provision of this Code except Section 654 of this title, 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 any material respect, shall be guilty of a felony and may be fined not more than Twenty-five Thousand Dollars ($25,000.00) or imprisoned not more than three (3) years, or both. |B. The Administrator may refer such evidence as is available concerning violations of this Code or any rule or order hereunder to the Attorney General or the district attorney of the appropriate district, who may, with or without any reference, institute the appropriate criminal proceedings. The Attorney General or district attorney may designate and appoint one or more lawyers of the Department of Securities as special assistants as available for the purpose of assisting in or conducting all criminal prosecutions arising by reason of proceedings under this section.C. Nothing in this Code limits the power of the state to punish any person for any conduct which constitutes a crime under any other statute.Added by Laws 1977, c. 95, § 658. Amended by Laws 1988, c. 108, § 26, eff. Nov. 1, 1988; Laws 1997, c. 133, § 581, eff. July 1, 1999; Laws 1999, 1st Ex.Sess., c. 5, § 421, eff. July 1, 1999.NOTE: Laws 1998, 1st Ex.Sess., c. 2, § 23 amended the effective date of Laws 1997, c. 133, § 581 from July 1, 1998, to July 1, 1999.
71 OK Stat § 71-660 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-660. Summary prohibition of offers or dispositions.

|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, he may by order summarily prohibit further offers or dispositions in this state of such land until it is registered under this Code. If the Administrator has reason to believe that any subdivided land is being offered or disposed of in this state by any unlicensed person in violation of this Code or any rule or order hereunder, he may by order summarily prohibit such person from further offers or dispositions in this state of such subdivided lands until he is licensed under this Code. |Added by Laws 1977, c. 95, § 660.
71 OK Stat § 71-661 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-661. Review of orders.

|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 stating his ground therefor. The application and petition shall within sixty (60) days be heard de novo by the Commission en banc. The applicant may offer evidence and it shall be the duty of the Administrator to offer such evidence as is relied upon in the entry of his order and such further evidence as he may deem relevant. Upon the written request of the party on whose behalf the appeal is brought, or upon his own motion, the Administrator shall cause complete stenographic notes to be taken. If requested by the appealing party, the cost of taking and transcribing such notes shall be borne by the said appealing party. If such notes are taken upon the motion of the Administrator, the cost shall be borne by the Commission. The Commission or a majority thereof shall make such order as is deemed proper, just and equitable. |B. Any person aggrieved by a final order of the Commission may obtain a review of the order by the district court of Oklahoma County.C. The commencement of proceedings under this section before the Commission shall not operate as a stay of the Administrator's order, unless so ordered by the Commission. The commencement of proceedings under this section before the district court shall not operate as a stay of the Commission's order, unless so ordered by the court.Added by Laws 1977, c. 95, § 661.