reglab/housing_qa huggingface dataset:
71 OK Stat § 71-1-503 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-1-503. Evidentiary burden.

|A. In a civil action or administrative proceeding under this act, a person claiming an exemption, exception, preemption, or exclusion has the burden to prove the applicability of the exemption, exception, preemption, or exclusion. |B. In a criminal proceeding under this act, a person claiming an exemption, exception, preemption, or exclusion has the burden of going forward with evidence of the claim.Added by Laws 2003, c. 347, § 31, eff. July 1, 2004.
71 OK Stat § 71-1-504 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-1-504. Filing of sales and advertising literature.

|A. Except as otherwise provided in subsection B of this section, it is unlawful for a person to distribute a prospectus, pamphlet, circular, form letter, advertisement, sales literature, or other advertising communication relating to a security or investment advice, addressed or intended for distribution to prospective investors, including clients or prospective clients of a person registered or required to be registered as an investment adviser under this act, unless the sales and advertising literature is first filed with the Department with the fee specified in Section 50 of this act and the Department has responded indicating that the Administrator has no objection to its distribution or use. |B. This section does not apply to sales and advertising literature specified in subsection A of this section relating to a federal covered security, a federal covered investment adviser, or a security or transaction exempted by Section 6, 7, or 8 of this act except as may be required pursuant to paragraph 7 of Section 6 of this act.Added by Laws 2003, c. 347, § 32, eff. July 1, 2004.
71 OK Stat § 71-1-505 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-1-505. Misleading filings.

|It is unlawful for a person to make or cause to be made, in a record that is used in an action or proceeding or filed under this act, a statement that, at the time and in the light of the circumstances under which it is made, is false or misleading in a material respect, or, in connection with the statement, to omit to state a material fact necessary in order to make the statement made, in the light of the circumstances under which it was made, not false or misleading. |Added by Laws 2003, c. 347, § 33, eff. July 1, 2004.
71 OK Stat § 71-1-506 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-1-506. Misrepresentations concerning registration or exemption.

|The filing of an application for registration, a registration statement, or a notice filing under this act, or the registration of a person or security under this act, does not constitute a finding by the Administrator that a record filed under this act is true, complete, and not misleading. The filing or registration or the availability of an exemption, exception, preemption, or exclusion for a security or a transaction does not mean that the Administrator has passed upon the merits or qualifications of, or recommended or given approval to, a person, security, or transaction. It is unlawful to make, or cause to be made, to a purchaser, customer, client, or prospective customer or client, a representation inconsistent with this section. |Added by Laws 2003, c. 347, § 34, eff. July 1, 2004.
71 OK Stat § 71-1-507 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-1-507. Qualified immunity.

|A broker-dealer, agent, investment adviser, federal covered investment adviser, or investment adviser representative is not liable to another broker-dealer, agent, investment adviser, federal covered investment adviser, or investment adviser representative for defamation relating to an alleged untrue statement that is contained in a record required by the Administrator, or designee of the Administrator, the Securities and Exchange Commission, or a self-regulatory organization, unless it is proven that the person knew, or should have known at the time that the statement was made, that it was false in a material respect or the person acted in reckless disregard of the statement’s truth or falsity. |Added by Laws 2003, c. 347, § 35, eff. July 1, 2004.
71 OK Stat § 71-1-508 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-1-508. Violations - Criminal penalties - Administrative fines.

|A. A person who willfully violates this act, or a rule adopted or order issued under this act, except Section 32 of this act or the notice filing requirements of Section 11 or 22 of this act, or that willfully violates Section 33 of this act knowing the statement made to be false or misleading in a material respect, upon conviction, shall be fined not more than One Hundred Thousand Dollars ($100,000.00) or imprisoned not more than ten (10) years, or both such fine and imprisonment. An individual convicted of violating a rule adopted or order issued under this act may be fined, but may not be imprisoned, if the individual did not have knowledge of the rule or order. |B. This act does not limit the power of this state to punish a person for conduct that constitutes a crime under other laws of this state.C. On a criminal matter referred by the Administrator, the prosecuting attorney may designate and appoint one or more lawyers of the Department as special assistants as available for the purpose of assisting in or conducting a criminal prosecution arising by reason of an investigation or proceeding under this section.Added by Laws 2003, c. 347, § 36, eff. July 1, 2004.
71 OK Stat § 71-1-603 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-1-603. Civil enforcement.

|A. If the Administrator believes that a person has engaged, is engaging, or is about to engage in an act, practice, or course of business constituting a violation of this act or a rule adopted or order issued under this act or constituting a dishonest or unethical practice or that a person has, is, or is about to engage in an act, practice, or course of business that materially aids a violation of this act or a rule adopted or order issued under this act or a dishonest or unethical practice, the Administrator may, prior to, concurrently with, or subsequent to an administrative proceeding, maintain an action in the district court of Oklahoma County or the district court of any other county where service can be obtained to enjoin the act, practice, or course of business and to enforce compliance with this act or a rule adopted or order issued under this act. |B. In an action under this section and on a proper showing, the court may:1. Issue a permanent or temporary injunction, restraining order, or declaratory judgment;2. Order other appropriate or ancillary relief, which may include:a.an asset freeze, accounting, writ of attachment, writ of general or specific execution, and appointment of a receiver or conservator, that may be the Administrator, for the defendant or the defendant's assets,b.ordering the Administrator to take charge and control of a defendant's property, including investment accounts and accounts in a depository institution, rents, and profits; to collect debts; and to acquire and dispose of property,c.imposing a civil penalty up to a maximum of Five Thousand Dollars ($5,000.00) for a single violation or up to Two Hundred Fifty Thousand Dollars ($250,000.00) for more than one violation; an order of rescission, restitution, or disgorgement directed to a person that has engaged in an act, practice, or course of business constituting a violation of this act or the predecessor act or a rule adopted or order issued under this act or the predecessor act, andd.ordering the payment of prejudgment and postjudgment interest; or3. Order such other relief as the court considers appropriate.C. The Administrator may not be required to post a bond in an action or proceeding under this act.Added by Laws 2003, c. 347, § 41, eff. July 1, 2004.
71 OK Stat § 71-1-605 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-1-605. Rules, forms, orders, interpretative opinions, and hearings.

|A. The Administrator may: |1. Issue forms and orders and, after notice and comment, may adopt and amend rules necessary or appropriate to carry out this act and may repeal rules, including rules and forms governing registration statements, applications, notice filings, reports, and other records;2. By rule, define terms, whether or not used in this act, but those definitions may not be inconsistent with this act; and3. By rule, classify securities, persons, and transactions and adopt different requirements for different classes.B. Under this act, a rule or form may not be adopted or amended, or an order issued or amended, unless the Administrator finds that the rule, form, order, or amendment is necessary or appropriate in the public interest or for the protection of investors and is consistent with the purposes intended by this act. In adopting, amending, and repealing rules and forms, Section 46 of this act applies in order to achieve uniformity among the states and coordination with federal laws in the form and content of registration statements, applications, reports, and other records, including the adoption of uniform rules, forms, and procedures.C. Subject to Section 15(h) of the Securities Exchange Act and Section 222 of the Investment Advisers Act of 1940, the Administrator may require that a financial statement filed under this act be prepared in accordance with generally accepted accounting principles in the United States and comply with other requirements specified by rule adopted or order issued under this act. A rule adopted or order issued under this act may establish:1. Subject to Section 15(h) of the Securities Exchange Act and Section 222 of the Investment Advisors Act of 1940, the form and content of financial statements required under this act;2. Whether unconsolidated financial statements must be filed; and3. Whether required financial statements must be audited by an independent certified public accountant.D. The Administrator may provide interpretative opinions or issue determinations that the Administrator will not institute a proceeding or an action under this act against a specified person for engaging in a specified act, practice, or course of business if the determination is consistent with this act. The charge for interpretative opinions or determinations that the Administrator will not institute an action or a proceeding under this act shall be specified in Section 50 of this act.E. A penalty under this act may not be imposed for, and liability does not arise from, conduct that is engaged in or omitted in good faith believing it conforms to a rule, form, or order of the Administrator under this act.F. A hearing in an administrative proceeding under this act shall be conducted in public.Added by Laws 2003, c. 347, § 43, eff. July 1, 2004.
71 OK Stat § 71-1-606 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-1-606. Administrative files and opinions.

|A. The Administrator shall maintain, or designate a person to maintain, a register of applications for registration of securities; registration statements; notice filings; applications for registration of broker-dealers, agents, investment advisers, and investment adviser representatives; notice filings by federal covered investment advisers that are or have been effective under this act or the predecessor act; notices of claims of exemption from registration or notice filing requirements contained in a record; orders issued under this act or the predecessor act; and interpretative opinions or no action determinations issued under this act. |B. The Administrator shall make all rules, forms, interpretative opinions, and orders available to the public.C. The Administrator shall furnish a copy of a record that is a public record or a certification that the public record does not exist to a person who so requests. The charge for furnishing the record or certification shall be specified in Section 50 of this act. A copy of the record certified or a certificate by the Administrator of a record's nonexistence is prima facie evidence of a record or its nonexistence.Added by Laws 2003, c. 347, § 44, eff. July 1, 2004.
71 OK Stat § 71-1-607 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-1-607. Public records - Confidentiality.

|A. Except as otherwise provided in subsection B of this section, records obtained by the Administrator or filed under this act, including a record contained in or filed with a registration statement, application, notice filing, or report, are public records and are available for public examination. |B. The following records are not public records and are not available for public examination under subsection A of this section:1. A record obtained by the Administrator or created by a representative of the Administrator in connection with an audit or inspection under subsection K of Section 14 or subsection D of Section 27 of this act or an investigation under Section 40 of this act;2. A part of a record filed in connection with a registration statement under Sections 10 and 12 through 14 of this act or a record obtained under subsection K of Section 14 or subsection D of Section 27 of this act that contains trade secrets or confidential information if the person filing the registration statement or providing the record has asserted a claim of confidentiality or privilege that is authorized by law;3. A record that is not required to be provided to the Administrator or filed under this act and is provided to the Administrator only on the condition that the record will not be subject to public examination or disclosure;4. A record in a litigation file;5. A nonpublic record received from a person specified in subsection A of Section 46 of this act;6. A record obtained by the Administrator through a designee of the Administrator that a rule or order under this act determines has been:a.expunged from the Administrator’s records by the designee, orb.determined to be nonpublic or nondisclosable by that designee if the Administrator finds the determination to be in the public interest and necessary for the protection of investors; and7. Any social security number, residential address unless used as a business address, and residential telephone number contained in a record that is filed.C. If disclosure is for the purpose of a civil or administrative investigation, action, or proceeding brought by the Administrator or a criminal referral made by the Administrator or to a person specified in subsection A of Section 46 of this act, the Administrator may disclose a record obtained in connection with an audit or inspection under subsection K of Section 14 of this act or subsection D of Section 27 of this act or a record obtained or created in connection with an investigation under Section 40 of this act so long as the receiving person specified in subsection A of Section 46 of this act provides assurances to undertake such safeguards as are necessary and appropriate to protect the confidentiality of files to which access is granted and information derived therefrom.Added by Laws 2003, c. 347, § 45, eff. July 1, 2004.
71 OK Stat § 71-1-608 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-1-608. Uniformity and cooperation with other agencies.

|A. The Administrator shall, in its discretion, cooperate, coordinate, consult, and, subject to Section 45 of this act, share records and information with the securities regulator of another state, Canada, a Canadian province or territory, a foreign jurisdiction, the Securities and Exchange Commission, the United States Department of Justice, the Commodity Futures Trading Commission, the Federal Trade Commission, the Securities Investor Protection Corporation, a self-regulatory organization, a national or international organization of securities regulators, a federal or state banking and insurance regulator, and a governmental law enforcement agency to effectuate greater uniformity in securities matters among the federal government, self-regulatory organizations, states, and foreign governments. |B. In cooperating, coordinating, consulting, and sharing records and information under this section and in acting by rule, order, or waiver under this act, the Administrator shall, in its discretion, take into consideration in carrying out the public interest the following general policies:1. Maximizing effectiveness of regulation for the protection of investors;2. Maximizing uniformity in federal and state regulatory standards; and3. Minimizing burdens on the business of capital formation, without adversely affecting essentials of investor protection.C. The cooperation, coordination, consultation, and sharing of records and information authorized by this section includes:1. Establishing or employing one or more designees as a central depository for registration and notice filings under this act and for records required or allowed to be maintained under this act;2. Developing and maintaining uniform forms;3. Conducting a joint examination or investigation;4. Holding a joint administrative hearing;5. Instituting and prosecuting a joint civil or administrative proceeding;6. Sharing and exchanging personnel;7. Coordinating registrations under Sections 10 and 18 through 21 of this act and exemptions under Section 8 of this act;8. Sharing and exchanging records, subject to Section 45 of this act;9. Formulating rules, statements of policy, guidelines, forms, and interpretative opinions and releases;10. Formulating common systems and procedures;11. Notifying the public of proposed rules, forms, statements of policy, and guidelines;12. Attending conferences and other meetings among securities regulators, which may include representatives of governmental and private sector organizations involved in capital formation, deemed necessary or appropriate to promote or achieve uniformity; and13. Developing and maintaining a uniform exemption from registration for small issuers, and taking other steps to reduce the burden of raising investment capital by small businesses.Added by Laws 2003, c. 347, § 46, eff. July 1, 2004.
71 OK Stat § 71-1-609 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-1-609. Commission review of order - Judicial review.

|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 the person’s specific grounds therefor. The petition, the record upon which the final order was issued, and written briefs submitted by the appealing parties and the Administrator shall be reviewed by the Commission. The cost of preparing the record of the administrative hearing shall be borne by the appealing parties. Oral argument by all parties may be heard by the Commission en banc if requested by an appealing party. Other than newly discovered evidence, additional evidence may only be presented by the appealing party and/or the Administrator on the request of the Commission. Upon the written request of the party on whose behalf the appeal is brought, or upon the party’s own motion, the Administrator shall cause complete stenographic notes to be taken of the proceeding before the Commission. 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 Department. The Commission or a majority thereof shall make such order as is deemed proper, just, and equitable within sixty (60) days of receipt by the Administrator of the written petition of the appealing party or at such later time as agreed to by all parties. |B. Appeals by any person aggrieved by a final order of the Commission, except a final order of the Commission to cease and desist, shall be taken to the Supreme Court of this state within thirty (30) days of the date that a copy of the order is mailed to such person, as shown by the certificate of mailing attached to the order. Any person aggrieved by a final order of the Commission to cease and desist shall be taken to the district court of Oklahoma County within thirty (30) days of the date that a copy of the order is mailed to such person, as shown by the certificate of mailing attached to the order. The proceedings for review shall be as now prescribed by law and by rules of the reviewing court, subject to the power of the reviewing court to make other and further rules with reference thereto.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 Supreme Court shall not operate as a stay of the Commission's order, unless so ordered by the Court.Added by Laws 2003, c. 347, § 47, eff. July 1, 2004.
71 OK Stat § 71-1-701 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-1-701. Application of act to existing proceedings and rights.

|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 under the predecessor act unless instituted within any period of limitation that applied when the cause of action accrued or within five (5) years after the effective date of this act, whichever is earlier. |B. All effective registrations under the predecessor act, all administrative orders relating to the registrations, rules, statements of policy, interpretative opinions, declaratory rulings, no action determinations, and conditions imposed on the registrations under the predecessor act remain in effect while they would have remained in effect if this act had not been enacted. They are considered to have been filed, issued, or imposed under this act, but are exclusively governed by the predecessor act.C. The predecessor act exclusively applies to an offer or sale made within one (1) year after the effective date of this act pursuant to an offering made in good faith before the effective date of this act on the basis of an exemption available under the predecessor act.Added by Laws 2003, c. 347, § 52, eff. July 1, 2004.
71 OK Stat § 71-416 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-416. Statutory procedure must be followed.

|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.