reglab/housing_qa huggingface dataset:
71 OK Stat § 71-417 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-417. Discrimination prohibited.

|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 multinational corporation take-over bid is made to holders of such equity security not residing in this state. If an offeror makes a tender offer or request or invitation for tenders for less than all the outstanding equity securities of a class, and if a greater number of securities is deposited pursuant thereto within ten (10) days after copies of the offer or request or invitation for tenders are first published or sent or given to security holders that such offeror is bound or willing to take up and pay for, the securities shall be taken up as nearly as may be pro rata, disregarding fractions, according to the number of securities deposited by each offeree. This section shall apply to securities deposited within ten (10) days after notice of an increase in the consideration offered to security holders, as described in this section, is first published or sent or given to security holders. If the terms of a multinational corporation take-over bid are changed before its expiration by increasing the consideration offered to offerees, the offeror shall pay the increased consideration for all equity securities taken up, whether the same are deposited or taken up before or after the change in the terms of the multinational corporation take-over bid. |Added by Laws 1980, c. 300, § 4, emerg. eff. June 12, 1980.
71 OK Stat § 71-418 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-418. Copies of information to be filed with certain regulatory 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 Commission, the Administrator shall forthwith, upon receipt of the filing required under this act, furnish a copy of such filing to the regulatory body having jurisdiction over the offeror or target company. |Added by Laws 1980, c. 300, § 5, emerg. eff. June 12, 1980.
71 OK Stat § 71-419 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-419. Liabilities, remedies and penalties.

|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.
71 OK Stat § 71-420 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-420. Rules and regulations.

|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 corporation take-over bids not made for the purpose of, and not having the effect of, changing or influencing the control of a target company; and3. Covering such other matters as are necessary to give effect to this act.Added by Laws 1980, c. 300, § 7, emerg. eff. June 12, 1980.
71 OK Stat § 71-421 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-421. Exemptions.

|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-over bid is subject to approval by the appropriate federal agency as provided in such act;2. The offeror or the target company is a bank or a bank holding company as subject to the "Bank Holding Company Act of 1956," 70 Stat. 133, 12 U.S.C. 1841, and subsequent amendments thereto, and the multinational corporation take-over bid is subject to approval by the appropriate federal agency as provided in such act;3. The offeror or the target company is a savings and loan holding company as defined in Section 2 of the "Savings and Loan Holding Company Amendments of 1967," 82 Stat. 5, 12 U.S.C. 1730A, as amended, and the multinational corporation take-over bid is subject to approval by the appropriate federal agency as provided in such act;4. The offeror and the target company are banks and the offer is part of a merger transaction subject to approval by appropriate federal supervisory authorities; and5. The offeror or target company is an insurance company regulated under the Oklahoma Insurance Code.Added by Laws 1980, c. 300, § 8, emerg. eff. June 12, 1980.
71 OK Stat § 71-451 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-451. Short title.

|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.
71 OK Stat § 71-454 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-454. Solicitation materials - Filing - Prohibited use.

|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 target company or offeror, respectively, not later than the time copies of such solicitation materials are first published or used or sent to offerees. The Administrator may prohibit the use of any solicitation materials deemed false or misleading. |Added by Laws 1985, c. 285, § 4, emerg. eff. July 22, 1985.
71 OK Stat § 71-455 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-455. Fraudulent, deceptive and manipulative acts prohibited.

|It is unlawful 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 acts or practices in connection with a take-over offer. Fraudulent, deceptive and manipulative acts or practices include without limitation: |1. The publication or use in connection with the offer of any false statement of a material fact or the omission to state a material fact necessary to make the statements made not misleading;2. The sale by any controlling shareholders of a target company of any or all of their equity securities to the offeror for a consideration greater than that to be paid other shareholders pursuant to the take-over offer or the purchase of any of the securities of a controlling shareholder of the target company by the offeror for a consideration greater than that to be paid other shareholders, the terms of which are not disclosed to the other shareholders;3. The refusal by a target company to permit an offeror who is a shareholder of record to examine its list of shareholders, and to make extracts therefrom, pursuant to the applicable corporation statutes, for the purpose of making a take-over offer in compliance with this act, or in lieu thereof, to mail any solicitation materials published by the offeror to its security holders with reasonable promptness after receipt from the offeror of such materials together with the reasonable expenses of postage and handling; and4. The solicitation of any offeree for acceptance or rejection of a take-over offer or acquisition of any equity security pursuant to a take-over offer before the take-over offer is effective under this act or while the offer is suspended under this act.Added by Laws 1985, c. 285, § 5, emerg. eff. July 22, 1985.
71 OK Stat § 71-456 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-456. Actions of offeror - Limitations.

|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 pursuant to a take-over offer may be withdrawn by or on behalf of any offeree at any time within seven (7) days from the date the offer has become effective under this act and after sixty (60) days from the date the offer has become effective under this act, except as the Administrator of the Department of Securities may otherwise prescribe by rule or order for the protection of investors.C. If an offeror makes a take-over offer for less than all the outstanding equity securities of any class, and if the number of securities deposited or tendered pursuant thereto within ten (10) days after the offer has become effective under this act and copies of the offer, or notice of any increase in the consideration offered, are first published or sent or given to security holders is greater than the number the offeror has offered to accept and pay for, the securities shall be accepted pro rata, disregarding fractions, according to the number of securities deposited or tendered by each offeree.D. If an offeror varies the terms of a take-over offer before its expiration date by increasing the consideration offered to security holders, the offeror shall pay the increased consideration for all equity securities accepted, whether such securities have been accepted by the offeror before or after the variation in the terms of the offer.E. No offeror may make a take-over offer or acquire any equity securities in this state pursuant to the take-over offer, at any time when any injunction or cease and desist order is in effect against the offeror based upon a violation of any provision of this act or the Oklahoma Securities Act.F. No offeror may acquire, remove or exercise control, directly or indirectly, over any target company assets located in this state pursuant to a take-over offer at any time when any injunction or cease and desist order is in effect against the offeror based upon a violation of any provision of this act or the Oklahoma Securities Act.Added by Laws 1985, c. 285, § 6, emerg. eff. July 22, 1985.
71 OK Stat § 71-457 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-457. Powers of Administrator - Rules and forms - Exemptions 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 forms as are necessary to carry out the purposes of this act, including, without limitation, rules defining terms used in this act.C. The Administrator may by rule or order exempt from any provisions of this act any proposed take-over offer or any category or type of take-over offer which the Administrator determines does not have the purpose or effect of changing or influencing the control of a target company or where he determines that compliance with this act is not necessary for the protection of the offerees, and the Administrator may similarly exempt any persons from the requirement of filing statements under this act.Added by Laws 1985, c. 285, § 7, emerg. eff. July 22, 1985.
71 OK Stat § 71-458 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-458. Registration fee.

|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.
71 OK Stat § 71-459 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-459. Violations - Cease and desist orders - Injunctions.

|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 hereunder: |1. He may issue and cause to be served upon any person violating any of the provisions of this act an order requiring the person guilty thereof to cease and desist therefrom; and2. He may bring an action in the district court of Oklahoma County or the district court in any county where service can be obtained on one or more of the offenders to enjoin the acts or practices and to enforce compliance with this act or any rule or order hereunder.B. Upon a proper showing, the court may grant a permanent or temporary injunction or restraining order and may order rescission of any sales or purchases of securities determined to be unlawful under this act or any rule or order hereunder. The court shall not require the Administrator to post a bond.Added by Laws 1985, c. 285, § 9, emerg. eff. July 22, 1985.
71 OK Stat § 71-460 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-460. Violations - Penalty - Evidence.

|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 felony and may be fined not more than Twenty-five Thousand Dollars ($25,000.00) or imprisoned not more than five (5) years, or both. Each of the acts specified shall constitute a separate offense and a prosecution or conviction for any one of such offenses shall not bar prosecution or conviction for any other offense. No indictment or information may be returned under this act more than two (2) years after the alleged violation. |B. The Administrator may refer such evidence as is available concerning violations of this act or of any rule or order hereunder to the Attorney General or the district attorney for the appropriate county who may, with or without any reference, institute the appropriate criminal proceedings under this act. If referred to a district attorney, he shall, within ninety (90) days, file with the Administrator a statement concerning any action taken or, if no action is taken, the reasons therefor.C. Nothing in this act limits the power of the state to punish any person for any conduct which constitutes a crime under any other statute.D. All shares acquired from an Oklahoma resident in violation of any provision of this act or any rule thereunder, or any order of the Administrator of which the person has notice, shall be denied voting rights for one (1) year after acquisition, the shares shall be nontransferable on the books of the target company for one (1) year after acquisition and the target company shall, during this one-year period, have the option to call the shares for redemption either at the price at which the shares were acquired or at book value per share as of the last day of the fiscal quarter ended prior to the date of the call for redemption. Such a redemption shall occur on the date set in the call notice, but not later than sixty (60) days after the call notice is given.Added by Laws 1985, c. 285, § 10, emerg. eff. July 22, 1985. Amended by Laws 1997, c. 133, § 580, eff. July 1, 1999; Laws 1999, 1st Ex.Sess., c. 5, § 420, eff. July 1, 1999.NOTE: Laws 1998, 1st Ex.Sess., c. 2, § 23 amended the effective date of Laws 1997, c. 133, § 580 from July 1, 1998, to July 1, 1999.
71 OK Stat § 71-461 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-461. Liability of offeror - Rights and remedies of seller.

|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, plus any income received by the purchaser thereon, upon tender of the consideration received. Tender requires only notice of willingness to pay the amount specified in exchange for the security. Any notice may be given by service as in civil actions or by certified mail to the last-known address of the person liable. Damages are the excess of either the value of the security on the date of purchase or its present value, whichever is greater, over the present value of the consideration received for the security. |B. Every person who directly or indirectly controls a person liable under subsection A of this section, every partner, principal executive officer or director of such person, every person occupying a similar status or performing similar functions, every employee of such person who materially aids in the act or transaction constituting the violation, and every broker-dealer or agent who materially aids in the act or transaction constituting the violation, is also liable jointly and severally with and to the same extent as such person, unless the person who would otherwise be so liable proves that he did not know, and in the exercise of reasonable care could not have known, of the existence of the facts by reason of which the liability is alleged to exist. There is contribution as in cases of contract among the several persons so liable.C. No action may be maintained under this section unless commenced before the expiration of three (3) years after the act or transaction constituting the violation or the expiration of one (1) year after the discovery of the facts constituting the violation, whichever first expires.D. The rights and remedies under this act are in addition to any other rights or remedies that may exist at law or in equity.Added by Laws 1985, c. 285, § 11, emerg. eff. July 22, 1985.
71 OK Stat § 71-462 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-462. Application of provisions of Oklahoma Securities Act.

|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.
71 OK Stat § 71-601 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-601. Citation.

|This Code shall be known and may be cited as the "Oklahoma Subdivided Land Sales Code." |Added by Laws 1977, c. 95, § 601.
71 OK Stat § 71-621 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-621. Registration - Violations.

|A. It is unlawful 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 land or transaction is exempt under Sections 622 or 623 of this Code. |B. It is unlawful for any subdivider or registrant of subdivided lands registered under this Code, or any person in control of, controlled by, or under common control with the subdivider or registrant, or any agent, to offer or dispose of any of the registered subdivided land if the subdivider or registrant is in violation of this Code, or any rule promulgated under this Code, or any order issued under this Code of which he has notice, or if the registration statement relating to the subdivided lands, as of the date of such offer or disposition, is incomplete in any material respect or contains any statement which is false or misleading with respect to any material fact.Added by Laws 1977, c. 95, § 621.
71 OK Stat § 71-622 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-622. Exemptions.

|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 more of the foregoing;2. Cemetery lots or interests;3. Subdivided lands in which there are fewer than twenty lots or parcels intended for sale or lease, whether immediate or future;4. Lots on which there is a residential, commercial or industrial building, or as to which there is a legal obligation on the part of the seller to construct such building within two (2) years of the date of disposition;5. Evidences of indebtedness secured by a real estate mortgage or deed of trust; and6. Such interests in subdivided lands as are regulated as securities under the Oklahoma Securities Act, as provided by this title, and the Administrator by rule or order exempts.Added by Laws 1977, c. 95, § 622.
71 OK Stat § 71-623 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-623. Additional exemptions.

|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 disposition of subdivided lands if not more than ten lots are offered in any period of twelve (12) consecutive months;4. Offer or disposition of lots to persons who are engaged in the business of construction of buildings for resale, or to persons who acquire an interest in subdivided lands for the purpose of engaging, and do engage in, the business of construction of buildings for resale;5. Offer or disposition pursuant to an order of a court of competent jurisdiction;6. Offer or disposition of lots, each of which will be sold for less than One Hundred Dollars ($100.00), including closing costs, provided that the purchaser will not be required to purchase more than one lot;7. Such leases of lots which the Administrator by rule or order exempts which are for periods not in excess of five (5) years, provided the terms of the lease do not obligate the lessee to renew;8. Offer or disposition of subdivided lands if each lot within the subdivision exceeds ten (10) acres in size;9. Sales of securities issued by a real estate investment trust; and10. Any other transaction as to which the Administrator by rule or order finds that registration is not necessary or appropriate for the protection of purchasers.Added by Laws 1977, c. 95, § 623.
71 OK Stat § 71-624 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-624. Burden of proof.

|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.
71 OK Stat § 71-631 (2021)
2021 Oklahoma Statutes|Title 71. Securities|§71-631. Licenses - Exemptions - Term - Suspension, revocation or denial.

|A. It is unlawful for any person to transact business in this state as an agent unless he has obtained a real estate broker's or real estate sales associate's license from his state of residence, if required, and has obtained a license under this Code to offer or dispose of subdivided lands, provided that the provisions of this section shall not apply to a person whose dealings relate solely to property exempt under Section 622 of this title or to transactions exempt under Section 623 of this title. |B. Every license expires on the thirtieth day of June following the date of issuance. It may be renewed under such rules as the Administrator may establish.C. Any license may be suspended, revoked or denied as provided in Section 634 of this title.D. The Administrator may, by rule or order, exempt from the requirements of this section persons as to whom he finds licensing under this Code is not necessary for the protection of purchasers.Added by Laws 1977, c. 95, § 631. Amended by Laws 1988, c. 108, § 25, eff. Nov. 1, 1988.