reglab/statecodes huggingface dataset:
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 11 - Oklahoma Uniform Securities Act of 2004 › Subchapter 13 - Sales Literature › Section 660:11-13-2 - Definitions

Current through Vol. 41, No. 20, July 1, 2024
The following words and terms, when used in this subchapter,
				  shall have the following meaning, unless the context clearly indicates
				  otherwise:
"Sales literature"
means material published, or
				  designed for use, in a newspaper, magazine or other periodical, radio,
				  television, telephone solicitation or tape recording, videotaped display,
				  signs, billboards, motion pictures, telephone directories (other than routine
				  listings), website,other public media and any other written or electronic
				  communication distributed or made generally available to customers or the
				  public and used in connection with the offer or sale of securities or the
				  services of a broker-dealer or investment adviser.Sales literature includes,
				  but isnot limited to, prospectuses, pamphlets, circulars, form letters, market
				  letters, telemarketing scripts,seminar texts, research reports, surveys,
				  performance reports or summaries and reprints or excerpts of any other
				  advertisement,sales literature or published material .
"Sales literature package"
means all submissions
				  of Sales Literature to the Department under one posting or delivery relating to
				  a specific issue of securities or the services of one or more specific
				  broker-dealers or investment advisers.
Added at 21 Ok Reg 2532, eff 7-1-04; Amended at 30 Ok Reg
					 2088, eff 8-1-13
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 11 - Oklahoma Uniform Securities Act of 2004 › Subchapter 13 - Sales Literature › Section 660:11-13-3 - Filing requirements

Current through Vol. 41, No. 20, July 1, 2024
(a)
Requirement of filing.
Section 1-504 of the Securities Act
				requires a filing of all Sales Literature for review and response by the
				Administrator before use or distribution in Oklahoma. A complete filing shall
				consist of:
(1) the Sales Literature
				Package,
(2) the fee specified in
				Section 1-612 of the Securities Act, and
(3) a representation:
(A) by the applicant, issuer or
				broker-dealer, that reads substantially as follows: "I ------hereby attest and
				affirm that the enclosed sales literature or advertising package contains no
				false or misleading statements or misrepresentations of material facts, and
				that all information set forth therein is in conformity with the Company's most
				recently amended registration statement as filed with the Oklahoma Department
				of Securities on or about-----." ; or
(B) by the applicant, broker-dealer or
				investment adviser, that reads substantially as follows: "I ------hereby attest
				and affirm that the enclosed sales literature or advertising package contains
				no false or misleading statements or misrepresentations of material facts, and
				that all information set forth therein is in conformity with the provider's
				current information on file with the Oklahoma Department of
				Securities."
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 11 - Oklahoma Uniform Securities Act of 2004 › Subchapter 13 - Sales Literature › Section 660:11-13-4 - Content

Current through Vol. 41, No. 20, July 1, 2024
(a)
Application of antifraud
				provisions.
Sales Literature used in any manner in connection with the
				offer and sale of securities or the offer of brokerage or advisory services is
				subject to the provisions of Section 1-501 and/or 1-502of the Securities Act,
				whether or not such Sales Literature is required to be filed pursuant to
				Section 1-504 of the Securities Act or
				660:11-13-3.
				Further, Sales Literature filed with the Department is subject to the
				provisions of Sections 1-501 and/or 1-502 and 1-505 of the Securities Act.
				Sales Literature should be prepared accordingly and should not contain any
				ambiguity, exaggeration or other misstatement or omission of material fact,
				which might confuse or mislead an investor.
(b)
Prohibited disclosures.
(1) Unless stating that the Commission,
				Administrator or Department has not approved the merits of the securities
				offering or the Sales Literature, no Sales Literature shall contain a reference
				to the Commission or the Department unless such reference is specifically
				required in a Departmental Prospectus Guide or requested by the
				Administrator.
(2) An investment
				adviser is prohibited from publishing, circulating or distributing any Sales
				Literature that:
(A) refers, directly or
				indirectly, to any testimonial concerning the investment adviser or any advice,
				analysis, report, or other service rendered by such investment
				adviser;
(B) refers to past
				specific recommendations of the investment adviser that were or would have been
				profitable unless the investment adviser provides:
(i) all past recommendations made during the
				immediately preceding period of not less than one year,
(ii) additional information sufficient for a
				reader to evaluate the adviser's performance to include, but not be limited to,
				the name of each such security recommended, the date and nature of each such
				recommendation (e.g., whether to buy, sell or hold), the market price at that
				time, the price at which the recommendation was to be acted upon, and the
				market price of each such security as of the most recent practicable date,
				and
(iii) a disclaimer to the
				effect that past performance does not guarantee future success;
(C) represents that any graph,
				chart, formula or other device offered can in and of itself be used to make
				trading decisions without prominently disclosing in the advertisement any
				limitations or difficulties in its use; or
(D) contains any statement to the effect that
				any report, analysis, or service is free unless such report, analysis or other
				service actually is or will be furnished entirely free and without any
				condition or obligation, directly or indirectly.
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 11 - Oklahoma Uniform Securities Act of 2004 › Subchapter 15 - Miscellaneous Provisions › Section 660:11-15-1 - General rules for presentation of financial statements

Current through Vol. 41, No. 20, July 1, 2024
(a)
Asset values.
The following
				rules shall apply in presenting asset values in all Financial Statements filed
				with the Department:
(1) A unilateral
				"write-up" of assets above historical cost is not considered in accordance with
				generally accepted accounting principles. Financial Statements containing a
				"write-up" of assets to appraisal values (irrespective of the soundness of the
				appraisal) shall not be accepted.
(2) A registrant acquiring assets in an
				"arms-length" transaction, solely or partly for its own capital stock, should
				record the transaction in its Financial Statements at either:
(A) the fair market value of the shares of
				stock given in consideration, or
(B) the fair market value of the asset so
				acquired.
(C) The amount selected
				should be one that has the preponderance of evidence substantiating its
				selection.
(3) Where a
				parent company (one owning more than 50% of other companies) or a subsidiary
				company or an affiliated company is the registrant, consolidated or combined
				Financial Statements shall be submitted. The consolidated statements must
				conform to generally accepted accounting principles and result in the
				elimination of "write-ups" or appraisal amounts not represented by
				"arms-length" transactions.
(4)
				Where the "promoters" of a registrant have transferred assets to the registrant
				solely or partly for capital stock, the tests referred to in (1), (2) and (3)
				of this subsection must be applied so as to result in either no "write-up" or
				one not greater than would have resulted from a transaction carried out at
				"arms-length." The registrant shall make full disclosure of all pertinent facts
				and substantiate the values used in its Financial Statements if not
				representing "historical cost" of acquisition from third parties.
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 11 - Oklahoma Uniform Securities Act of 2004 › Subchapter 15 - Miscellaneous Provisions › Section 660:11-15-2 - Protection from financial exploitation

Current through Vol. 41, No. 20, July 1, 2024
(a)
Definitions.
The following
				words and terms, when used in this Section shall have the following meanings,
				unless the context clearly indicates otherwise:
(1)
"Account"
means any account
				of a broker-dealer or investment adviser for which a Protected Adult has the
				authority to transact business.
(2)
"Agencies"
means the one or more of the following: the Oklahoma
				Department of Human Services, the office of the district attorney in the county
				in which the suspected exploitation occurred, or the local municipal police or
				sheriff's department.
(3)
"Financial exploitation"
means:
(A) the wrongful or unauthorized taking,
				withholding, appropriation or use of money, assets, or property of a protected
				adult; or
(B) any act or omission
				taken by a person, including through the use of a power of attorney,
				guardianship, conservatorship or any other authority, regarding a protected
				adult, to:
(i) obtain control, though the use
				of intimidation, undue influence, coercion, harassment, duress, deception,
				false representation or false pretense, over the protected adult's money,
				assets or property; or
(ii) convert
				money, assets, or property of the protected adult.
(4)
"Protected adult"
means
(A) an individual 62 years of age or
				older; or
(B) an incapacitated
				person or a vulnerable adult as such terms are defined in the Protective
				Services for Vulnerable Adults Act in Title 43A of the Oklahoma
				Statutes.
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 15 - Oklahoma Take-Over Disclosure Act of 1985 › Subchapter 1 - General Provisions › Section 660:15-1-1 - Purpose

Current through Vol. 41, No. 20, July 1, 2024
The provisions of this Chapter have been adopted for the
				  purpose of carrying out the provisions of the Oklahoma Take-over Disclosure Act
				  of 1985 in compliance with Section 457 of that Act, including provisions
				  governing take-over offers.
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 15 - Oklahoma Take-Over Disclosure Act of 1985 › Subchapter 1 - General Provisions › Section 660:15-1-2 - Statutory citations

Current through Vol. 41, No. 20, July 1, 2024
Citations to statutes in this Chapter refer to the most
				  recent codification of the Oklahoma Take-over Disclosure Act of 1985, 71 O.S.,
				  Sections 451 through 462.
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 15 - Oklahoma Take-Over Disclosure Act of 1985 › Subchapter 1 - General Provisions › Section 660:15-1-3 - Definitions

Current through Vol. 41, No. 20, July 1, 2024
The following words and terms, when used in this Chapter,
				  shall have the following meaning, unless the context clearly indicates
				  otherwise:
"Take-over Act"
means the most recent
				  codification of the Oklahoma Take-over Disclosure Act of 1985, 71 O.S.,
				  Sections 451 through 462.
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 15 - Oklahoma Take-Over Disclosure Act of 1985 › Subchapter 3 - Registration › Section 660:15-3-1 - Review of take-over offer materials

Current through Vol. 41, No. 20, July 1, 2024
The Administrator may require only those disclosures which
				  are factual in nature, and may not require disclosures which involve an
				  evaluation of the underlying fairness of the take-over offer nor shall the
				  Administrator apply subjective standards as to the fairness of the take-over
				  offer in his review.
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 15 - Oklahoma Take-Over Disclosure Act of 1985 › Subchapter 3 - Registration › Section 660:15-3-2 - Financial statements

Current through Vol. 41, No. 20, July 1, 2024
If the offeror is other than a natural person, such offeror
				  shall file audited financial statements for its last two (2) fiscal years. If
				  the offeror's audited financial statements are not current to within four (4)
				  months of the date of filing of the registration statement, the offeror shall
				  submit reviewed financial statements for the interim period. The financial
				  statements shall be prepared in accordance with generally accepted accounting
				  principles and examined by independent accountants in accordance with generally
				  accepted auditing standards and accompanied by an opinion of the accountants
				  making such examination.
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 15 - Oklahoma Take-Over Disclosure Act of 1985 › Subchapter 3 - Registration › Section 660:15-3-3 - Summary suspension of take-over offer

Current through Vol. 41, No. 20, July 1, 2024
(a) Pursuant to subsection D of Section 453
				of the Take-over Act, the Administrator may summarily suspend the effectiveness
				of a take-over offer. Such an action shall be based solely upon a determination
				that:
(1) the registration statement required
				to be filed under Section 453 of the Take-over Act does not contain all the
				information required to be included under subsection F of Section 453 of the
				Take-over Act; or
(2) the take-over
				materials provided to offerees do not provide full disclosure to offerees of
				all material information concerning the take-over offer.
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 15 - Oklahoma Take-Over Disclosure Act of 1985 › Subchapter 3 - Registration › Section 660:15-3-4 - Time limits

Current through Vol. 41, No. 20, July 1, 2024
Notwithstanding subsection E of Section 453 of the Take-over
				  Act which provides that the Administrator may by rule or order prescribe
				  different time limits than those specified in subsection E in connection with
				  the suspension of a take-over offer following a hearing, the determination by
				  the Administrator of whether to suspend a take-over offer must be made prior to
				  the expiration of twenty (20) business days following the filing of the
				  registration statement in connection with such take-over
				  offer.
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 20 - Oklahoma Subdivided Land Sales Code › Subchapter 1 - General Provisions › Section 660:20-1-1 - Purpose

Current through Vol. 41, No. 20, July 1, 2024
The provisions of this Chapter have been adopted for the
				  purpose of carrying out the provisions of the Oklahoma Subdivided Land Sales
				  Code in compliance with Section 662 of that Act, including rules governing
				  applications and reports and defining terms.
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 20 - Oklahoma Subdivided Land Sales Code › Subchapter 1 - General Provisions › Section 660:20-1-2 - Statutory citations

Current through Vol. 41, No. 20, July 1, 2024
Citations to statutes in this Chapter refer to the most
				  recent codification of the Oklahoma Subdivided Land Sales Code, 71 O.S.,
				  Sections 601 through 667.
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 20 - Oklahoma Subdivided Land Sales Code › Subchapter 1 - General Provisions › Section 660:20-1-3 - Definitions

Current through Vol. 41, No. 20, July 1, 2024
Unless the context otherwise requires, or unless defined in
				  this Section, terms used in this Chapter, if defined in the Land Sales Code
				  shall have the meaning as defined in the Land Sales Code. The following words
				  and terms, when used in this Chapter, shall have the following meaning, unless
				  the context clearly indicates otherwise:
"Department"
means the Oklahoma Department of
				  Securities.
"Land Sales Act"
means the most recent
				  codification of the Oklahoma Subdivided Land Sales Code, 71 O.S., Sections 601
				  through 667.
"OILSR"
means the Office of Interstate Land
				  Sales Registration of the United States Department of Housing and Urban
				  Development.
"Vacation certificates"
means any material
				  associated with a plan whereby a prospective purchaser would be entitled to
				  lodging, food or other amenities and that is used by subdividers or their
				  agents or distributors or any other person to induce prospective purchasers to
				  visit the subdivision or attend or submit to a sales presentation by a
				  subdivider or its agents or its distributors or any other person.
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 20 - Oklahoma Subdivided Land Sales Code › Subchapter 3 - Registration of Subdivided Land › Section 660:20-3-2 - Financial statements

Current through Vol. 41, No. 20, July 1, 2024
Whenever required by the Land Sales Act or any provision of
				  this Chapter, financial statements shall mean a statement of financial
				  position, a statement of income, a statement of retained earnings, a statement
				  of changes in financial position and, when required elsewhere or otherwise
				  required by the Administrator, a separately certified schedule of real estate
				  assets. The separately certified schedule of real estate assets shall disclose
				  real estate held in sufficient detail to identify the subdivided land being
				  offered in Oklahoma and separate parcels thereof acquired at different times or
				  at different costs per acre; the schedule shall disclose the number of acres in
				  each such parcel; the date each such parcel was acquired; the original cost for
				  each such parcel; the amounts of any improvements capitalized and added to the
				  cost basis of each such parcel; and the total amount of the historical cost
				  basis of each such parcel; the amounts of any improvements capitalized and
				  added to the cost basis of each such parcel; and the total amount of historical
				  cost basis of each such parcel, with improvements, adjusted for a depreciation
				  of improvements. All financial statements shall be prepared in accordance with
				  generally accepted accounting principles and practices, unless otherwise
				  provided by the Administrator, and shall be audited and certified by
				  independent accountants, unless otherwise provided elsewhere or by the
				  Administrator.
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 20 - Oklahoma Subdivided Land Sales Code › Subchapter 3 - Registration of Subdivided Land › Section 660:20-3-4 - Renewal procedures

Current through Vol. 41, No. 20, July 1, 2024
Upon the expiration of an effective registration the
				  Administrator may renew the registration for an additional period of one (1)
				  year provided the registrant is in compliance with the Land Sales Act, has
				  filed all reports required by the Administrator, including periodic and
				  supplemental updates and sales reports, pays an examination fee of Two Hundred
				  Fifty Dollars ($250.00), and renewal is requested by a letter signed by the
				  registrant.
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 20 - Oklahoma Subdivided Land Sales Code › Subchapter 5 - Registration of Subdivided Land Sales Agents › Section 660:20-5-1 - Application for license

Current through Vol. 41, No. 20, July 1, 2024
(a)
Application.
An application for a subdivided land sales agent
				license shall be made by filing with the Administrator a completed Form
				LRF-632, adopted by the Administrator as the "APPLICATION FOR LICENSE FOR
				SUBDIVIDED LAND SALES AGENT."
(b)
Additional requirements.
In addition to the completed Form
				LRF-632, the following items will be required before a license will be issued:
(1) an affidavit signed by the supervising
				broker for the subdivision within ninety (90) days from the date of applying
				for the Oklahoma Subdivided Land Sales Agent license, affirming the type of
				real estate license held by the applicant and that he is a licensee in good
				standing; and
(2) payment to the
				Oklahoma Department of Securities of the required filing fee specified in
				Section 652 of the Land Sales Act.
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 20 - Oklahoma Subdivided Land Sales Code › Subchapter 5 - Registration of Subdivided Land Sales Agents › Section 660:20-5-2 - Renewal of license

Current through Vol. 41, No. 20, July 1, 2024
Every subdivided land sales license may be renewed by
				  submitting proof that the applicant holds a valid, current real estate broker's
				  or real estate sales associate's license, the renewal fee specified in Section
				  652 of the Land Sales Act, and a submission of a letter signed by the applicant
				  requesting such renewal. Proof of a valid, current real estate broker's or real
				  estate sales associate's license should consist of an affidavit dated within
				  ninety (90) days of the requested renewal date and signed by the supervising
				  broker for the subdivision. The affidavit shall affirm the kind of license held
				  by the applicant and that he is a licensee in good standing. The proof should
				  also consist of a photostatic copy or picture of the applicant's current real
				  estate license issued by the appropriate regulatory authority. Every such
				  renewal shall be for a period of one (1) year. Applications for renewal will be
				  accepted anytime within sixty (60) days prior to the expiration date of a
				  license.
Amended at 9 Ok Reg
				  3011, eff 7-15-92; Amended at 15 Ok Reg 3449, eff
				  7-15-98
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 20 - Oklahoma Subdivided Land Sales Code › Subchapter 5 - Registration of Subdivided Land Sales Agents › Section 660:20-5-3 - Records and reports

Current through Vol. 41, No. 20, July 1, 2024
Every agent shall make and keep, for each subdivider he
				  represents, a monthly report. A copy of each monthly report shall be provided
				  by the agent to the subdivider for retention by the subdivider for at least six
				  (6) years, and for the first three (3) years in a readily accessible location.
				  Such monthly report shall be provided to the subdivider within fifteen (15)
				  days following the last day of the month covered by the report. Each monthly
				  report shall set out the name and address of the agent and the subdivider and
				  state the period of time covered by the report and shall be signed by the
				  agent; shall identify and list all lots which have been sold by the agent for
				  the subdivider during the month covered; shall state the name and address of
				  the purchaser or purchasers of each lot; shall state the date and address of
				  each sale; shall state the amount paid for each lot; and shall state the gross
				  amount of the commission earned by the agent for each lot
				  sold.
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 20 - Oklahoma Subdivided Land Sales Code › Subchapter 7 - Examinations › Section 660:20-7-1 - Expenses of on-site examination of subdivider

Current through Vol. 41, No. 20, July 1, 2024
Charges for an on-site examination of a subdivision conducted
				  by the Department pursuant to Section 627 of the Land Sales Act shall be paid
				  by the person being examined as set forth in Section 652 of the Land Sales
				  Act.
Amended at 9 Ok Reg
				  3011, eff 7-15-92
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 20 - Oklahoma Subdivided Land Sales Code › Subchapter 7 - Examinations › Section 660:20-7-2 - Expenses of examination of licensed agents

Current through Vol. 41, No. 20, July 1, 2024
Charges for an examination of the business and records of a
				  licensed agent shall be paid by the agent whose business is examined as set
				  forth in Section 652 of the Land Sales Act.
Amended at 9 Ok Reg
				  3011, eff 7-15-92
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 20 - Oklahoma Subdivided Land Sales Code › Subchapter 9 - Advertising Guidelines › Section 660:20-9-1 - Application of Land Sales Act

Current through Vol. 41, No. 20, July 1, 2024
Advertising pertaining to activities of or in a subdivision
				  for which a Registration Statement has been filed with the Department, such as
				  advertising materal on home construction, home sales, motels, industrial parks,
				  etc. used or employed by subdivider is subject to Department approval when it
				  pertains to the entire subdivision and will be used for the promotion or
				  disposition of land therein.
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 20 - Oklahoma Subdivided Land Sales Code › Subchapter 9 - Advertising Guidelines › Section 660:20-9-2 - Filing procedures

Current through Vol. 41, No. 20, July 1, 2024
(a)
Transmittal Letter.
Every advertisement submitted to the
				Department, either as a part of a Registration Statement or as a subsequent
				filing, shall be accompanied by a letter of transmittal which gives a brief,
				written description of each advertisement filed with the Department to assure
				that all future correspondence and orders concerning the advertisement will
				clearly identify the advertisement in question. The letter of transmittal shall
				be signed by the subdivider or his duly authorized representative and shall
				verify that the statements made and the representations contained therein have
				been reviewed and the advertisement is truthful and correct to the best of his
				knowledge and belief with regard to the statements contained therein.
(b)
Fee.
Each letter of
				transmittal shall be accompanied by payment of a fee in the amount of ten
				dollars ($10.00) payable to the Department.
(c)
Time of filing.
All
				advertising except advertising related to subdivided land or transactions
				exempt pursuant to Sections 622 and 623 of the Land Sales Act 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.
(d)
File number.
All advertising
				filed with the Department either with the original registration statement or by
				subsequent filing shall be assigned a number by the Department in order that
				the Department or the registrant may refer by the number to any specific piece
				of advertising. When advertising relates to more than one subdivision owned by
				the same person or entity, or different persons or entities, but being sold
				through a common sales agent, an identifying designation shall be assigned such
				materials but this designation shall not be construed to permit filings related
				to subdivisions or portions of subdivisions which are not registered with this
				Department.
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 20 - Oklahoma Subdivided Land Sales Code › Subchapter 9 - Advertising Guidelines › Section 660:20-9-3 - Approval or rejection of advertising

Current through Vol. 41, No. 20, July 1, 2024
(a)
Presumptive approval.
Where an order of rejection or investigation
				is not entered within ten (10) days of its receipt by this Department, the
				advertising will be deemed approved unless the applicant has consented in
				writing to a delay.
(b)
Rejection.
The rejection of any advertising material by the
				Administrator shall constitute final action and any correction or amendment to
				a subsequent filing of advertising material which has been disapproved must be
				resubmitted.
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 20 - Oklahoma Subdivided Land Sales Code › Subchapter 9 - Advertising Guidelines › Section 660:20-9-4 - Presumptions concerning advertising

Current through Vol. 41, No. 20, July 1, 2024
It will be presumed that:
(1) All advertising filed for approval will
				be used within 6 months of said filing, to offer for sale or to induce persons
				to acquire interest in the title to all lands which are described in or
				referred to in the material or supporting data filed with the Department unless
				express limitation is made.
(2) All
				advertising published, disseminated or broadcast by or in behalf of an owner or
				entity owning more than one subdivision is being used to offer lands in all
				subdivisions registered by such owner or entity unless express limitation is
				made by such owner or entity, to the Department or by the Department.
(3) All advertising published, disseminated
				by, or broadcast on behalf of a sales agent is being used to offer lands in all
				subdivisions for which said person is a sales agent unless an express
				limitation is made to or by the Department.
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 20 - Oklahoma Subdivided Land Sales Code › Subchapter 9 - Advertising Guidelines › Section 660:20-9-5 - Legend requirement

Current through Vol. 41, No. 20, July 1, 2024
The subdivider shall print on advertising material approved
				  for use the following legend: "OKLAHOMA OFFEREES SHOULD OBTAIN AN OKLAHOMA
				  PUBLIC OFFERING STATEMENT FROM THE DEVELOPER AND READ IT BEFORE SIGNING ANY
				  DOCUMENTS. THE OKLAHOMA SECURITIES COMMISSION NEITHER RECOMMENDS THE PURCHASE
				  OF THE PROPERTY NOR APPROVES THE MERITS OF THE OFFERING."
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 20 - Oklahoma Subdivided Land Sales Code › Subchapter 9 - Advertising Guidelines › Section 660:20-9-6 - Review of advertising

Current through Vol. 41, No. 20, July 1, 2024
When advertising is accepted for filing, the same, together
				  with all supporting data and facts discovered upon investigation or inquiry,
				  shall be examined by the designated personnel of the Department to determine
				  whether the same is ready for final review by the Administrator. If additional
				  information is needed before a determination can properly be entered by the
				  Department, it shall be the Division of Registrations' duty to see that any
				  matter requiring investigation is referred for investigation.
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 20 - Oklahoma Subdivided Land Sales Code › Subchapter 9 - Advertising Guidelines › Section 660:20-9-8 - Guidelines for advertising

Current through Vol. 41, No. 20, July 1, 2024
No precise rules to determine what material is misleading, or
				  that a plan of sale or development lacks adequate safeguards and assurances to
				  prospective purchasers, can be made which will be applicable in all situations.
				  Without any intent to limit its consideration or determination to the general
				  standards herein set forth and without any attempt to compel any particular
				  form or method of advertising, promotion, development or sale of subdivided
				  lands, the standards set forth in this Section are adopted as a guide to
				  persons preparing to file advertising material and to be used by Department
				  personnel in reviewing advertising materials submitted pursuant to Section 653
				  of the Land Sales Act.
(1)
General guidelines.
The following guidelines apply to all
				advertising or sales literature:
(A) Claims or
				representations contained in the advertising shall be accurate and
				provable.
(B) Advertising shall not
				misrepresent the facts or create misleading impressions.
(C) Advertising shall not use statements,
				photographs, or sketches portraying the use to which advertised land can be put
				unless the land can be put to such use without unreasonable cost.
(D) Advertising shall not make a derogatory
				or unfair reference to competitive developments or properties.
(E) Advertising shall not contain asterisks
				or any other reference symbol as a means of contradicting or substantially
				changing any previously made statement or as a means of obscuring material
				facts.
(F) Advertising shall not
				use names or trade styles which imply that they are nonprofit research
				organizations, public bureaus, groups, etc. when such is not the case.
				Advertising of such an organization shall be prohibited when the true nature of
				the plan of sale or ownership is misrepresented or concealed.
(G) Maps, plats or representations shall
				clearly indicate the estimated date that the development will be completed. If
				completion dates are over a period of years, then a series of shadings,
				outlines, or coding may be used to indicate estimated dates of
				completion.
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 20 - Oklahoma Subdivided Land Sales Code › Subchapter 9 - Advertising Guidelines › Section 660:20-9-9 - Approval of promotional plans

Current through Vol. 41, No. 20, July 1, 2024
(a)
Vacation certificates.
Vacation certification shall be submitted
				to the Department and shall meet the advertising standards in this Subsection.
				Any vacation certificate used must be submitted with component parts, i.e.,
				registration card, letter of congratulations, reservation form, confirmation
				form, signs, etc.
(1) The registration card
				will disclose eligibility requirements such as age limitation, affinity group,
				residency, marital status, proof of age, transportation, date of
				expiration.
(2) Letter of
				congratulations will contain seasonal charge, refund deposit, date of
				expiration, and cost of the certificate.
(3) The following must be prominently
				disclosed: "While on your vacation you will be invited to attend a land sales
				presentation by (name of subdeveloper) for its property registered by the state
				of Oklahoma. Attendance is/is not required to make this certificate valid."
				Certificates, advertising or other promotional material shall disclose the
				terms, conditions and prerequisites to use and enjoyment of a visitation
				program, including the following:
(A)
				Eligibility requirements such as age limitations, affinity groups, residency,
				marital status, proof of age.
(B)
				Statement indicating state taxes are not included.
(C) Statement indicating whether
				transporation, food, lodging or other incidental expenses are
				included.
(D) Statement from the
				vacation certificate holder containing the following:
I have read the terms and conditions and have understood them
				  fully.
Signed______________________
Prospective purchaser
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 25 - Oklahoma Business Opportunity Sales Act › Subchapter 1 - General Provisions › Section 660:25-1-1 - Purpose

Current through Vol. 41, No. 20, July 1, 2024
The rules of this Chapter have been adopted for the purpose
				  of carrying out the provisions of the Oklahoma Business Opportunity Sales Act
				  in compliance with Section 816 of that Act, including rules governing
				  disclosure documents, applications and reports and defining
				  terms.
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 25 - Oklahoma Business Opportunity Sales Act › Subchapter 1 - General Provisions › Section 660:25-1-2 - Statutory citations

Current through Vol. 41, No. 20, July 1, 2024
Citations to statutes in this Chapter refer to the most
				  recent codification of the Oklahoma Business Opportunity Sales Act, 71 O.S.,
				  Sections 801 through 827.
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 25 - Oklahoma Business Opportunity Sales Act › Subchapter 1 - General Provisions › Section 660:25-1-3 - Definitions

Current through Vol. 41, No. 20, July 1, 2024
Unless the context otherwise requires, or unless defined in
				  this Section, terms used in this Chapter, if defined in the Business
				  Opportunity Act, shall have the meaning as defined in the Business Opportunity
				  Act. The following words and terms, when used in this Chapter, shall have the
				  following meaning, unless the context clearly indicates otherwise.
"Business Opportunity Act"
means the most recent
				  codification of the Oklahoma Business Opportunity Sales Act in Title 71 of the
				  Oklahoma Statutes.
"Sales literature and advertising"
means
				  material published in, or designed for use in, a newspaper, magazine, or other
				  periodical, radio, television, telephone solicitation or tape recording,
				  videotape display, signs, billboards, motion pictures, telephone directories
				  (other than standard listings), other public media or any other written
				  communication distributed or made generally available to customers or the
				  public including but not limited to pamphlets, circulars, form letters, seminar
				  texts, research reports, surveys, performance reports or summaries and reprints
				  or excerpts of other sales literature or advertising to include publications in
				  electronic format.
"Sales literature or advertising package"
means
				  all submissions to the Administrator under one posting or delivery relating to
				  a specific business opportunity.
Amended at 15 Ok Reg
				  3450, eff 7-15-98
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 25 - Oklahoma Business Opportunity Sales Act › Subchapter 3 - Registration Requirements › Section 660:25-3-1 - Registration filing fee

Current through Vol. 41, No. 20, July 1, 2024
Every seller seeking registration of a business opportunity
				  shall pay the filing fee specified in Section 807.C of the Business Opportunity
				  Act.
Amended at 9 Ok Reg
				  3013, eff 7-15-92
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 25 - Oklahoma Business Opportunity Sales Act › Subchapter 3 - Registration Requirements › Section 660:25-3-2 - Renewal of registration and sales reports

Current through Vol. 41, No. 20, July 1, 2024
(a)
Renewal of registration.
In
				addition to filing a current disclosure document, all sellers seeking renewal
				of a registration shall submit a report indicating the total number of
				purchasers in the state of Oklahoma and the total amount of consideration
				received therefrom since the effective date of the initial registration. The
				renewal fee specified in Section 807.E of the Business Opportunity Act shall
				accompany each request for renewal of registration.
(b)
Post-registration sales
				reports.
All registrants shall submit sales reports to the
				Administrator. Each report shall be accompanied by the report filing fee
				specified in Section 807.E of the Business Opportunity Act and shall contain a
				statement of the total number of purchasers in the state of Oklahoma and the
				total amount of consideration received therefrom since the effective date of
				the initial registration. Said reports are due no later than six (6) months
				from the effective date of registration or the effective date of the renewal of
				a registration.
Amended at 9 Ok Reg
				  3013, eff 7-15-92
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 25 - Oklahoma Business Opportunity Sales Act › Subchapter 5 - Sales Literature or Advertising › Section 660:25-5-1 - Filing of sales literature

Current through Vol. 41, No. 20, July 1, 2024
(a)
Filing requirement.
All sales literature and advertising must be
				filed with and responded to by the Administrator prior to use. A filing shall
				include the sales literature or advertising package, the review fee specified
				in Section 807.F of the Business Opportunity Act and a representation by the
				seller that reads substantially as follows: "I hereby attest and affirm that
				the enclosed sales literature or advertising package contains no false or
				misleading statements or misrepresentations of material facts, and that all
				information contained therein is in conformity with the most recent disclosure
				document relating to the particular business opportunity offered thereby on
				file with the Administrator."
(b)
Exemption.
The disclosure document filed with the Administrator as
				part of the registration process pursuant to Section 806 of the Business
				Opportunity Act is exempted from the filing requirement specified in subsection
				(a) of this Section.
(c)
Content.
Sales literature and advertising used in any manner in
				connection with the offer and sale of business opportunities is subject to the
				provisions of Section 819 whether or not such sales literature and advertising
				is required to be filed pursuant to this rule. Furthermore, sales literature
				and advertising filed with the Administrator is subject to the provisions of
				Section 820 of the Business Opportunity Act.
(d)
Prohibited disclosure.
No
				sales literature or advertising shall contain a reference to the Oklahoma
				Securities Commission, the Oklahoma Department of Securities or the
				Administrator unless so requested by the Administrator.
Amended at 9 Ok Reg
				  3013, eff 7-15-92; Amended at 15 Ok Reg 3450, eff
				  7-15-98
Oklahoma Administrative Code › Title 660 - Department of Securities › Chapter 25 - Oklahoma Business Opportunity Sales Act › Subchapter 7 - Opinions › Section 660:25-7-1 - Interpretive opinion requests

Current through Vol. 41, No. 20, July 1, 2024
The Administrator in his discretion may honor requests from
				  interested persons for interpretive opinions or no-action positions relating to
				  a specific factual circumstance with respect to the Business Opportunity Act or
				  any rule or statement of policy adopted thereunder. Requests relating to
				  unnamed entities or persons or to hypothetical situations will not warrant a
				  response. Such requests shall be in writing, shall set out all the facts
				  necessary to reach a conclusion in the matter and shall be accompanied by the
				  fee specified in Section 817.D of the Business Opportunity Act. Each request
				  should also be accompanied by a signed opinion of legal counsel which states
				  counsel's opinion in the matter, which may be expressed tentatively or
				  conditioned upon concurrence by the Administrator, and the basis
				  therefor.
Amended at 9 Ok Reg
				  3013, eff 7-15-92; Amended at 15 Ok Reg 3450, eff
				  7-15-98
Oklahoma Administrative Code › Title 675 - State Board of Licensed Social Workers › Chapter 1 - Administrative Operations › Section 675:1-1-1.1 - Definitions

Current through Vol. 41, No. 20, July 1, 2024
For purposes of this title, the following words and terms shall have the following meaning unless the context clearly indicates otherwise:
"Educational supervision"
means face to face interaction between the supervisor and supervisee. Face to face supervision does not include interaction through electronic means unless said interaction is approved by the Board on a case by case basis prior to the supervision.
"LCSW"
means licensed clinical social worker.
"LMSW"
means licensed masters social worker.
"LSW"
means licensed social worker.
"LSW-Adm"
means licensed social worker with a specialty of administration.
"LSWA"
means licensed social worker associate.
"Assessment"
means the gathering of data about emotional, behavioral, mental, environmental, biopsychosocial, and interactional processes gathered in an effort to identify the client's past and current level of functioning. Assessment may also include the use of standardized psychometric testing instruments upon successful completion of appropriate, specialized courses or training.
Added at 21 Ok Reg 250, eff 11-14-03 (emergency); Added at 21 Ok Reg 1812, eff 7-1-04; Amended at 29 Ok Reg 35, eff 11-1-11 (emergency); Amended at 29 Ok Reg 1728, eff 7-26-12
Oklahoma Administrative Code › Title 675 - State Board of Licensed Social Workers › Chapter 1 - Administrative Operations › Section 675:1-1-3 - Makeup of Board

Current through Vol. 41, No. 20, July 1, 2024
There shall be seven (7) members of the Board. Three of the members of the Board shall be licensed social workers or licensed clinical social workers licensed under this law. Two other members shall be licensed social work associates and/or licensed masters social workers. One member shall be the president of the Oklahoma Chapter of the National Association of Social Workers. The remaining member of the Board shall be selected from and shall represent the general public.
Amended at 21 Ok Reg 250, eff 11-14-03 (emergency); Amended at 21 Ok Reg 1812, eff 7-1-04
Oklahoma Administrative Code › Title 675 - State Board of Licensed Social Workers › Chapter 1 - Administrative Operations › Section 675:1-1-4 - Officers of the Board

Current through Vol. 41, No. 20, July 1, 2024
The Oklahoma State Board of Licensed Social Workers shall elect a chairman, vice-chairman, and secretary. Election of officers will occur on a biennial basis.
Amended at 21 Ok Reg 250, eff 11-14-03 (emergency); Amended at 21 Ok Reg 1812, eff 7-1-04; Amended at 29 Ok Reg 35, eff 11-1-11 (emergency); Amended at 29 Ok Reg 1728, eff 7-26-12
Oklahoma Administrative Code › Title 675 - State Board of Licensed Social Workers › Chapter 1 - Administrative Operations › Section 675:1-1-5 - Executive Secretary [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 16 Ok Reg 1632, eff 5-27-99; Revoked at 21 Ok Reg 250, eff 11-14-03 (emergency); Revoked at 21 Ok Reg 1812, eff 7-1-04
Oklahoma Administrative Code › Title 675 - State Board of Licensed Social Workers › Chapter 1 - Administrative Operations › Section 675:1-1-6 - Consultant(s) to the Board

Current through Vol. 41, No. 20, July 1, 2024
Consultant(s) shall be appointed by the Board to assist in carrying out duties as needs for such Consultant(s) are defined. Appropriate compensation may be set for reimbursement of the cost of such consultation.
Oklahoma Administrative Code › Title 675 - State Board of Licensed Social Workers › Chapter 1 - Administrative Operations › Section 675:1-1-8 - Meeting dates

Current through Vol. 41, No. 20, July 1, 2024
The Board shall meet at least once every three months and shall be available for called meetings at the pleasure of the Chairman or by a quorum of four members. Meetings shall be in accordance with the provisions of the Open Meeting Law for the State of Oklahoma.
Amended at 21 Ok Reg 250, eff 11-14-03 (emergency); Amended at 21 Ok Reg 1812, eff 7-1-04
Oklahoma Administrative Code › Title 675 - State Board of Licensed Social Workers › Chapter 3 - Individual Proceedings › Section 675:3-1-1 - Purpose

Current through Vol. 41, No. 20, July 1, 2024
The purpose of this Chapter is to set forth the procedures of the Board used in the investigations of and hearings held for complaints and for individual proceedings.
Added at 21 Ok Reg 251, eff 11-14-03 (emergency); Added at 21 Ok Reg 1813, eff 7-1-04