Oklahoma Statutes
Title 71. Securities
§71-818. Application of act - Offer to sell, communication thereof and acceptance - Service of process and agent therefor.

A. The provisions of the Oklahoma Business Opportunity Sales Act concerning sales and offers to sell apply to persons who sell or offer to sell when:

1. An offer to sell is made in this state;
2. An offer to purchase is made and accepted in this state; or
3. The purchaser is domiciled in this state and the business opportunity is or will be operated in this state.
B. For the purpose of this section, an offer to sell is made in this state, whether or not either party is then present in this state, when:
1. The offer originates from this state; or
2. The offer is directed by the offeror to this state and received at the place to which it is directed or at any post office in this state in the case of a mailed offer.
C. For the purpose of this section, an offer to sell is accepted in this state when acceptance:
1. Is communicated to the offeror in this state; and
2. Has not previously been communicated to the offeror, orally or in writing, outside this state; and acceptance is communicated to the offeror in this state, whether or not either party is then present in this state when the offeree directs it to the offeror in this state reasonably believing the offeror to be in this state and it is received at the place to which it is directed or at any post office in this state in the case of a mailed acceptance.
D. An offer to sell is not made in this state when:
1. The publisher circulates or there is circulated on his or her behalf in this state any bona fide newspaper or other publication of general, regular and paid circulation which is not published in this state, or which is published in this state but has had more than two-thirds (2/3) of its circulation outside this state during the past twelve (12) months; or
2. A radio or television program originating outside this state is received in this state.
E. Every seller shall file with the Administrator, in such form as the Administrator may prescribe, an irrevocable consent appointing the Administrator or the Administrator’s successor in office to be the seller’s agent to receive service of any lawful process in any noncriminal suit, action, or proceeding against the seller or the seller’s successor, executor, or administrator that arises under the Oklahoma Business Opportunity Sales Act or any rule or order hereunder after the consent has been filed, with the same force and validity as if served personally on the person filing the consent. Service on the Administrator may be made by leaving a copy of the process in the office of the Administrator, but is not effective unless:
1. The plaintiff, who may be the Administrator, in a suit, action, or proceeding instituted by the plaintiff, promptly sends notice of the service and a copy of the process by certified mail, return receipt requested and delivery restricted to the addressee, to the defendant or respondent at the defendant’s or respondent’s last address on file with the Administrator; and
2. The plaintiff’s affidavit of compliance with this subsection is filed in the suit, action or proceeding on or before the return date of the process, if any, or within such further time as the court, or the Administrator in a proceeding before the Administrator, allows.
F. When any person, including any nonresident of this state, engages in conduct prohibited or made actionable by the Oklahoma Business Opportunity Sales Act or any rule or order hereunder, and the person has not filed a consent to service of process under subsection E of this section, that conduct shall be considered equivalent to the person's appointment of the Administrator or the Administrator's successor in office to be the person's agent to receive service of any lawful process in any noncriminal suit, action or proceeding against the person or the person's successor, executor or administrator which grows out of that conduct and that is brought pursuant to the Oklahoma Business Opportunity Sales Act or any rule or order hereunder with the same force and validity as if served on the person personally. Service on the Administrator may be made by leaving a copy of the process in the office of the Administrator, and it is not effective unless:
1. The plaintiff, who may be the Administrator in a suit, action or proceeding instituted by the Administrator, promptly sends notice of the service and a copy of the process by certified mail, return receipt requested and delivery restricted to the addressee, to the defendant or respondent at the defendant's or respondent's last-known address or takes other steps that are reasonably calculated to give actual notice; and
2. The plaintiff's affidavit of compliance with this subsection is filed in the suit, action, or proceeding on or before the return day of the process, if any, or within such further time as the court, or the Administrator in a proceeding before the Administrator, allows.
G. Service by mail shall be effective on the date of receipt by the defendant or respondent or, if refused, on the date of refusal by the defendant or respondent. Acceptance or refusal of service by mail by a person who is fifteen (15) years of age or older shall constitute acceptance or refusal by the party addressed. Acceptance or refusal by any officer or by any employee of the registered office or principal place of business who is authorized to or who regularly receives certified mail shall constitute acceptance or refusal by the party addressed. A return receipt signed at such registered office or principal place of business shall be presumed to have been signed by an employee authorized to receive certified mail.
H. Refusal by any person to accept delivery of the certified mail provided for in this section, or the refusal to sign the return receipt, or the lack of knowledge of the Administrator of any address to which process may have been mailed, shall not in any manner affect the legality of the service, and the person shall be presumed to have had knowledge of the contents of the process.
I. Service as provided for in subsection E or F of this section may be used in a suit, action, or proceeding before the Administrator, or by the Administrator where the Administrator is the moving party. When process is served under this section, the court, or the Administrator in a proceeding before the Administrator, shall order such continuance as may be necessary to afford the defendant or respondent reasonable opportunity to defend.
Added by Laws 1985, c. 157, § 18, eff. Nov. 1, 1985. Amended by Laws 1997, c. 279, § 30, eff. July 1, 1997; Laws 1999, c. 109, § 22, eff. July 1, 1999.

Structure Oklahoma Statutes

Oklahoma Statutes

Title 71. Securities

§71-1-101. Short title.

§71-1-102. Definitions.

§71-1-103. References to federal statutes.

§71-1-104. References to federal agencies.

§71-1-105. Electronic records and signatures.

§71-1-201. Exempt securities.

§71-1-202. Exempt transactions.

§71-1-203. Additional exemptions and waivers.

§71-1-204. Denial, suspension of application, revocation, condition, or limitation of exemptions.

§71-1-301. Securities registration requirement.

§71-1-302. Federal covered security – Notice filing.

§71-1-303. Securities registration by coordination.

§71-1-304. Securities registration by qualification.

§71-1-305. Registration filings.

§71-1-306. Denial, suspension, or revocation of effectiveness of registration statement.

§71-1-307. Waiver or modification.

§71-1-308. Investment certificate issuers - Registration requirements.

§71-1-401. Broker-dealer registration requirement and exemptions.

§71-1-402. Agent registration requirement and exemptions.

§71-1-403. Investment adviser registration requirement and exemptions.

§71-1-404. Investment adviser representative registration requirement and exemptions.

§71-1-405. Federal covered investment adviser registration requirement and exemptions.

§71-1-406. Registration application - Time of becoming effective.

§71-1-407. Succession and change in registration of broker-dealer or investment adviser.

§71-1-408. Termination of employment or association of agent and investment adviser representative - Transfer of employment or association.

§71-1-409. Withdrawal of registration of broker-dealer, agent, investment adviser, and investment adviser representative.

§71-1-410. Postregistration requirements.

§71-1-411. Denial, revocation, suspension, withdrawal, restriction, condition, or limitation of registration.

§71-1-501. General fraud.

§71-1-502. Prohibited conduct in providing investment advice.

§71-1-503. Evidentiary burden.

§71-1-504. Filing of sales and advertising literature.

§71-1-505. Misleading filings.

§71-1-506. Misrepresentations concerning registration or exemption.

§71-1-507. Qualified immunity.

§71-1-508. Violations - Criminal penalties - Administrative fines.

§71-1-509. Civil liability.

§71-1-510. Rescission offers.

§71-1-601. Administration.

§71-1-602. Investigations and subpoenas.

§71-1-603. Civil enforcement.

§71-1-604. Administrative enforcement.

§71-1-605. Rules, forms, orders, interpretative opinions, and hearings.

§71-1-606. Administrative files and opinions.

§71-1-607. Public records - Confidentiality.

§71-1-608. Uniformity and cooperation with other agencies.

§71-1-609. Commission review of order - Judicial review.

§71-1-610. Jurisdiction.

§71-1-611. Service of process.

§71-1-612. Fees.

§71-1-613. Availability of data for supervision of personnel - Sharing of data - Confidentiality.

§71-1-701. Application of act to existing proceedings and rights.

§71-414. Definitions.

§71-415. Public announcement of take-over bid - Filing of required information - Hearings - Information to be filed - Costs.

§71-416. Statutory procedure must be followed.

§71-417. Discrimination prohibited.

§71-418. Copies of information to be filed with certain regulatory bodies.

§71-419. Liabilities, remedies and penalties.

§71-420. Rules and regulations.

§71-421. Exemptions.

§71-451. Short title.

§71-452. Definitions.

§71-453. Effective take-over offer required - Registration statement - Suspension of take-over offer and hearing.

§71-454. Solicitation materials - Filing - Prohibited use.

§71-455. Fraudulent, deceptive and manipulative acts prohibited.

§71-456. Actions of offeror - Limitations.

§71-457. Powers of Administrator - Rules and forms - Exemptions from act.

§71-458. Registration fee.

§71-459. Violations - Cease and desist orders - Injunctions.

§71-460. Violations - Penalty - Evidence.

§71-461. Liability of offeror - Rights and remedies of seller.

§71-462. Application of provisions of Oklahoma Securities Act.

§71-601. Citation.

§71-602. Definitions.

§71-621. Registration - Violations.

§71-622. Exemptions.

§71-623. Additional exemptions.

§71-624. Burden of proof.

§71-625. Application for registration.

§71-626. Public offering statements - Contents - Violations - Uses.

§71-627. Orders - Application for registration - Filing of documents and information.

§71-628. Denial of effectiveness to, suspension or revocation of effectiveness of registration.

§71-631. License required - Exemption.

§71-633. Records - Copies - Inspection - Rules.

§71-641. Fraud - Penalty.

§71-642. Liens and encumbrances.

§71-643. Contracts - Voiding - Rescinding - Revoking.

§71-644. Notice to purchaser - Signatures - Rescission of contract.

§71-651. Administration of Code - Personal use of information - Privileges and immunities.

§71-652. Fees - Disposition.

§71-653. Advertising.

§71-654. Fraud - Filing of documents and information.

§71-655. Presumptions - Fraud - Violations.

§71-656. Power and duties of Administrator.

§71-657. Injunctions - Intervention in suits involving subdivided land.

§71-658. Violation of Code - Fine.

§71-659. Liability to purchaser - Persons liable - Limitation of actions.

§71-660. Summary prohibition of offers or dispositions.

§71-661. Review of orders.

§71-662. Rules, forms and orders - Making, amending or rescinding - Exemption from liability.

§71-663. Filing of documents - Register - Inspection - Copies - Interpretative opinions.

§71-664. Consent to service of process - Service.

§71-665. Dispositions and offers - Application of law - Acceptance.

§71-666. Liens and encumbrances.

§71-667. Construction of act.

§71-801. Short title.

§71-802. Definitions.

§71-803. Exemptions.

§71-804. Denial or revocation of exemption - Orders and violation thereof.

§71-805. Burden of proving exemption.

§71-806. Certain sales unlawful.

§71-807. Registration procedure.

§71-808. Disclosure document.

§71-809. Contracts or agreements required - Contents.

§71-810. Suspension or revocation of registration - Grounds - Procedure.

§71-811. Minimum net worth requirement.

§71-812. Administration of act - Use of disclosure of information.

§71-813. Investigations and proceedings - Powers and duties of Administrator.

§71-814. Violation of act - Orders - Penalties.

§71-815. Review of orders.

§71-816. Rules, forms and orders - Making, amending and rescinding.

§71-817. Document filed when received by Administrator - Register of applications and orders - Disclosure - Interpretive opinions.

§71-818. Application of act - Offer to sell, communication thereof and acceptance - Service of process and agent therefor.

§71-819. Fraud or deceit unlawful.

§71-820. False or misleading statements unlawful.

§71-821. Conclusiveness of filed document.

§71-822. Misleading advertising unlawful.

§71-823. Violations - Penalty - Criminal prosecutions.

§71-824. Violations - Civil actions.

§71-825. Aiding and abetting violation.

§71-826. Limitation of actions - Remedies not exclusive - Waiver of compliance, duty or liability void.

§71-827. Construction of act.

§71-828. Oklahoma Securities Act - Application.

§71-829. Fees and charges - Deposits.

§71-901. Short title.

§71-902. Definitions.

§71-903. Rules governing registration in beneficiary form.

§71-904. Applicable law.

§71-905. Origination of registration in beneficiary form.

§71-906. Form of registration.

§71-907. Effect of registration.

§71-908. Ownership on death - Rights of creditors.

§71-909. Protections for registering entity.

§71-910. Nonprobate transfer - Liability of transferees.

§71-911. Terms, conditions and form for registration.

§71-912. Construction.

§71-913. Application.