Okla. Stat. tit. 59, § 59-2008: Change in ownership - Bond or letter of credit

For purposes of the Oklahoma Health Spa Act, a health spa shall

be considered a new health spa and subject to the requirements of a

bond or letter of credit at the time the health spa changes

ownership. A change in ownership shall not release, cancel or

terminate liability under any bond or letter of credit previously

filed unless the Administrator agrees in writing to such release,

cancellation or termination because the new owner has filed a new

bond or letter of credit for the benefit of the previous owner's

members or because the former owner has refunded all unearned

payments to its members.