Okla. Stat. tit. 59, § 59-858-102: Definitions

When used in this Code, unless the context clearly indicates

otherwise, the following words and terms shall be construed as

having the meanings ascribed to them in this section:

1. The term “real estate” shall include any interest or estate

in real property, within or without the State of Oklahoma, whether

vested, contingent or future, corporeal or incorporeal, freehold or

nonfreehold, and including leaseholds, options and unit ownership

estates to include condominiums, time-shared ownerships and

cooperatives; provided, however, that the term real estate shall not

include oil, gas or other mineral interests, or oil, gas or other

mineral leases; and provided further, that the provisions of this

Code shall not apply to any oil, gas, or mineral interest or lease

or the sale, purchase or exchange thereof;

2. The term “broker” shall include any person, partnership,

limited liability company, association, corporation, or business

entity, foreign or domestic, who for a fee, commission, or other

valuable consideration, or who with the intention or expectation of

receiving or collecting a fee, commission, or other valuable

consideration, performs any of the following acts:

a. sells, exchanges, purchases, rents, or leases real

estate,

b. offers to sell, exchange, purchase, rent, or lease

real estate,

c. negotiates or attempts to negotiate the listing, sale,

exchange, purchase, rent, or lease of real estate,

d. lists or offers, attempts, or agrees to list real

estate for sale, exchange, rent or lease,

e. auctions or offers, attempts, or agrees to auction

real estate,

f. controls the acceptance or deposit of rent from a

resident of a single-family residential real property

unit,

g. solicits listings of places for rent or lease,

h. solicits for prospective tenants, purchasers, or

sellers, or

i. advertises or holds himself or herself out as engaged

in such activities;

3. The term “broker associate” shall include any person who has

qualified for a license as a broker associate, and who is employed

or engaged by, associated as an independent contractor with, or on

behalf of and with the permission of a broker to perform any act set

out in the definition of a broker;

4. The term “business day” means any calendar day except for

Saturday, Sunday, or any public holiday recognized by state or

federal law;

5. The term “contract” means any agreement or arrangement,

including power of attorney, for the purchase, sale, or assignment

of real estate;

6. The term “homeowner” means any individual, entity, trust, or

partnership holding title to residential property;

7. The term “real estate sales associate” shall include any

person having a renewable license and employed or engaged by, or

associated as an independent contractor with, or on behalf of, a

broker to do or deal in any act, acts or transactions set out in the

definition of a broker;

8. “Provisional sales associate” shall include any person who

has been licensed after June 30, 1993, employed or engaged by, or

associated as an independent contractor with, or on behalf of, a

broker to do or deal in any act, acts or transactions set out in the

definition of a broker and subject to an additional forty-five-

clock-hour postlicensing educational requirement to be completed

within the first twelve-month license term. However, the Oklahoma

Real Estate Commission shall promulgate rules for those persons

called into active military service for purposes of satisfying the

postlicensing educational requirement. The license of a provisional

sales associate shall be nonrenewable unless the postlicensing

requirement is satisfied prior to the expiration date of the

license. Further, the terms sales associate and provisional sales

associate shall be synonymous in meaning except where specific

exceptions are addressed in the Oklahoma Real Estate License Code;

ng the

postlicensing educational requirement. The license of a provisional

sales associate shall be nonrenewable unless the postlicensing

requirement is satisfied prior to the expiration date of the

license. Further, the terms sales associate and provisional sales

associate shall be synonymous in meaning except where specific

exceptions are addressed in the Oklahoma Real Estate License Code;

9. The term “successful completion” shall include prelicense,

postlicense, and distance education courses in which an approved

public or private school entity has examined the individual, to the

satisfaction of the entity and standards as established by the

Commission, in relation to the course material presented during the

offering;

10. The term “renewable license” shall refer to a broker,

broker associate or sales associate who is a holder of such license

or to a provisional sales associate who has completed the

educational requirements within the required time period as stated

in the Code;

11. The term “nonrenewable license” shall refer to a

provisional sales associate who is the holder of such license and

who has not completed the postlicense educational requirement within

the required time period as stated in the Code;

12. The term “surrendered license” shall refer to a real estate

license which is surrendered, upon the request of the licensee, due

to a pending investigation or disciplinary proceedings;

13. The term “canceled license” shall refer to a real estate

license which is canceled, upon the request of the licensee and

approval of the Commission, due to a personal reason or conflict;

14. The term “publicly market” shall include all advertisements

and marketing conducted in a public or open manner or place;

15. “Licensee” shall include any person who performs any act,

acts or transactions set out in the definition of a broker and

licensed under the Oklahoma Real Estate License Code;

16. The word “Commission” shall mean the Oklahoma Real Estate

Commission;

17. The word “person” shall include and mean every individual,

partnership, association or corporation, foreign or domestic;

18. Masculine words shall include the feminine and neuter, and

the singular includes the plural;

19. The word “associate” shall mean a broker associate, sales

associate or provisional sales associate; and

20. The term “wholesaler” means any individual or entity

engaging in the business of securing, negotiating, or facilitating

the sale of residential real estate for the primary purpose of

transferring, assigning, or selling their equitable interest in the

property, directly or indirectly, for financial profit. This

includes any person or entity that:

a. enters into a contract to purchase residential real

estate with the intent of assigning or selling the

contractual rights to another party before taking

possession or legal ownership of such residential real

estate, and

b. engages in double closing. As used in this paragraph,

“double closing” means the wholesaler simultaneously

closes two separate transactions on the same property,

one with the original seller and one with the end

buyer, without the intent to reside in or otherwise

materially improve such residential real estate.