Okla. Stat. tit. 62, § 62-282: Definitions - Debtor municipal corporation - Creditor

municipal corporation.

For the purpose of this Act, a debtor municipal corporation

hereunder is hereby defined as a municipal corporation or other

political subdivision of this state which is insolvent or unable to

meet its debts as they mature. A creditor municipal corporation

hereunder is defined as being a municipal corporation or other

political subdivision of this state which holds or owns bonds,

warrants or securities of a debtor municipal corporation of this

state.