Okla. Stat. tit. 70, § 70-6014: Tax exemptions and deductions - Sale or transfer of

advance tuition contracts.

A. The property of the Trust and its income and operation shall

be exempt from all taxation by this state or any of its political

subdivisions.

B. The purchaser may deduct from taxable income the amount of

payment made under an advance tuition payment contract during the

tax year.

C. An advance tuition payment contract is not a security

subject to regulation by the state. An advance tuition contract may

not be sold or otherwise transferred by the purchaser or qualified

beneficiary without the prior approval of the Regents.