{"data":{"id":"us-ok/okla.-stat.-tit.-12-12-1560","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12, § 12-1560","heading":"Foreclosure of licensed medical marijuana business –","body":"Continuation of operations.\n\nA. In the event that a licensed medical marijuana dispensary,\n\ncommercial grower or processor is foreclosed, is the subject of an\n\norder appointing a receiver, becomes insolvent, bankrupt or\n\notherwise ceases operations, a secured party or receiver may\n\ncontinue operations at the dispensary, grower or processor upon\n\nsubmitting to the Oklahoma Medical Marijuana Authority, State\n\nDepartment of Health, proof that the secured party or receiver, or\n\nif the secured party or receiver is a business entity, any\n\nindividual who has a financial interest in the secured party or\n\nreceiver, meets the requirements and restrictions set forth in:\n\n1. For licensed medical marijuana dispensaries, Section 421 of\n\nTitle 63 of the Oklahoma Statutes;\n\n2. For licensed commercial medical marijuana growers, Section\n\n422 of Title 63 of the Oklahoma Statutes; or\n\n3. For licensed medical marijuana processors, Section 423 of\n\nTitle 63 of the Oklahoma Statutes.\n\nThe Authority may prescribe the form and manner of submitting\n\nproof under this subsection. Neither the state nor agency of this\n\nstate shall require an additional fee from the secured party or\n\nreceiver, other than payment of annual fees which may become due\n\nduring the operation by the secured party or receiver.\n\nB. Subject to the requirements of subsection A of this section,\n\nthe Oklahoma Medical Marijuana Authority, State Department of\n\nHealth, shall promulgate rules for the manner and conditions under\n\nwhich:\n\n1. Marijuana items left by a deceased, insolvent or bankrupt\n\nperson or licensee, or subject to a security interest or a court\n\norder appointing a receiver, may be foreclosed, sold under execution\n\nor otherwise disposed whether by foreclosure or by sale as a going\n\nconcern;\n\n2. The business of a licensee who is deceased, insolvent,\n\nbankrupt, or the subject of an order appointing receiver or a\n\nforeclosure by a secured party, may be operated for a reasonable\n\nperiod following the death, insolvency, appointment of a receiver or\n\nbankruptcy; and\n\n3. A secured party or court-appointed receiver may continue to\n\noperate a business for which a license has been issued under Section\n\n421, 422 or 423 of Title 63 of the Oklahoma Statutes for a\n\nreasonable period after default on the indebtedness by the debtor or\n\nafter the appointment of the receiver.","path":["OK Code","Title 12"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os12.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"0a6a66342a96b42b1816b8043b1f954e6a4b36daa5b1ad9dd94bd54c895a6b9c","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12-12-1559","next":"us-ok/okla.-stat.-tit.-12-12-1571"},"notice":"GroundRules: Original legal text. Not legal advice."}