{"data":{"id":"us-ok/okla.-stat.-tit.-17-17-158.52","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 17, § 17-158.52","heading":"Statement - Contents - Oath or affirmation -","body":"Amendments.\n\nA. The statement to be filed with the Corporation Commission as\n\nrequired by Section 2 of this act shall be made under oath or\n\naffirmation and shall contain the following information:\n\n1. The name and address of each acquiring party and all\n\naffiliates thereof; and\n\na. if such acquiring party is an individual, his\n\nprincipal occupation and all offices and positions\n\nheld during the past five (5) years, and any\n\nconviction of crimes other than minor traffic\n\nviolations during the past ten (10) years, or\n\nb. if such acquiring party is not an individual, a\n\nreport of the nature of its business and its\n\naffiliates' operations during the past five (5) years\n\nor for such lesser period as such acquiring party and\n\nany predecessors thereof shall have been in\n\nexistence; an informative description of the business\n\nintended to be done by such acquiring party and its\n\nsubsidiaries; and a list of all individuals who are\n\nor who have been selected to become directors or\n\nofficers of such acquiring party, or who perform or\n\nwill perform functions appropriate or similar to such\n\npositions. Such list shall include for each such\n\nindividual the information required by subparagraph a\n\nof paragraph 1 of this subsection;\n\n2. The source, nature and amount of the consideration used or\n\nto be used in effecting the acquisition of control, a detailed\n\ndescription of any transaction wherein funds were or are to be\n\nobtained for any such purpose, and the identity of persons\n\nfurnishing such consideration; provided, however, that where a\n\nsource of such consideration is a loan made in the lender's ordinary\n\ncourse of business, the identity of the lender shall remain\n\nconfidential, if the person filing such statement so requests;\n\n3. Audited financial information in a form acceptable to the\n\nCommission as to the financial condition of an acquiring party for\n\nthe preceding three (3) fiscal years of each such acquiring party,\n\nor for such lesser period as such acquiring party and any\n\npredecessors thereof shall have been in existence, and similar\n\ninformation as of a date not earlier than one hundred thirty-five\n\n(135) days prior to the filing of the statement;\n\n4. Any plans or proposals which an acquiring party may have to\n\nliquidate such rural electric cooperative, to sell its assets or a\n\nsubstantial part thereof, or merge or consolidate it with any\n\nperson, or to make any other material change in its investment\n\npolicy, business or corporate structure, or management. If any\n\nchange is contemplated in the investment policy, or business or\n\ncorporate structure, such contemplated changes and the rationale\n\ntherefor shall be explained in detail. If any changes in the\n\nmanagement of the rural electric cooperative are contemplated, the\n\nacquiring party shall provide a resume of the qualifications and the\n\nnames and addresses of the individuals who have been selected or are\n\nbeing considered to replace the then current management personnel of\n\nthe rural electric cooperative;\n\n5. Copies of all offers for, exchange offers for, and\n\nagreements to acquire or exchange any assets and, if distributed, of\n\nadditional soliciting material relating thereto;\n\n6. Documentation from any and all mortgagors which hold a\n\nmortgage on any plant or equipment of such rural electric\n\ncooperative setting forth such mortgagors approval of such proposed\n\nacquisition of control; and\n\n7. Such additional information as the Commission may by rule\n\nor regulation prescribe as necessary or appropriate for the\n\nprotection of ratepayers of the rural electric cooperative or in the\n\npublic interest.\n\nB. If a person required to file the statement referred to in\n\nSection 2 of this act is a partnership, limited partnership,\n\nsyndicate or other group, the Commission may require that the\n\ninformation called for in paragraphs 1 through 7 of subsection A of\n\nthis section shall be given with respect to each partner of such\non of ratepayers of the rural electric cooperative or in the\n\npublic interest.\n\nB. If a person required to file the statement referred to in\n\nSection 2 of this act is a partnership, limited partnership,\n\nsyndicate or other group, the Commission may require that the\n\ninformation called for in paragraphs 1 through 7 of subsection A of\n\nthis section shall be given with respect to each partner of such\n\npartnership or limited partnership, each member of such syndicate or\n\ngroup and each person who controls such partner or member. If any\n\nsuch partner, member, person or acquiring party is a corporation or\n\nif a person required to file the statement referred to in Section 2\n\nof this act is a corporation, the Commission may require that the\n\ninformation called for by paragraphs 1 through 7 of subsection A of\n\nthis section be given with respect to such corporation, each officer\n\nand director of such corporation.\n\nC. If any material change occurs in the facts set forth in the\n\nstatement filed with the Commission and sent to such rural electric\n\ncooperative pursuant to this act, an amendment setting forth such\n\nchange, together with copies of all documents and other material\n\nrelevant to such change, shall be filed with the Commission and sent\n\nby the person filing the statement to the rural electric cooperative\n\nwithin two (2) business days after such person learns of such\n\nchange.","path":["OK Code","Title 17"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os17.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"77ad8282de17ee6ce4a06fe84150d899987f79bc5bfc8c3334ca3fe71a6e3f03","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-17-17-158.51","next":"us-ok/okla.-stat.-tit.-17-17-158.53"},"notice":"GroundRules: Original legal text. Not legal advice."}