{"data":{"id":"us-ok/okla.-stat.-tit.-17-17-191.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 17, § 17-191.1","heading":"Definitions","body":"As used in this act:\n\n1. \"Acquiring party\" means a person and all affiliates thereof\n\nby whom or on whose behalf a merger or other acquisition of control\n\nreferred to in Section 191.2 of this title is to be effected;\n\n2. \"Affiliate\" means a person who directly, or indirectly\n\nthrough one or more intermediaries, controls, or is controlled by,\n\nor is under common control with, the person specified, including any\n\ncorporation created at the direction of the person specified for\n\npurposes of corporate reorganization;\n\n3. \"Commission\" means the Oklahoma Corporation Commission;\n\n4. \"Control\" (including the terms \"controlling\", \"controlled\n\nby\", and \"under common control with\") means the possession, direct\n\nor indirect, of the power to direct or cause the direction of the\n\nmanagement and policies of a person, whether through the ownership\n\nof voting securities, by contract, or otherwise, unless such power\n\nis the result of an official position with, or corporate office held\n\nin, such person. Control shall be presumed to exist if any person,\n\ndirectly or indirectly, owns, controls, holds with the power to\n\nvote, or holds proxies representing ten percent (10%) or more of the\n\naggregate number of the voting securities of any other person. This\n\npresumption may be rebutted by a showing that control does not exist\n\nin fact. The Commission may determine, after furnishing all persons\n\nin interest notice and opportunity to be heard and making specific\n\nfindings of fact to support such determination, that control exists\n\nin fact, notwithstanding the absence of a presumption to that\n\neffect;\n\n5. \"Domestic public utility\" means a person doing business in\n\nthe state, any substantial portion of the revenues of which, either\n\ndirectly or indirectly, are derived from the business of providing\n\nutility service in this state, except that such term does not\n\ninclude agencies, authorities or instrumentalities of the United\n\nStates or a state or political subdivision of a state;\n\n6. “Foreign public utility” means a person that is not a\n\ndomestic public utility that is engaged in the production,\n\ntransmission, delivery, or furnishing of heat, light, power, or\n\nnatural gas to the public in another state of the United States or\n\nin the District of Columbia, and whose rates for the furnishing of\n\nheat, light, power, or natural gas to the public in another state or\n\nthe District of Columbia are subject to the approval of an agency of\n\nsuch other state or the District of Columbia;\n\n7. “Holding company” means any of the following:\n\na. any person which, in any chain or successive\n\nownership, directly or indirectly, as a beneficial\n\nowner, owns, controls or holds ten percent (10%) or\n\nmore of the outstanding voting securities of a\n\ndomestic public utility, with the unconditional power\n\nto vote such securities, or\n\nb. any person which the Commission determines, after\n\ninvestigation and hearing, directly or indirectly,\n\nexercises, alone or under any arrangement or\n\nunderstanding with one or more persons, such a\n\ncontrolling interest over the management or policies\n\nof a domestic public utility as to make it necessary\n\nor appropriate in the public interest or for the\n\nprotection of the consumers or investors of the\n\nutility that such person be subject to this act;\n\n8. \"Issuer\" means any person who issues or proposes to issue\n\nany security;\n\n9. “Nonutility company” means a person that is not a holding\n\ncompany, a domestic public utility, or a foreign public utility;\n\n10. \"Person\" means an individual, a corporation, a partnership,\n\nan association, a limited liability company, a joint stock company,\n\na trust, an unincorporated organization, any similar entity or any\n\ncombination of the foregoing acting in concert, but shall not\n\ninclude any securities broker performing no more than the usual and\n\ncustomary broker's function;\ntility, or a foreign public utility;\n\n10. \"Person\" means an individual, a corporation, a partnership,\n\nan association, a limited liability company, a joint stock company,\n\na trust, an unincorporated organization, any similar entity or any\n\ncombination of the foregoing acting in concert, but shall not\n\ninclude any securities broker performing no more than the usual and\n\ncustomary broker's function;\n\n11. \"Tender offer\" means the acquisition of, or offer to\n\nacquire, pursuant to a tender offer or request or invitation for\n\ntenders, any voting security of a domestic public utility or holding\n\ncompany, if after acquisition thereof the acquiring party would,\n\ndirectly or indirectly, be a record or beneficial owner of more than\n\nten percent (10%) of the aggregate number of the issued and\n\noutstanding voting securities of such domestic public utility or\n\nholding company. \"Tender offer\" does not mean:\n\na. bids made by a dealer for his own account in the\n\nordinary course of his business of buying and selling\n\nsuch security, or\n\nb. any other offer to acquire a voting security, or the\n\nacquisition of such voting security pursuant to such\n\noffer, for the sole account of the acquiring party,\n\nfrom not more than fifty persons, in good faith and\n\nnot for the purpose of avoiding this act;\n\n12. “Total utility assets of an acquiring party” means the sum\n\nof:\n\na. the total assets of each domestic public utility that\n\nis an affiliate of the acquiring party,\n\nb. the total assets of each foreign public utility that\n\nis an affiliate of the acquiring party, and\n\nc. the portion, if any, of the total assets of the\n\nacquiring party, without regard to its affiliates or\n\nsubsidiaries and without regard to its investments in\n\nits affiliates or subsidiaries, owned directly by the\n\nacquiring party and used in the business of being a\n\ndomestic public utility or a foreign public utility;\n\n13. “Total nonutility assets of the acquiring party” means the\n\nsum of:\n\na. the total assets of each nonutility company that is an\n\naffiliate of the acquiring party, and\n\nb. the portion, if any, of the total assets of the\n\nacquiring party, without regard to its affiliates or\n\nsubsidiaries and without regard to its investments in\n\nits affiliates or subsidiaries, owned directly by the\n\nacquiring party and not used in the business of being\n\na domestic public utility or a foreign public utility;\n\n14. \"Utility service\" means the transmission or distribution\n\nof combustible hydrocarbon natural or synthetic natural gas by a\n\nperson subject to Section 152 of this title for sale to the public\n\nor the production, transmission, delivery or furnishing of electric\n\ncurrent by a person subject to Section 181 et seq. of this title for\n\nsale to the public for light, heat or power; and\n\n15. \"Voting security\" means any stock or indenture of any\n\nclass presently entitling the owner or holder thereof to vote in the\n\ndirection or management of the affairs of a company, or any stock or\n\nindenture of any class issued under or pursuant to any trust,\n\nagreement or arrangement whereby a trustee or trustees or agent or\n\nagents for the owner or holder of such stock or indenture are\n\npresently entitled to vote in the direction or management of the\n\ncompany.","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":"520716e92f9fbb36dbc11988df4560fe94bd3cad090ee521b6f12ec52637008d","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-17-17-190.9","next":"us-ok/okla.-stat.-tit.-17-17-191.10"},"notice":"GroundRules: Original legal text. Not legal advice."}