{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-955","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-955","heading":"Limitations on ownership - Exceptions","body":"A. No person, corporation, association or any other entity\n\nshall engage in farming or ranching, or own or lease any interest in\n\nland to be used in the business of farming or ranching, except the\n\nfollowing:\n\n1. Natural persons and the estates of such persons;\n\n2. Trustees of trusts; provided that:\n\na. each beneficiary shall be a person or entity\n\nenumerated in paragraphs 1 through 5 of this\n\nsubsection, and\n\nb. there shall not be more than ten beneficiaries unless\n\nthe beneficiaries in excess of ten are related as\n\nlineal descendants or are or have been related by\n\nmarriage or adoption to lineal descendants, and\n\nc. at least sixty-five percent (65%) of the trust's\n\nannual gross receipts shall be derived from farming or\n\nranching, or from allowing others to extract minerals\n\nunderlying lands held by the trust. If the trust\n\ncannot comply with the annual gross receipts test, the\n\ntrust may furnish records of its gross receipts for\n\neach of the previous five (5) years, or for each year\n\nthat it has been in existence if less than five (5)\n\nyears, and the average of such annual gross receipts\n\nmay be used for purposes of complying with this\n\nsection;\n\n3. Corporations, as provided for in Sections 951 through 954 of\n\nthis title, or as otherwise permitted by law;\n\n4. Partnerships and limited partnerships; provided that:\n\na. each partner shall be a person or entity enumerated in\n\nparagraphs 1 through 5 of this subsection, and\n\nb. there shall not be more than ten partners unless said\n\npartners in excess of ten are related as lineal\n\ndescendants or are or have been related by marriage or\n\nadoption to lineal descendants, and\n\nc. at least sixty-five percent (65%) of the partnership's\n\nannual gross receipts shall be derived from farming or\n\nranching, or from allowing others to extract minerals\n\nunderlying lands held by the partnership. If the\n\npartnership cannot comply with the annual gross\n\nreceipts test, the partnership may furnish records of\n\nits gross receipts for each of the previous five (5)\n\nyears, or for each year that it has been in existence\n\nif less than five (5) years, and the average of such\n\nannual gross receipts may be used for purposes of\n\ncomplying with this section;\n\n5. Limited liability companies formed pursuant to the Oklahoma\n\nLimited Liability Company Act; provided that:\n\na. each member shall be a person or entity enumerated in\n\nparagraphs 1 through 5 of this subsection, and\n\nb. there shall not be more than thirty members unless\n\nsaid members in excess of thirty are related as lineal\n\ndescendants or are or have been related by marriage or\n\nadoption to lineal descendants, and\n\nc. at least sixty-five percent (65%) of the limited\n\nliability company's annual gross receipts shall be\n\nderived from farming or ranching, or from allowing\n\nothers to extract minerals underlying lands held by\n\nthe limited liability company. If the limited\n\nliability company cannot comply with the annual gross\n\nreceipts test, the limited liability company may\n\nfurnish records of its gross receipts for each of the\n\nprevious five (5) years, or for each year that it has\n\nbeen in existence if less than five (5) years, and the\n\naverage of such annual gross receipts may be used for\n\npurposes of complying with this section.\n\nB. Any farming or ranching corporation, trust, partnership,\n\nlimited partnership, limited liability company or other entity which\n\nviolates any provisions of this section shall be fined an amount not\n\nto exceed Five Hundred Dollars ($500.00). Any other person or\n\nentity who knowingly violates this section shall be deemed guilty of\n\na misdemeanor.\n\nC. The provisions of this act shall not apply to interests in\n\nland acquired prior to June 1, 1978.","path":["OK Code","Title 18"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os18.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"f589b2c09646e68f9544bd2ae3c4bf10b88c1ebf375510fa01a6066bfa5ca06c","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-954.1","next":"us-ok/okla.-stat.-tit.-18-18-956"},"notice":"GroundRules: Original legal text. Not legal advice."}