{"data":{"id":"us-ok/okla.-stat.-tit.-24-24-113","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 24, § 24-113","heading":"Definitions","body":"As used in the Uniform Fraudulent Transfer Act:\n\n1. \"Affiliate\" means:\n\na. a person who directly or indirectly owns, controls or\n\nholds with power to vote, twenty percent (20%) or more\n\nof the outstanding voting securities of the debtor,\n\nother than a person who holds the securities:\n\n(1) as a fiduciary or agent without sole\n\ndiscretionary power to vote the securities, or\n\n(2) solely to secure a debt, if the person has not\n\nexercised the power to vote;\n\nb. a corporation, twenty percent (20%) or more of whose\n\noutstanding voting securities are directly or\n\nindirectly owned, controlled or held with power to\n\nvote, by the debtor or a person who directly or\n\nindirectly owns, controls or holds, with power to\n\nvote, twenty percent (20%) or more of the outstanding\n\nvoting securities of the debtor, other than a person\n\nwho holds the securities:\n\n(1) as a fiduciary or agent without sole power to\n\nvote the securities, or\n\n(2) solely to secure a debt, if the person has not in\n\nfact exercised the power to vote;\n\nc. a person whose business is operated by the debtor\n\nunder a lease or other agreement, or a person\n\nsubstantially all of whose assets are controlled by\n\nthe debtor; or\n\nd. a person who operates the debtor's business under a\n\nlease or other agreement or controls substantially all\n\nof the debtor's assets.\n\n2. \"Asset\" means property of a debtor, but the term does not\n\ninclude:\n\na. property to the extent it is encumbered by a valid\n\nlien; or\n\nb. property to the extent it is generally exempt under\n\nnonbankruptcy law; or\n\nc. an interest in property held in tenancy by the\n\nentireties to the extent it is not subject to process\n\nby a creditor holding a claim against only one tenant.\n\n3. \"Claim\" means a right to payment, whether or not the right\n\nis reduced to judgment, liquidated, unliquidated, fixed, contingent,\n\nmatured, unmatured, disputed, undisputed, legal, equitable, secured\n\nor unsecured.\n\n4. \"Creditor\" means a person who has a claim.\n\n5. \"Debt\" means liability on a claim.\n\n6. \"Debtor\" means a person who is liable on a claim.\n\n7. \"Insider\" includes:\n\na. if the debtor is an individual:\n\n(1) a relative of the debtor or of a general partner\n\nof the debtor, or\n\n(2) a partnership in which the debtor is a general\n\npartner, or\n\n(3) a general partner in a partnership described in\n\ndivision (2) of this subparagraph, or\n\n(4) a corporation of which the debtor is a director,\n\nofficer or person in control;\n\nb. if the debtor is a corporation:\n\n(1) a director of the debtor, or\n\n(2) an officer of the debtor, or\n\n(3) a person in control of the debtor, or\n\n(4) a partnership in which the debtor is a general\n\npartner, or\n\n(5) a general partner in a partnership described in\n\ndivision (4) of this subparagraph, or\n\n(6) a relative of a general partner, director,\n\nofficer, or person in control of the debtor;\n\nc. if the debtor is a partnership:\n\n(1) a general partner in the debtor, or\n\n(2) a relative of a general partner in, a general\n\npartner of, or a person in control of the debtor,\n\nor\n\n(3) another partnership in which the debtor is a\n\ngeneral partner, or\n\n(4) a general partner in a partnership described in\n\ndivision (3) of this subparagraph, or\nirector,\n\nofficer, or person in control of the debtor;\n\nc. if the debtor is a partnership:\n\n(1) a general partner in the debtor, or\n\n(2) a relative of a general partner in, a general\n\npartner of, or a person in control of the debtor,\n\nor\n\n(3) another partnership in which the debtor is a\n\ngeneral partner, or\n\n(4) a general partner in a partnership described in\n\ndivision (3) of this subparagraph, or\n\n(5) a person in control of the debtor;\n\nd. an affiliate, or an insider of an affiliate as if the\n\naffiliate were the debtor; and\n\ne. a managing agent of the debtor.\n\n8. \"Lien\" means a charge against or an interest in property to\n\nsecure payment of a debt or performance of an obligation, and\n\nincludes a security interest created by agreement, a judicial lien\n\nobtained by legal or equitable process or proceedings, a common-law\n\nlien or a statutory lien.\n\n9. \"Person\" means an individual, partnership, corporation,\n\nassociation, organization, government or governmental subdivision or\n\nagency, business trust, estate, trust, or any other legal or\n\ncommercial entity.\n\n10. \"Property\" means anything that may be the subject of\n\nownership.\n\n11. \"Relative\" means an individual related by consanguinity\n\nwithin the third degree as determined by the common law, a spouse,\n\nor an individual related to a spouse within the third degree as so\n\ndetermined, and includes an individual in an adoptive relationship\n\nwithin the third degree.\n\n12. \"Transfer\" means every mode, direct or indirect, absolute\n\nor conditional, voluntary or involuntary, of disposing of or parting\n\nwith an asset or an interest in an asset, and includes payment of\n\nmoney, release, lease, and creation of a lien or other encumbrance.\n\n13. \"Valid lien\" means a lien that is effective against the\n\nholder of a judicial lien subsequently obtained by legal or\n\nequitable process or proceedings.","path":["OK Code","Title 24"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os24.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"14f0452551926ba7f22c888b3d65e6442edc86c0927ccbafa16d183d8eeaca59","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-24-24-112","next":"us-ok/okla.-stat.-tit.-24-24-114"},"notice":"GroundRules: Original legal text. Not legal advice."}