{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-3936","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-3936","heading":"Reports on investments by rural funds - Application to","body":"exit the program.\n\nA. Rural funds shall submit a report to the Department within\n\nthe first fifteen (15) business days after the second and third\n\nanniversary of the initial credit allowance date. The report\n\nfollowing the second anniversary shall provide documentation as to\n\nthe investment of sixty percent (60%) of the purchase price of such\n\ncapital investment in qualified investments. The report following\n\nthe third anniversary shall provide documentation as to the\n\ninvestment of one hundred percent (100%) of the purchase price of\n\nsuch capital investment in qualified investments. Unless previously\n\nreported pursuant to this subsection, such reports shall also\n\ninclude:\n\n1. The name and location of each eligible business receiving a\n\nqualified investment;\n\n2. Bank statements of such rural fund evidencing each qualified\n\ninvestment;\n\n3. A copy of the written opinion of the Department, as provided\n\nin subsection C of Section 4 of this act, or evidence that such\n\nbusiness was an eligible business at the time of such qualified\n\ninvestment, as applicable;\n\n4. The number of jobs created and jobs retained as a result of\n\neach qualified investment;\n\n5. The average salary of positions described in paragraph 4 of\n\nthis subsection; and\n\n6. Such other information as required by the Department.\n\nB. For all subsequent years, rural funds shall submit an annual\n\nreport to the Department within ninety (90) days of the beginning of\n\nthe calendar year during the compliance period. The report shall\n\ninclude, but is not limited to, the following:\n\n1. The number of jobs created and jobs retained as a result of\n\nqualified investments;\n\n2. The average annual salary of positions described in\n\nparagraph 1 of this subsection; and\n\n3. Such other information as required by the Department.\n\nC. On or after the sixth anniversary of the credit allowance\n\ndate, a rural fund may apply to the Department to exit the program\n\nand no longer be subject to the regulation hereunder. The\n\nDepartment shall respond to the exit application within fifteen (15)\n\ndays of receipt. In evaluating the exit application, the fact that\n\nno credits have been recaptured and that the rural fund has not\n\nreceived a notice of recapture that has not been cured pursuant to\n\nsubsection E of Section 5 of this act shall be sufficient evidence\n\nto prove that the rural fund is eligible for exit. The Department\n\nshall not unreasonably deny an exit application submitted under this\n\nsection. If an exit application is denied, the notice shall include\n\nthe reasons for the determination.","path":["OK Code","Title 68"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os68.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"a6bf67bd6be4decda2a0b832292fff0cf64e645a740b357c8771702e081bc746","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-3935","next":"us-ok/okla.-stat.-tit.-68-68-3937"},"notice":"GroundRules: Original legal text. Not legal advice."}