{"data":{"id":"us-ok/okla.-stat.-tit.-71-71-1-402","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 71, § 71-1-402","heading":"Agent registration requirement and exemptions","body":"A. It is unlawful and shall be deemed a Class C2 felony offense\n\nfor an individual to transact business in this state as an agent\n\nunless the individual is registered under this act as an agent or is\n\nexempt from registration as an agent under subsection B of this\n\nsection.\n\nB. The following individuals are exempt from the registration\n\nrequirement of subsection A of this section:\n\n1. An individual who represents a broker-dealer in effecting\n\ntransactions in this state limited to those described in Section\n\n15(i)(3) of the Securities Exchange Act of 1934 (15 U.S.C. Section\n\n78o(i)(3));\n\n2. An individual who represents a broker-dealer that is exempt\n\nunder subsection B or D of Section 1-401 of this title;\n\n3. An individual who represents an issuer with respect to an\n\noffer or sale of the issuer's own securities or those of the\n\nissuer's parent or any of the issuer's subsidiaries to existing\n\nemployees, partners, members or directors of the issuer or the\n\nissuer's parent or any of the issuer's subsidiaries, and who is not\n\ncompensated in connection with the individual's participation by the\n\npayment of commissions or other remuneration based, directly or\n\nindirectly, on transactions in those securities;\n\n4. An individual who represents an issuer and who effects\n\ntransactions in the issuer's securities exempted by Section 1-202 of\n\nthis title, other than paragraphs 11 and 14 of Section 1-202 of this\n\ntitle;\n\n5. An individual who represents an issuer who effects\n\ntransactions solely in federal covered securities of the issuer, but\n\nan individual who effects transactions in a federal covered security\n\nunder Section 18(b)(3) or 18(b)(4)(F) of the Securities Act of 1933\n\n(15 U.S.C. Section 77r(b)(3) or 77r(b)(4)(F)) is not exempt if the\n\nindividual is compensated in connection with the agent's\n\nparticipation by the payment of commissions or other remuneration\n\nbased, directly or indirectly, on transactions in those securities;\n\n6. An individual who represents a broker-dealer registered in\n\nthis state under subsection A of Section 1-401 of this title or\n\nexempt under subsection B of Section 1-401 of this title in the\n\noffer and sale of securities for an account of a nonaffiliated\n\nfederal covered investment adviser with investments under management\n\nin excess of One Hundred Million Dollars ($100,000,000.00) acting\n\nfor the account of others pursuant to discretionary authority in a\n\nsigned record;\n\n7. An individual who represents an issuer in connection with\n\nthe purchase of the issuer's own securities;\n\n8. An individual who represents an issuer and who restricts\n\nparticipation to performing ministerial or clerical work; or\n\n9. Any other individual exempted by rule adopted or order\n\nissued under this act.\n\nC. The registration of an agent is effective only while the\n\nagent is employed by or associated with a broker-dealer registered\n\nunder this act or an issuer that is offering, selling or purchasing\n\nits securities in this state.\n\nD. It is unlawful and shall be deemed a Class C2 felony offense\n\nfor a broker-dealer, or an issuer engaged in offering, selling, or\n\npurchasing securities in this state, to employ or associate with an\n\nagent who transacts business in this state on behalf of broker-\n\ndealers or issuers unless the agent is registered under subsection A\n\nof this section or exempt from registration under subsection B of\n\nthis section.\n\nE. Unless prohibited by rule adopted or order issued under this\n\nact, an individual may act as an agent for more than one broker-\n\ndealer or more than one issuer at a time.\n\nF. It is unlawful and shall be deemed a Class C2 felony offense\n\nfor an individual acting as an agent, directly or indirectly, to\n\nconduct business in this state on behalf of a broker-dealer or\n\nissuer if the registration of the individual as an agent is\n\nsuspended or revoked under this act; or the individual is barred\nan agent for more than one broker-\n\ndealer or more than one issuer at a time.\n\nF. It is unlawful and shall be deemed a Class C2 felony offense\n\nfor an individual acting as an agent, directly or indirectly, to\n\nconduct business in this state on behalf of a broker-dealer or\n\nissuer if the registration of the individual as an agent is\n\nsuspended or revoked under this act; or the individual is barred\n\nfrom employment or association with a broker-dealer by an order\n\nunder this act, the Securities and Exchange Commission, or a self-\n\nregulatory organization; or the individual is subject to an order of\n\na court of competent jurisdiction temporarily, preliminarily or\n\npermanently enjoining such individual from conducting business in\n\nthis state on behalf of a broker-dealer or issuer.","path":["OK Code","Title 71"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os71.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"e73cd23a30cde8373ab08d4c760e7d1b3522ac75e0399c231108c6e9e6c7c85f","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-71-71-1-401","next":"us-ok/okla.-stat.-tit.-71-71-1-403"},"notice":"GroundRules: Original legal text. Not legal advice."}