{"data":{"id":"us-ok/okla.-stat.-tit.-71-71-1-605","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 71, § 71-1-605","heading":"Rules, forms, orders, interpretative opinions, and","body":"hearings.\n\nA. The Administrator may:\n\n1. Issue forms and orders and, after notice and comment, may\n\nadopt and amend rules necessary or appropriate to carry out this act\n\nand may repeal rules, including rules and forms governing\n\nregistration statements, applications, notice filings, reports, and\n\nother records;\n\n2. By rule, define terms, whether used in this act, but those\n\ndefinitions may not be inconsistent with this act; and\n\n3. By rule, classify securities, persons, and transactions and\n\nadopt different requirements for different classes.\n\nB. Under this act, a rule or form may not be adopted or\n\namended, or an order issued or amended, unless the Administrator\n\nfinds that the rule, form, order, or amendment is necessary or\n\nappropriate in the public interest or for the protection of\n\ninvestors and is consistent with the purposes intended by this act.\n\nIn adopting, amending, and repealing rules and forms, Section 1-608\n\nof this title applies in order to achieve uniformity among the\n\nstates and coordination with federal laws in the form and content of\n\nregistration statements, applications, reports, and other records,\n\nincluding the adoption of uniform rules, forms, and procedures.\n\nC. Subject to Section 15(i) of the Securities Exchange Act (15\n\nU.S.C. Section 78o(i)) and Section 222 of the Investment Advisers\n\nAct of 1940 (15 U.S.C. Section 80b-18a), the Administrator may\n\nrequire that a financial statement filed under this act be prepared\n\nin accordance with generally accepted accounting principles in the\n\nUnited States and comply with other requirements specified by rule\n\nadopted or order issued under this act. A rule adopted or order\n\nissued under this act may establish:\n\n1. Subject to Section 15(i) of the Securities Exchange Act (15\n\nU.S.C. Section 78o(i)) and Section 222 of the Investment Advisors\n\nAct of 1940 (15 U.S.C. Section 80b-18a), the form and content of\n\nfinancial statements required under this act;\n\n2. Whether unconsolidated financial statements must be filed;\n\nand\n\n3. Whether required financial statements must be audited by an\n\nindependent certified public accountant.\n\nD. The Administrator may provide interpretative opinions or\n\nissue determinations that the Administrator will not institute a\n\nproceeding or an action under this act against a specified person\n\nfor engaging in a specified act, practice, or course of business if\n\nthe determination is consistent with this act. The charge for\n\ninterpretative opinions or determinations that the Administrator\n\nwill not institute an action or a proceeding under this act shall be\n\nspecified in Section 1-612 of this title.\n\nE. A penalty under this act may not be imposed for, and\n\nliability does not arise from, conduct that is engaged in or omitted\n\nin good faith believing it conforms to a rule, form, or order of the\n\nAdministrator under this act.\n\nF. A hearing in an administrative proceeding under this act\n\nshall be conducted in public.","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":"533af1d2dd191b939c11d21d5065149c13af544026affa3f8150d5a62d3e4088","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-71-71-1-604","next":"us-ok/okla.-stat.-tit.-71-71-1-606"},"notice":"GroundRules: Original legal text. Not legal advice."}