{"data":{"id":"us-ok/okla.-stat.-tit.-71-71-460","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 71, § 71-460","heading":"Violations - Penalty - Evidence","body":"A. Any person who violates, and a controlling person of an\n\nofferor or target company who knowingly violates, any provision of\n\nthis act or any rule thereunder, or any order of the Administrator\n\nof which this person has notice, shall be guilty of a Class D1\n\nfelony offense and may be fined not more than Twenty-five Thousand\n\nDollars ($25,000.00), or imprisoned as provided for in subsections B\n\nthrough F of Section 20N of Title 21 of the Oklahoma Statutes, or\n\nboth. Each of the acts specified shall constitute a separate\n\noffense and a prosecution or conviction for any one of such offenses\n\nshall not bar prosecution or conviction for any other offense. No\n\nindictment or information may be returned under this act more than\n\ntwo (2) years after the alleged violation.\n\nB. The Administrator may refer such evidence as is available\n\nconcerning violations of this act or of any rule or order hereunder\n\nto the Attorney General or the district attorney for the appropriate\n\ncounty who may, with or without any reference, institute the\n\nappropriate criminal proceedings under this act. If referred to a\n\ndistrict attorney, he shall, within ninety (90) days, file with the\n\nAdministrator a statement concerning any action taken or, if no\n\naction is taken, the reasons therefor.\n\nC. Nothing in this act limits the power of the state to punish\n\nany person for any conduct which constitutes a crime under any other\n\nstatute.\n\nD. All shares acquired from an Oklahoma resident in violation\n\nof any provision of this act or any rule thereunder, or any order of\n\nthe Administrator of which the person has notice, shall be denied\n\nvoting rights for one (1) year after acquisition, the shares shall\n\nbe nontransferable on the books of the target company for one (1)\n\nyear after acquisition and the target company shall, during this\n\none-year period, have the option to call the shares for redemption\n\neither at the price at which the shares were acquired or at book\n\nvalue per share as of the last day of the fiscal quarter ended prior\n\nto the date of the call for redemption. Such a redemption shall\n\noccur on the date set in the call notice, but not later than sixty\n\n(60) days after the call notice is given.","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":"bae15854a42e3b70f8e25e8619c47accded72a61bd5fd86d8a2f5b704c8e0619","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-71-71-459","next":"us-ok/okla.-stat.-tit.-71-71-461"},"notice":"GroundRules: Original legal text. Not legal advice."}