{"data":{"id":"us-ok/okla.-stat.-tit.-71-71-626","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 71, § 71-626","heading":"Public offering statements - Contents - Violations - Uses","body":"A. It shall be unlawful and deemed a Class D3 felony offense\n\nfor a person to dispose of an interest in subdivided lands, pursuant\n\nto a registration under this Code, unless a current public offering\n\nstatement is delivered to the purchaser at the expense of the\n\nsubdivider or the subdivider's agent at least forty-eight (48) hours\n\nprior to any sale, contract to sell or option to purchase and unless\n\nthe purchaser is afforded a reasonable opportunity to examine and is\n\npermitted to retain the public offering statement. The subdivider\n\nshall obtain and retain a receipt, signed by the purchaser,\n\nacknowledging receipt of a copy of the public offering statement\n\nprior to the execution by the purchaser of any contract or agreement\n\nfor the disposition of any lot in a subdivision, which receipt shall\n\nbe kept in the files of the subdivider and be subject to inspection\n\nby the Administrator for a period of three (3) years from the date\n\nthe receipt is taken.\n\nB. A public offering statement shall disclose fully and\n\naccurately all material circumstances or features which affect the\n\nsubdivided lands or which would be a material consideration in\n\nmaking the purchasing decision. The proposed public offering\n\nstatement shall be submitted to the Administrator as required by\n\nparagraph 20 of Section 625 of this Code and shall be in such form\n\nand contain such information as the Administrator by rule requires\n\nincluding:\n\n1. The name, principal address, electronic mail address,\n\nwebsite address, and telephone number of the subdivider and the\n\nsubdivider's offices and agents in this state;\n\n2. A general description of the subdivided lands including a\n\nstatement of the total number of lots to be offered;\n\n3. A statement as to whether the subdivider holds any option to\n\npurchase adjacent properties and, if so, a description of such\n\noption and the location and zoning of the adjacent properties;\n\n4. The assistance, if any, that the subdivider and the\n\nsubdivider's agents or affiliates will provide to the purchaser in\n\nthe resale of the property and the extent to which the subdivider,\n\nagents, or affiliates will be in competition in the event of resale;\n\n5. The material terms of any encumbrances, easements, liens,\n\nand restrictions including zoning and other regulations affecting\n\nthe subdivided lands and each unit or lot, the efforts to remove\n\nsuch liens or encumbrances, the results of the success or failure\n\nthereof, and all existing taxes and existing or proposed special\n\ntaxes or assessments which affect the subdivided lands;\n\n6. The use for which the property is to be offered;\n\n7. Information concerning existing or proposed improvements\n\nincluding, but not limited to, streets, water supply, levees,\n\ndrainage control systems, irrigation systems, sewage disposal\n\nsystems and customary utilities and the estimated cost, date of\n\ncompletion, and responsibility for construction and maintenance of\n\nexisting and proposed improvements which are referred to in\n\nconnection with the offering or disposition of any lot in subdivided\n\nlands;\n\n8. Such financial statements of the subdivider as the\n\nAdministrator may require;\n\n9. The topographic and climatic characteristics of the\n\nsubdivided lands and adjacent area;\n\n10. A statement of the existing provisions for access of the\n\nsubdivision to community fire protection, the location of primary\n\nand secondary schools, the proximity to municipalities and the\n\npopulation thereof, the improvements installed or to be installed\n\nincluding off-site and on-site community and recreational\n\nfacilities, by whom they were or are to be installed, maintained or\n\npaid for, and an estimate of completion thereof; and\n\n11. Such additional information as may be required by the\n\nAdministrator including any of the information contained in the\n\napplication for registration.\nbe installed\n\nincluding off-site and on-site community and recreational\n\nfacilities, by whom they were or are to be installed, maintained or\n\npaid for, and an estimate of completion thereof; and\n\n11. Such additional information as may be required by the\n\nAdministrator including any of the information contained in the\n\napplication for registration.\n\nC. The public offering statement shall not be used for any\n\npromotional purpose before registration of the subdivided lands and\n\nafterwards it shall be used only in its entirety. It shall be\n\nunlawful for any person to advertise or represent that the\n\nAdministrator has approved or recommended the subdivided lands or a\n\ndisposition thereof. No portion of the public offering statement\n\nmay be underscored, italicized, or printed in larger or heavier or\n\ndifferent colored type than the remainder of the statement unless\n\nrequired or approved by the Administrator.\n\nD. The Administrator may require the subdivider or the\n\nsubdivider's agent to alter or amend the proposed public offering\n\nstatement in order to provide full and fair disclosure to\n\nprospective purchasers.","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":"cc3a9c92a2124ea6d2178f54e06ee64bd2c3766f54dd751b09a8cd3596938d80","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-71-71-625","next":"us-ok/okla.-stat.-tit.-71-71-627"},"notice":"GroundRules: Original legal text. Not legal advice."}