{"data":{"id":"us-ok/okla.-stat.-tit.-71-71-628","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 71, § 71-628","heading":"Denial of effectiveness to, suspension or revocation of","body":"effectiveness of registration.\n\nA. The Administrator may issue a stop order denying\n\neffectiveness to, or suspending or revoking the effectiveness of,\n\nany registration if he or she finds that the order is in the public\n\ninterest and that:\n\n1. The registration statement as of its effective date or any\n\nreport under subsections I or J of Section 627 of this Code is\n\nincomplete in any material respect or contains any statement which\n\nwas, in light of the circumstances under which it was made, false or\n\nmisleading with respect to any material fact;\n\n2. Any provision of this Code or any rule, order, or condition\n\nlawfully imposed under this Code has been willfully violated in\n\nconnection with the offer or disposition of subdivided lands by the\n\nperson filing the registration statement, by the subdivider, any\n\npartner, officer or director of the subdivider, by any person\n\noccupying a similar status or performing similar functions, by any\n\nperson directly or indirectly controlling or controlled by the\n\nsubdivider, or by any subdivided land sales agent or other person\n\ninvolved directly or indirectly in the offer or disposition of\n\nsubdivided lands;\n\n3. The subdivided lands are the subject of an administrative\n\nstop order or similar order or a permanent or temporary injunction\n\nof any court of competent jurisdiction entered under any federal or\n\nstate act applicable to the offer or disposition of the subdivided\n\nlands. Provided, however, the Administrator may not institute a\n\nproceeding against an effective registration statement under this\n\nparagraph more than one (1) year from the date of the order or\n\ninjunction relied on, and he or she may not enter an order under\n\nthis paragraph on the basis of an order or injunction entered under\n\nany other state or federal act unless that order or injunction was\n\nbased on facts which would currently constitute a ground for a stop\n\norder under this section;\n\n4. The subdivider's enterprise or method of business includes\n\nor would include activities which are illegal where performed;\n\n5. The offer or disposition of the subdivided lands is or would\n\nbe unfair or inequitable to purchasers or has worked, tended to\n\nwork, or would work a fraud upon purchasers;\n\n6. The disposition has been made or would be made with\n\nunreasonable commissions or other unreasonable compensation;\n\n7. The applicant or registrant has failed to pay the proper\n\nfiling fee. Provided, however, the Administrator may enter only a\n\ndenial order under this paragraph and he or she shall vacate any\n\nsuch order when the deficiency has been corrected;\n\n8. Advertising prohibited by Section 653 of this Code has been\n\nused in connection with the offer or disposition of the subdivided\n\nlands;\n\n9. The financial condition of the subdivider or of any other\n\nperson connected with the offer or disposition of subdivided lands\n\nadversely affects or would adversely affect the soundness of the\n\nland purchase; or\n\n10. The subdivider is not in compliance with federal, state, or\n\nlocal environmental quality standards.\n\nB. The Administrator may not institute a stop order proceeding\n\nagainst an effective registration statement on the basis of a fact\n\nor transaction known to the Administrator when the registration\n\nstatement became effective unless the proceeding is instituted\n\nwithin sixty (60) days.\n\nC. In a proceeding for registration, within sixty (60) days of\n\nthe effective date of such registration statement, the applicant or\n\nregistrant has the burden of satisfying the requirements of\n\nsubsection A of this section.\n\nD. The Administrator may issue a summary order denying,\n\npostponing, suspending, or revoking the effectiveness of the\n\nregistration statement pending final determination of any proceeding\n\nunder this section. Upon the entry of the order, the Administrator\n\nshall promptly notify each person specified in subsection E of this\nhe burden of satisfying the requirements of\n\nsubsection A of this section.\n\nD. The Administrator may issue a summary order denying,\n\npostponing, suspending, or revoking the effectiveness of the\n\nregistration statement pending final determination of any proceeding\n\nunder this section. Upon the entry of the order, the Administrator\n\nshall promptly notify each person specified in subsection E of this\n\nsection that the order has been entered, the reasons for the entry\n\nof order, and that each such person has a right to request a hearing\n\nunder subsection A of Section 661 of this Code. If no hearing is\n\nrequested and none is ordered by the Administrator, the order will\n\nremain in effect until it is modified or vacated by the\n\nAdministrator.\n\nE. No stop order may be entered under this section except under\n\nsubsection D of this section unless there has been appropriate prior\n\nnotice to the applicant or registrant, to the subdivider and to the\n\nperson on whose behalf the lands are to be or have been offered, an\n\nopportunity for hearings and the making of written findings of fact\n\nand conclusions of law.\n\nF. The Administrator may vacate or modify a stop order if he\n\nfinds that the conditions which prompted the stop order's entry have\n\nchanged or that it is otherwise in the public interest to do so.","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":"14bb46986d9856f266cd2dc48f277e4e0e6116d8868815363e11f7ad6973d2fb","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-71-71-627","next":"us-ok/okla.-stat.-tit.-71-71-631"},"notice":"GroundRules: Original legal text. Not legal advice."}