{"data":{"id":"us-ok/okla.-stat.-tit.-71-71-803","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 71, § 71-803","heading":"Exemptions","body":"The following business opportunities are exempt from Sections\n\n806 through 811 of this title:\n\n1. Any offer or sale of a business opportunity for which the\n\nimmediate cash payment made by the purchaser for any business\n\nopportunity is at least Twenty-five Thousand Dollars ($25,000.00) if\n\nthe immediate cash payment does not exceed twenty percent (20%) of\n\nthe purchaser's net worth as determined exclusive of principal\n\nresidence, furnishings therein, and automobiles. The Administrator\n\nmay by rule withdraw or further condition the availability of this\n\nexemption.\n\n2. Any offer or sale of a business opportunity for which the\n\npurchaser is required to make a payment to the seller or a person\n\nrecommended by the seller not to exceed Five Hundred Dollars\n\n($500.00). For purposes of this paragraph, \"payment\" means the\n\ntotal amount the purchaser becomes obligated to pay to the seller or\n\nto any third party either prior to or at the time of delivery of the\n\nproducts, equipment, supplies or services or within one (1) year of\n\nthe commencement of operation of the business opportunity by the\n\npurchaser. If payment is over a period of time, \"payment\" shall\n\ninclude the sum of the down payment and the total periodic payments.\n\nIf the purchaser may enter at different levels, \"payment\" means the\n\ntotal sum the purchaser is obligated to pay to enter at the level\n\nchosen by the purchaser.\n\n3. Any offer or sale of a business opportunity where the seller\n\nhas a net worth of not less than One Million Dollars ($1,000,000.00)\n\nas determined on the basis of the seller's most recent audited\n\nfinancial statements, prepared within thirteen (13) months of such\n\noffer or sale in accordance with generally accepted accounting\n\nprinciples and audited in accordance with generally accepted\n\nauditing standards. Net worth may be determined on a consolidated\n\nbasis where the seller is at least eighty percent (80%) owned by one\n\nperson and that person expressly guarantees the obligations of the\n\nseller with regard to the offer or sale of any business opportunity\n\nclaimed to be exempt under this paragraph. The Administrator may by\n\nrule withdraw or further condition the availability of this\n\nexemption.\n\n4. Any offer or sale of a business opportunity where the\n\npurchaser has a net worth of not less than Two Hundred Fifty\n\nThousand Dollars ($250,000.00). Net worth shall be determined\n\nexclusive of principal residence, furnishings therein, and\n\nautomobiles. The Administrator may by rule withdraw or further\n\ncondition the availability of this exemption.\n\n5. Any offer or sale of a business opportunity where the\n\npurchaser is a bank, savings and loan association, trust company,\n\ninsurance company, credit union, investment company as defined by\n\nthe Investment Company Act of 1940, pension or profit sharing trust\n\nor other financial institution or institutional buyer or a dealer\n\nregistered pursuant to the Oklahoma Securities Act, where the\n\npurchaser is acting for itself or in a fiduciary capacity.\n\n6. Any offer or sale of a business opportunity or franchise as\n\ndefined in Section 802 of this title provided that the seller\n\ndelivers to each purchaser fourteen (14) calendar days prior to the\n\nearlier of the execution by a purchaser of any contract or agreement\n\nimposing a binding legal obligation on the purchaser or the payment\n\nby a purchaser of any consideration in connection with the offer or\n\nsale of the business opportunity or franchise, one of the following\n\ndisclosure documents:\n\na. a disclosure document prepared in accordance with the\n\nguidelines adopted by the North American Securities\n\nAdministrators Association, Inc., or\n\nb. a disclosure document prepared pursuant to the Federal\n\nTrade Commission rule entitled Disclosure Requirements\n\nand Prohibitions Concerning Franchising, 16 C.F.R.\n\nPart 436 or the Business Opportunity Rule, 16 C.F.R.\n\nPart 437 as applicable.\nents:\n\na. a disclosure document prepared in accordance with the\n\nguidelines adopted by the North American Securities\n\nAdministrators Association, Inc., or\n\nb. a disclosure document prepared pursuant to the Federal\n\nTrade Commission rule entitled Disclosure Requirements\n\nand Prohibitions Concerning Franchising, 16 C.F.R.\n\nPart 436 or the Business Opportunity Rule, 16 C.F.R.\n\nPart 437 as applicable.\n\nFor the purposes of this paragraph, a personal meeting shall\n\nmean a face-to-face meeting between the purchaser and the seller or\n\ntheir representatives, which is held for the purpose of discussing\n\nthe offer or sale of a business opportunity. The Administrator may\n\nby rule adopt any amendment to the disclosure document that has been\n\nadopted by the North American Securities Administrators Association,\n\nInc. or any amendment to the disclosure document prepared pursuant\n\nto the Federal Trade Commission rule entitled Disclosure\n\nRequirements and Prohibitions Concerning Franchising, 16 C.F.R. Part\n\n436 or the Business Opportunity Rule, 16 C.F.R. Part 437 as\n\napplicable.\n\n7. Any offer or sale of a business opportunity for which the\n\nrequired cash payment made by a purchaser to participate in any\n\nbusiness opportunity does not exceed Seven Hundred Fifty Dollars\n\n($750.00) and the required payment is made for:\n\na. the not-for-profit sale of sales demonstration\n\nequipment, material or samples, and/or\n\nb. product inventory sold to the purchaser at a bona fide\n\nwholesale price.\n\n8. Any offer or sale of a business opportunity which the\n\nAdministrator exempts by order or a class of business opportunities\n\nwhich the Administrator exempts by rule upon the finding that such\n\nexemption would not be contrary to public interest and that\n\nregistration would not be necessary or appropriate for the\n\nprotection of purchasers.\n\n9. Any business which is operated under a lease or license on\n\nthe premises of the lessor or licenser as long as such business is\n\nincidental to the business conducted by the lessor or the licenser\n\non such premises, including, without limitation, leased departments,\n\nlicensed departments and concessions.","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":"21871b20c74a77a03227ac423b1dac4b7a8552c60a6943426ee2e9010caca7ab","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-71-71-802","next":"us-ok/okla.-stat.-tit.-71-71-804"},"notice":"GroundRules: Original legal text. Not legal advice."}