{"data":{"id":"us-ok/okla.-stat.-tit.-82-82-1324.41","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 82, § 82-1324.41","heading":"Definitions","body":"As used in this act:\n\n1. \"Acquiring party\" means a person and all affiliates thereof\n\nby whom or on whose behalf an acquisition of control referred to in\n\nSection 6 of this act is to be effected;\n\n2. \"Affiliate\" means a person who directly, or indirectly\n\nthrough one or more intermediaries, controls, or is controlled by,\n\nor is under common control with, the person specified, including any\n\ncorporation created at the direction of the person specified, for\n\npurposes of corporate reorganization;\n\n3. \"Assets\" in the case of a district or corporation means the\n\nphysical plant, equipment, accounts receivable, accounts payable and\n\nall other assets of such district or corporation;\n\n4. \"Board\" means the Oklahoma Water Resources Board;\n\n5. \"Control\", including the terms \"controlling\" or \"controlled\n\nby\", and \"under common control with\", means the possession, direct\n\nor indirect, of the power to direct or cause the direction of the\n\nmanagement and policies of a person, whether through ownership, by\n\ncontract, purchase of assets, or otherwise, unless such power is the\n\nresult of an official position with, or corporate office held in,\n\nsuch person. Control shall be presumed to exist if any person,\n\ndirectly or indirectly, owns or controls the assets of such district\n\nor corporation. This presumption may be rebutted by showing that\n\ncontrol does not exist in fact. The Board may determine, after\n\nfurnishing all persons in interest notice and opportunity to be\n\nheard and making specific findings of fact to support such\n\ndetermination, that control exists in fact, notwithstanding the\n\nabsence of a presumption to that effect;\n\n6. \"Corporation\" means a not-for-profit corporation organized:\n\na. pursuant to the provisions of the Oklahoma General\n\nCorporation Act, Section 1001 et seq. of Title 18 of\n\nthe Oklahoma Statutes, for a purpose not involving\n\npecuniary gain to its shareholders or members, paying\n\nno dividends or other pecuniary remuneration, directly\n\nor indirectly, to its shareholders or members as such\n\nand having no capital stock, and\n\nb. for the purpose of developing and providing rural\n\nwater supplies to serve rural residents;\n\n7. \"District\" means a public nonprofit water district created\n\npursuant to the Rural Water, Sewer, Gas and Solid Waste Management\n\nDistricts Act, Section 1324.1 et seq. of Title 82 of the Oklahoma\n\nStatutes; and\n\n8. \"Person\" means an individual, a corporation, a partnership,\n\nan association, a joint stock company, a trust, an unincorporated\n\norganization, any similar entity or any combination of the foregoing\n\nacting in concert, but shall not include any securities broker\n\nperforming no more than the usual and customary broker's function.","path":["OK Code","Title 82"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os82.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"111acbee86cd63207693637696bd4afe2ba5e4cee74c0fb46313827a45353d4b","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-82-82-1324.4","next":"us-ok/okla.-stat.-tit.-82-82-1324.42"},"notice":"GroundRules: Original legal text. Not legal advice."}