{"data":{"id":"us-ok/okla.-stat.-tit.-82-82-1324.44","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 82, § 82-1324.44","heading":"Board approval of acquisition - Conditions for","body":"disapproval - Public hearing.\n\nA. The Oklahoma Water Resources Board shall approve any\n\nacquisition of control referred to in Section 6 of this act unless,\n\nafter a public hearing thereon, it finds that one or more of the\n\nfollowing conditions will exist if such acquisition of control is\n\nconsummated, in which event it shall disapprove such acquisition of\n\ncontrol and the same shall not be consummated:\n\n1. The acquisition of control would adversely affect the\n\ncontractual obligations of the district or corporation or its\n\nability or commitment to render the same level of service to its\n\ncustomers that the district or corporation is currently rendering;\n\n2. The financial condition of any acquiring party is such as\n\nmight jeopardize the financial stability of the district or\n\ncorporation or otherwise prejudice the interest of the district or\n\ncorporation customer;\n\n3. The plans or proposals which an acquiring party has to\n\nliquidate the district or corporation, sell its assets, or a\n\nsubstantial part thereof, or consolidate or merge it with any\n\nperson, or to make any other material change in its investment\n\npolicy, business or corporate structure or management, would be\n\ndetrimental to the customers of the district or corporation and not\n\nin the public interest; or\n\n4. The competence, experience and integrity of the persons who\n\nwould control the operation of the district or corporation are such\n\nthat it would not be in the interest of its customers and the public\n\nto permit the acquisition of control.\n\nB. The public hearing referred to in subsection A of this\n\nsection shall be commenced within thirty (30) days after the\n\nstatement required by Section 6 of this act is filed. The place,\n\ndate and time for such public hearing shall be set by the Board and\n\nnotice thereof shall be given by the Board to the person filing the\n\nstatement and to the district or corporation at least twenty (20)\n\ndays prior to the date of the public hearing. Notice of the public\n\nhearing shall be given by the person filing the statement to such\n\nother persons and in such manner as may be directed by the Board at\n\nleast fifteen (15) days prior to such public hearing. The district\n\nor corporation shall give notice to its customers as provided in\n\nSection 9 of this act. The public hearing referred to in subsection\n\nA of this section shall be concluded within thirty (30) days after\n\nthe commencement of such hearing. The Board shall make a\n\ndetermination of the factors specified in subsection A of this\n\nsection within thirty (30) days after the conclusion of such\n\nhearing, and any acquisition of control within the purview of this\n\nsection shall be deemed approved unless the Board has, within sixty\n\n(60) days after the conclusion of such hearing, entered its order\n\ndisapproving the acquisition of control.","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":"94b2491c66ed9e9dc006151b0fd2236dfa1e81a3bf08a03ad5c71413fc63a598","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-82-82-1324.43","next":"us-ok/okla.-stat.-tit.-82-82-1324.45"},"notice":"GroundRules: Original legal text. Not legal advice."}