Oklahoma § 59-2008 - Change in ownership - Bond or letter of credit
Full text of Oklahoma Oklahoma Statutes § 59-2008 — Change in ownership - Bond or letter of credit, with citation guidance and answers to common questions.
§ 59-2008. Change in ownership - Bond or letter of credit
For purposes of the Oklahoma Health Spa Act, a health spa shall
be considered a new health spa and subject to the requirements of a
bond or letter of credit at the time the health spa changes
ownership. A change in ownership shall not release, cancel or
terminate liability under any bond or letter of credit previously
filed unless the Administrator agrees in writing to such release,
cancellation or termination because the new owner has filed a new
bond or letter of credit for the benefit of the previous owner's
members or because the former owner has refunded all unearned
payments to its members.
Added by Laws 1987, c. 217, § 10, eff. Nov. 1, 1987. Amended by Laws
1988, c. 215, § 7, eff. Nov. 1, 1988. Renumbered from Title 15, §
775.8 by Laws 1988, c. 215, § 12, eff. Nov. 1, 1988.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 59-2008
What does Oklahoma Statutes § 59-2008 cover?
Section 59-2008 ("Change in ownership - Bond or letter of credit") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 59-2008?
A common citation format is "Oklahoma Statutes § 59-2008" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 59-2008 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.