Oklahoma § 62-2203.2 - Definitions

§ 62-2203.2. Definitions

As used in the Oklahoma Disaster Relief Materials Price

Stabilization Act:

1. "Cost to the retailer" means the invoice cost of the

merchandise to the retailer or the replacement cost of the

merchandise to the retailer, whichever is the lower; less all trade

discounts except customary discounts for cash; to which shall be

added:

a.

freight charges not otherwise included in the invoice

cost or the replacement cost of the merchandise,

b.

cartage to the retail outlet if done or paid for the

retailer, which cartage cost, in the absence of proof

of a lesser cost, shall be deemed to be three-fourths

of one percent (3/4 of 1%) of the cost to the retailer

as herein defined after adding freight charges, but

before adding cartage and taxes,

c.

all state and federal taxes, and

d.

a markup to cover a proportionate part of the cost of

doing business, which markup, in the absence of proof

of a lesser cost, shall be six percent (6%) of the

cost of the retailer after adding freight charges and

cartage, but before adding a markup;

2. "Cost to the wholesaler" means the invoice cost of the

merchandise to the wholesaler, or the replacement cost of the

merchandise to the wholesaler, whichever is the lower; less all

trade discounts except customary discounts for cash; to which shall

be added:

a.

freight charges, not otherwise included in the invoice

cost or the replacement cost of the merchandise,

Oklahoma Statutes - Title 62. Public Finance

b.

cartage to the retail outlet if done or paid for by

the wholesaler, which cartage cost, in the absence of

proof of a lesser cost, shall be deemed to be threefourths of one percent (3/4 of 1%) of the cost to the

wholesaler after adding freight charges, but before

adding cartage and taxes, and

c.

all state and federal taxes;

3. "Disaster relief materials" means those structural elements

that typically sustain damage during temporary conditions,

including, but not limited to: lumber and lumber composites,

engineered wood products, structural wood panels, roofing,

guttering, siding, drywall, insulation, flooring, windows, doors and

plumbing elements;

4. "Excessive price" means a price exceeding one hundred ten

percent (110%) of the highest price charged by the retailer or

wholesaler for the item within the previous thirty (30) days;

5. "Replacement costs" means the cost per unit at which the

merchandise sold or offered for sale could have been bought by the

seller at any time within thirty (30) days prior to the date of sale

or the date upon which it is offered for sale by the seller if

bought in the same quantity or quantities as the seller's last

purchase of such merchandise;

6. "Retailer" means and includes every person, partnership,

corporation or association engaged in the business of making sales

of retail disaster relief materials within this state; provided

that, in the case of a person, partnership, corporation or

association engaged in the business of making both sales at retail

and sales at wholesale, such term shall be applied only to the

retail portion of such business;

7. "Sell at retail", "sales at retail", "retail sale", "sell at

wholesale", "sales at wholesale" or "wholesale sales" means any

transfer for a valuable consideration made in the ordinary course of

trade or the usual conduct of the seller's business of title to

personal property to the purchaser for purposes of resale or further

processing or manufacturing. The above terms shall include any

transfer of such property where title is retained by the seller as

security for the payment of the purchase price;

8. "Temporary conditions" means conditions lasting seven (7)

days or less such as tornado, hail storm, ice storm or blizzard. It

does not include conditions lasting longer than seven (7) days such

as drought or low temperatures; and

9. "Wholesaler" means and includes every person, partnership,

corporation or association engaged in the business of making sales

of wholesale disaster relief materials within this state; provided

that, in the case of a person, partnership, corporation or

association engaged in the business of making both sales at

Oklahoma Statutes - Title 62. Public Finance

wholesale and sales at retail, such term shall be applied only to

the wholesale portion of such business.

Added by Laws 2013, c. 400, § 3, eff. Nov. 1, 2013.