Oklahoma § 71-405 - Repealed by Laws 2003, c. 347, § 53, eff. July 1, 2004

§ 71-405. Repealed by Laws 2003, c. 347, § 53, eff. July 1, 2004

NOTE: Prior to repeal, this section was amended to read as follows:

(a) The Administrator in his or her discretion:

(1) may make such public or private investigations within or

outside of this state as he deems necessary to determine whether any

person has violated or is about to violate any provision of this act

or any rule or order hereunder, or to aid in the enforcement of this

act or in the prescribing of rules and forms hereunder; and

(2) may require or permit any person to file a statement in

writing, under oath or otherwise as the Administrator determines, as

Oklahoma Statutes - Title 71. Securities

to all the facts and circumstances concerning the matter to be

investigated.

(b) For the purpose of any investigation or proceeding under

this act, the Administrator, or his or her designee, may administer

oaths and affirmations, subpoena witnesses, compel their attendance,

take evidence, and require the production of any books, papers,

correspondence, memoranda, agreements, or other documents or records

deemed relevant or material to the inquiry.

(c) In case of contumacy by, or refusal to obey a subpoena

issued to, any person, the district court of Oklahoma county or the

district court in any other county where service can be obtained on

one or more of the defendants, upon application by the

Administrator, may issue to the person an order requiring such

person to appear before the Administrator, or the officer designated

by the Administrator, there to produce documentary evidence or to

testify about the matter under investigation or in question. The

court may also grant injunctive relief, including restricting or

prohibiting the offer or sale of securities or the providing of

investment advice. Failure to obey the order of the court may be

punished by the court as a contempt of court.

(d) No person is excused from attending and testifying or from

producing any document or record before the Administrator, or his or

her designee, or in obedience to the subpoena of the Administrator

or his or her designee, or in any proceeding instituted by the

Administrator, on the ground that the testimony or evidence

(documentary or otherwise) required of the person may tend to

incriminate the person or subject the person to a penalty or

forfeiture; but no individual may be prosecuted or subjected to any

penalty or forfeiture for or on account of any transaction, matter,

or thing concerning which the individual is compelled, after

claiming privilege against self-incrimination, to testify or produce

evidence (documentary or otherwise), except that the individual

testifying is not exempt from prosecution and punishment for perjury

or contempt committed in testifying.

(e) In addition to the investigations authorized by Section

405(a) of this title, the Administrator or a designated member of

his staff shall examine as soon as possible all reports filed under

this act for the purpose of determining whether additional

information is required or whether additional investigation should

be made. The Administrator is authorized to require the filing of

any additional information which he deems necessary to correct any

errors or deficiencies in any reports required to be filed.

Added by Laws 1959, p. 343, § 405, eff. July 1, 1959. Amended by

Laws 1978, c. 184, § 3, emerg. eff. April 11, 1978; Laws 1989, c.

150, § 4, operative July 1, 1989; Laws 1995, c. 196, § 15, eff. July

1, 1995; Laws 1997, c. 279, § 15, eff. July 1, 1997; Laws 2003, c.

493, § 5, eff. Nov. 1, 2003.

Oklahoma Statutes - Title 71. Securities

NOTE:

Laws 1978, c. 170, § 2 repealed by Laws 1980, c. 166, § 7.