Oklahoma § 71-807 - Registration procedure

§ 71-807. Registration procedure

A. In order to register a business opportunity, the seller

shall file with the Administrator a disclosure document prepared

pursuant to Section 808 of this title with the appropriate cover

sheet as required by Section 808 of this title, a consent to service

of process as specified in subsection B of this section, the

appropriate fee set forth in Section 829 of this title, and any

other information determined by the Administrator to be necessary.

B. Every seller shall file the consent to service of process

required by Section 818 of this title.

C. A registration automatically becomes effective upon the

expiration of fifteen (15) full business days after a complete

filing, provided that no order has been issued or that no proceeding

is pending pursuant to Section 810 of this title. The Administrator

may by order waive or reduce the time period prior to effectiveness,

provided that a complete filing has been made. The Administrator

may by order defer the effective date until the expiration of

fifteen (15) full business days after the filing of any amendment.

For purposes of this subsection, a filing shall be deemed complete

upon receipt by the Administrator of the items described in

subsections A and B of this section.

D. The registration is effective for one (1) year commencing on

the day of effectiveness and may be renewed annually upon the filing

of a current disclosure document accompanied by any documents or

information that the Administrator may by rule or order require. A

renewal fee as set forth in Section 829 of this title shall

accompany each request for renewal. Failure to renew upon the close

of the one-year period of effectiveness will result in expiration of

the registration. The Administrator may by rule or order require

the filing of a sales report and payment of a report filing fee as

set forth in Section 829 of this title.

E. The Administrator may by rule or order require the filing of

all proposed literature or advertising prior to its use and payment

of the review fee as set forth in Section 829 of this title for each

sales literature or advertising package.

Added by Laws 1985, c. 157, § 7, eff. Nov. 1, 1985. Amended by Laws

1989, c. 150, § 13, operative July 1, 1989; Laws 1997, c. 279, § 25,

eff. July 1, 1997; Laws 1999, c. 109, § 15, eff. July 1, 1999; Laws

2022, c. 77, § 43, eff. Nov. 1, 2022.