Oklahoma § 74-5073 - Definitions

§ 74-5073. Definitions

As used in this act:

1. "Director" means the Director of the Oklahoma Department of

Commerce;

2. "Incubator" means a facility in which small units of space

may be leased by a tenant and in which management maintains or

provides access to business development services for use by tenants;

3. "Sponsor" means an organization, with a registered office or

other office or offices in this state, which enters into a written

agreement with the Oklahoma Department of Commerce to establish,

operate, and administer a small business incubator facility or to

provide funding to an organization which operates such a facility,

including municipalities, universities, industrial and commercial

development authorities, redevelopment authorities, municipal

authorities, or any private nonprofit or for-profit organization

approved by the Oklahoma Department of Commerce; and

4. "Tenant" means a sole proprietorship, business partnership,

or corporation operating a business for profit and leasing or

otherwise occupying space in an incubator.

Added by Laws 1987, c. 228, § 3, eff. Jan. 1, 1988.