Oklahoma § 82-1324.41 - Definitions

§ 82-1324.41. Definitions

As used in this act:

1. "Acquiring party" means a person and all affiliates thereof

by whom or on whose behalf an acquisition of control referred to in

Section 6 of this act is to be effected;

2. "Affiliate" means a person who directly, or indirectly

through one or more intermediaries, controls, or is controlled by,

or is under common control with, the person specified, including any

corporation created at the direction of the person specified, for

purposes of corporate reorganization;

3. "Assets" in the case of a district or corporation means the

physical plant, equipment, accounts receivable, accounts payable and

all other assets of such district or corporation;

4. "Board" means the Oklahoma Water Resources Board;

5. "Control", including the terms "controlling" or "controlled

by", and "under common control with", means the possession, direct

or indirect, of the power to direct or cause the direction of the

management and policies of a person, whether through ownership, by

contract, purchase of assets, or otherwise, unless such power is the

result of an official position with, or corporate office held in,

such person. Control shall be presumed to exist if any person,

directly or indirectly, owns or controls the assets of such district

or corporation. This presumption may be rebutted by showing that

control does not exist in fact. The Board may determine, after

furnishing all persons in interest notice and opportunity to be

heard and making specific findings of fact to support such

determination, that control exists in fact, notwithstanding the

absence of a presumption to that effect;

6. "Corporation" means a not-for-profit corporation organized:

a.

pursuant to the provisions of the Oklahoma General

Corporation Act, Section 1001 et seq. of Title 18 of

the Oklahoma Statutes, for a purpose not involving

pecuniary gain to its shareholders or members, paying

no dividends or other pecuniary remuneration, directly

or indirectly, to its shareholders or members as such

and having no capital stock, and

b.

for the purpose of developing and providing rural

water supplies to serve rural residents;

7. "District" means a public nonprofit water district created

pursuant to the Rural Water, Sewer, Gas and Solid Waste Management

Districts Act, Section 1324.1 et seq. of Title 82 of the Oklahoma

Statutes; and

8. "Person" means an individual, a corporation, a partnership,

an association, a joint stock company, a trust, an unincorporated

organization, any similar entity or any combination of the foregoing

acting in concert, but shall not include any securities broker

performing no more than the usual and customary broker's function.

Oklahoma Statutes - Title 82. Waters and Water Rights

Added by Laws 1994, c. 339, § 5, emerg. eff. June 8, 1994.