Unless the context otherwise requires, or unless defined in this Section, terms used in this Chapter, if defined in the Land Sales Code shall have the meaning as defined in the Land Sales Code. The following words and terms, when used in this Chapter, shall have the following meaning, unless the context clearly indicates otherwise:

"CFPB" means the Consumer Financial Protection Bureau.

"Director of Corporate Finance" means the Department employee who leads the division responsible for the registration of securities, business opportunities, and subdivided lands as well as any exemptions from such registration requirements.

"Department" means the Oklahoma Department of Securities.

"Land Sales Act" means the most recent codification of the Oklahoma Subdivided Land Sales Code, 71 O.S., Sections 601 through 667.

"Vacation certificates" means any material associated with a plan whereby a prospective purchaser would be entitled to lodging, food or other amenities and that is used by subdividers or their agents or distributors or any other person to induce prospective purchasers to visit the subdivision or attend or submit to a sales presentation by a subdivider or its agents or its distributors or any other person.

Amended at 37 Ok Reg 2219, eff 11-1-20

Amended at 38 Ok Reg 2532, eff 11-1-21