Unless the context clearly indicates otherwise, as used in Sections 1 through 13 of this act:
- 1. "Broker" means a real estate broker as defined in Section 858-102 of Title 59 of the Oklahoma Statutes, and means, further, except where the context refers only to a real estate broker, an associated broker associate, sales associate, or provisional sales associate authorized by a real estate broker to provide brokerage services;
- 2. "Party" means a person who is a seller, buyer, landlord, or tenant or a person who is involved in an option or exchange;
- 3. "Single-party broker" means a broker who has entered into a written brokerage agreement with a party in a transaction to provide services for the benefit of that party;
- 4. "Transaction" means those real estate activities enumerated in Section 858-102 of Title 59 of the Oklahoma Statutes which are performed by a broker; and
- 5. "Transaction broker" means a broker who provides services by assisting a party in a transaction without being an advocate for the benefit of that party.
Laws 1999, HB 1178, c. 194, § 1, eff. November 1, 2000.