Okla. Stat. tit. 71, § 71-1-305

A. A registration statement may be filed by the issuer, a

person on whose behalf the offering is to be made, or a broker-

dealer registered under this act.

B. A person filing a registration statement shall pay the

filing fee set forth in Section 1-612 of this title. If a

registration statement is withdrawn before the effective date or a

preeffective stop order is issued under Section 1-306 of this title,

the Administrator shall retain the fee.

C. A registration statement filed under Section 1-303 and 1-304

of this title must specify:

1. The amount of securities to be offered in this state;

2. The states in which a registration statement or similar

record in connection with the offering has been or is to be filed;

and

3. Any adverse order, judgment, or decree issued in connection

with the offering by a state securities regulator, the Securities

and Exchange Commission, or a court.

D. A record filed under this act within five (5) years

preceding the filing of a registration statement may be incorporated

by reference in the registration statement to the extent that the

record is currently accurate.

E. In the case of a nonissuer distribution, information or a

record may not be required under subsection I of this section or

Section 1-304 of this title, unless it is known to the person filing

the registration statement or to the person on whose behalf the

distribution is to be made or unless it can be furnished by those

persons without unreasonable effort or expense.

F. A rule adopted or order issued under this act may require as

a condition of registration that a security issued within the

previous five (5) years or to be issued to a promoter for a

consideration substantially less than the public offering price or

to a person for a consideration other than cash be deposited in

escrow; and that the proceeds from the sale of the registered

security in this state be impounded until the issuer receives a

specified amount from the sale of the security either in this state

or elsewhere. The conditions of any escrow or impoundment required

Oklahoma Statutes - Title 71. Securities Page 34

under this subsection may be established by rule adopted or order

issued under this act, but the Administrator may not reject a

depository institution solely because of its location in another

state.

G. A rule adopted or order issued under this act may require as

a condition of registration that a security registered under this

act be sold only on a specified form of subscription or sale

contract and that a signed or conformed copy of each contract be

filed under this act or preserved for a period specified by the rule

or order, which may not be longer than five (5) years.

H. Except while a stop order is in effect under Section 1-306

of this title, a registration statement is effective for one (1)

year after its effective date, or for any longer period designated

in an order under this act during which the security is being

offered or distributed in a nonexempted transaction by or for the

account of the issuer or other person on whose behalf the offering

is being made or by an underwriter or broker-dealer that is still

offering part of an unsold allotment or subscription taken as a

participant in the distribution. For the purposes of a nonissuer

transaction, all outstanding securities of the same class identified

in the registration statement as a security registered under this

act are considered to be registered while the registration statement

is effective. If any securities of the same class are outstanding,

a registration statement may not be withdrawn until one (1) year

after its effective date. A registration statement may be withdrawn

only with the approval of the Administrator.

I. While a registration statement is effective, the person that

filed the registration statement shall file reports, not more often

than quarterly, to keep the information or other record in the
lass are outstanding,

a registration statement may not be withdrawn until one (1) year

after its effective date. A registration statement may be withdrawn

only with the approval of the Administrator.

I. While a registration statement is effective, the person that

filed the registration statement shall file reports, not more often

than quarterly, to keep the information or other record in the

registration statement reasonably current and to disclose the

progress of the offering.

J. A registration statement may be amended after its effective

date. The posteffective amendment becomes effective when the

Administrator so orders. If a posteffective amendment is made to

increase the number of securities specified to be offered or sold,

the person filing the amendment shall pay a registration fee as

provided in Section 1-612 of this title. A posteffective amendment

relates back to the date of the offering of the additional

securities being registered if, within one (1) year after the date

of the sale, the amendment is filed and the additional registration

fee is paid.

K. The records of an issuer registered or required to be

registered under this act are subject to such reasonable periodic,

special, or other audits or inspections by a representative of the

Administrator, within or without this state, as the Administrator

considers necessary or appropriate in the public interest and for

the protection of investors. An audit or inspection may be made at

Oklahoma Statutes - Title 71. Securities Page 35

any time and without prior notice. The Administrator may copy, and

remove for audit or inspection copies of, all records the

Administrator reasonably considers necessary or appropriate to

conduct the audit or inspection. The Administrator may assess a

reasonable charge for conducting an audit or inspection under this

subsection.