Okla. Stat. tit. 71, § 71-623

The following transactions are exempt from Section 621 of this

Code:

1. Offer or disposition of subdivided lands located within the

State of Oklahoma;

2. Offer or disposition by a purchaser of subdivided lands for

his own account in a single or isolated transaction;

3. Offer or disposition of subdivided lands if not more than

ten lots are offered in any period of twelve (12) consecutive

months;

4. Offer or disposition of lots to persons who are engaged in

the business of construction of buildings for resale, or to persons

who acquire an interest in subdivided lands for the purpose of

engaging, and do engage in, the business of construction of

buildings for resale;

5. Offer or disposition pursuant to an order of a court of

competent jurisdiction;

6. Offer or disposition of lots, each of which will be sold for

less than One Hundred Dollars ($100.00), including closing costs,

provided that the purchaser will not be required to purchase more

than one lot;

7. Such leases of lots which the Administrator by rule or order

exempts which are for periods not in excess of five (5) years,

provided the terms of the lease do not obligate the lessee to renew;

Oklahoma Statutes - Title 71. Securities Page 137

8. Offer or disposition of subdivided lands if each lot within

the subdivision exceeds ten (10) acres in size;

9. Sales of securities issued by a real estate investment

trust; and

10. Any other transaction as to which the Administrator by rule

or order finds that registration is not necessary or appropriate for

the protection of purchasers.