Okla. Stat. tit. 71, § 71-627

documents and information.

A. Within ninety (90) days from the date of filing a completed

application for registration, the Administrator shall issue an order

registering the subdivided lands or denying the application for

registration. If an order of denial is not issued within ninety

(90) days, the land shall be deemed registered unless the applicant

has consented to a delay or the application has been withdrawn. If

any amendment to the application for registration is filed prior to

the time when the land shall be deemed registered, the application

shall be deemed to have been filed when the amendment was filed.

B. An application for registration may be filed by the

subdivider or any other person on whose behalf the sales are to be

made, but the Administrator may require that it be executed by the

subdivider.

C. Any document filed under this Code within five (5) years

preceding the filing of an application for registration may be

incorporated by reference in the application for registration to the

extent that the document is currently accurate.

D. The Administrator may by rule or otherwise permit the

omission of any item of information or document from any application

for registration.

E. The Administrator may, as a condition of registration and at

the expense of the subdivider as specified in subsection A of

Section 652 of this title, investigate any subdivision required to

be registered under this Code for the purpose of verifying

statements contained in the application for registration and for the

Oklahoma Statutes - Title 71. Securities Page 143

protection of prospective purchasers. For the purposes of such

investigation, the Administrator may:

1. Require that a report or opinion by an independent

accountant, engineer, appraiser or other expert be prepared and

filed;

2. Make an examination of the business and records of the

applicant or subdivider;

3. Use and rely on any relevant information or data concerning

a subdivision obtained by the Administrator from any federal, state

or local government or agency thereof;

4. Conduct an on-site inspection of each subdivision;

5. Conduct an annual on-site reinspection of each subdivision

for each of the three (3) years after the expiration date of the

registration or any renewal thereof;

6. Make on-site examinations or designate a representative to

make such examinations. Where additional technical, expert or

special services are used, the actual cost of such services may be

charged directly to and shall be paid by the subdivider being

examined; and

7. Where an on-site inspection of any subdivision has been made

under this Code, an inspection of adjacent subdivided lands for

which a subsequent application for registration is filed may be

waived and an inspection thereof may be made at the time of the next

succeeding on-site inspection.

F. The Administrator may require that any subdivided lands be

sold by use of a specified form contract or agreement, and that a

signed copy or conformed copy of such signed copy be filed with the

Administrator or preserved by the subdivider for a period of up to

five (5) years.

G. The Administrator may by rule or otherwise impose other

conditions under which subdivided lands registered under this Code

may be sold, provided such conditions are reasonable and in the

public interest. The Administrator may require an escrow, trust or

similar arrangement to reasonably assure that all improvements

referred to in the application for registration will be completed

and that purchasers will receive the interests in land for which

they have contracted.

H. A registration is effective for one (1) year from its

effective date or for such longer period as the Administrator may

permit by rule or order. No application for registration or

effective registration may be withdrawn at any time after its filing

unless permitted by rule or order of the Administrator. No
that purchasers will receive the interests in land for which

they have contracted.

H. A registration is effective for one (1) year from its

effective date or for such longer period as the Administrator may

permit by rule or order. No application for registration or

effective registration may be withdrawn at any time after its filing

unless permitted by rule or order of the Administrator. No

registration is effective during the time a stop order is in effect

under Section 628 of this title.

I. During the effective period of a registration, the

Administrator may by rule or order require the person who filed the

application for registration to file reports, not more often than

Oklahoma Statutes - Title 71. Securities Page 144

quarterly, to keep reasonably current the information contained in

the application for registration and to disclose the progress of the

sales. If any of the lands registered have been sold in this state,

the Administrator may by rule or order extend the period for filing

the reports for an additional period not exceeding two (2) years

from the date the registration became effective or the date of the

registration period's latest extension.

J. The subdivider or registrant shall immediately report to the

Administrator any material changes in the information contained in

the application for registration.

K. Upon the expiration of an effective registration, the

Administrator may renew the registration for an additional period of

one (1) year provided the registrant is in compliance with this

Code, files such reports and applications as the Administrator may

require, and pays an annual renewal fee as required by Section 652

of this title, which fee shall not exceed the original registration

fee.