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2021 NOTICES OF RULE MAKING INTENT - HOME
TITLE 660. DEPARTMENT OF SECURITIES
CHAPTER 20. OKLAHOMA SUBDIVIDED LAND SALES CODE
 
RULEMAKING ACTION:
  Notice of proposed PERMANENT rulemaking
PROPOSED RULES:
  Subchapter 1. General Provisions
660:20-1-3. Definitions [AMENDED]
Subchapter 3. Registration of Subdivided Land
660:20-3-1. Registration procedure [AMENDED]
660:20-3-3. Public offering statement [AMENDED]
Subchapter 9. Advertising Guidelines
660:20-9-6. Review of advertising [AMENDED]
660:20-9-7. Standards of review [AMENDED]
660:20-9-8. Guidelines for advertising [AMENDED]
SUMMARY:
 

The proposed rule amendments conform the rules with the Administrative Procedures Act of Oklahoma, clarify the organization of the Department and responsibilities of Department personnel, remove unnecessary language in furtherance of Executive Order 2020-03, and correct grammatical errors.

The Administrator finds that the subject rule amendments are necessary or appropriate in the public interest or for the protection of investors and are consistent with the purposes intended by the Oklahoma Uniform Securities Act of 2004, the Oklahoma Business Opportunity Sales Act, and the Oklahoma Subdivided Land Sales Code.

AUTHORITY:
 

Administrator, Oklahoma Department of Securities; 71 O.S. 1-605, 1-608

COMMENT PERIOD:
 

Persons wishing to present their views in writing may do so before 4:30 p.m., March 18, 2021, at the Oklahoma Department of Securities, City Place, 204 North Robinson Avenue, Suite 400, Oklahoma City, OK 73102-7001.

PUBLIC HEARING:
 

A public hearing will be held at 10:00 a.m. on Thursday, March 25, 2021, to provide an opportunity for persons to orally present their views. Each person will be allowed a maximum of 10 minutes to speak. The hearing will be held virtually and information to access the meeting will be posted on the Department's website, www.securities.ok.gov, at least three days prior to the hearing, or you may contact the Department at 405-280-7700 for the access information. Should you wish to speak in the meeting, please log in by 9:45 a.m. and announce your name when requested.

REQUEST FOR COMMENTS FROM BUSINESS ENTITIES:
 

Business entities should evaluate the effect of the proposed amendments upon their business operations. The Department requests that business entities that would be affected by the proposed amendments provide the Department, within the comment period, in dollar amounts, if possible, any increase in the level of direct costs, indirect costs, or other costs expected to be incurred due to compliance with the proposed amendments. Business entities may submit this information in writing to Gerri Kavanaugh, at the above address, before the close of the comment period on March 18, 2021.

COPIES OF PROPOSED RULES:
 

The public may access copies of the rules with proposed amendments on the Department’s website at www.securities.ok.gov or obtain copies for review between 8:00 a.m. and 4:30 p.m., Monday through Friday, at the offices of the Oklahoma Department of Securities, City Place, 204 North Robinson Avenue, Suite 400, Oklahoma City, OK 73102-7001, telephone (405) 280-7700.

RULE IMPACT STATEMENT:
 

A rule impact statement will be available as of March 3, 2021, at the Oklahoma Department of Securities (address, telephone number, times, and website as listed above).

CONTACT PERSON:
 

Gerri Kavanaugh, Attorney, Oklahoma Department of Securities, (405) 280-7721