Okla. Admin. Code § 5:11-3-10

Current through Vol. 42, No. 8, January 2, 2025

Section 5:11-3-10 - Report of change of controlling interest

(a) The holder of a certificate of authority or a permit shall report a change of controlling interest to the Board within 10days after the change of control becomes effective, unless such time period is extended upon request to the Board. Such report shall include:

(1) the number of shares or percentage interest sold and by whom and

(2) the number of shares or percentage interest purchased and by whom.

(b) As used in this section, the term 'controlling interest' means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policy of the holder of a certificate of authority or permit as represented by an ownership interest. A change in ownership of 40% or more of the voting stock, entity interest, or individual interest of a holder of a certificate of authority or permit shall be reported as a change of controlling interest to the Board.

Okla. Admin. Code § 5:11-3-10

Added at 27 Ok Reg 1687, eff 7-1-10

Amended by Oklahoma Register, Volume 31, Issue 24, September 2, 2014, eff. 9/15/2014