Okla. Stat. tit. 62 § 2203.2

Current through Laws 2024, c. 453.

Section 2203.2 - Definitions

As used in the Oklahoma Disaster Relief Materials Price Stabilization Act:

1. "Cost to the retailer" means the invoice cost of the merchandise to the retailer or the replacement cost of the merchandise to the retailer, whichever is the lower; less all trade discounts except customary discounts for cash; to which shall be added:

a. freight charges not otherwise included in the invoice cost or the replacement cost of the merchandise,

b. cartage to the retail outlet if done or paid for the retailer, which cartage cost, in the absence of proof of a lesser cost, shall be deemed to be three-fourths of one percent (3/4 of 1%) of the cost to the retailer as herein defined after adding freight charges, but before adding cartage and taxes,

c. all state and federal taxes, and

d. a markup to cover a proportionate part of the cost of doing business, which markup, in the absence of proof of a lesser cost, shall be six percent (6%) of the cost of the retailer after adding freight charges and cartage, but before adding a markup;

2. "Cost to the wholesaler" means the invoice cost of the merchandise to the wholesaler, or the replacement cost of the merchandise to the wholesaler, whichever is the lower; less all trade discounts except customary discounts for cash; to which shall be added:

a. freight charges, not otherwise included in the invoice cost or the replacement cost of the merchandise,

b. cartage to the retail outlet if done or paid for by the wholesaler, which cartage cost, in the absence of proof of a lesser cost, shall be deemed to be three-fourths of one percent (3/4 of 1%) of the cost to the wholesaler after adding freight charges, but before adding cartage and taxes, and

c. all state and federal taxes;

3. "Disaster relief materials" means those structural elements that typically sustain damage during temporary conditions, including, but not limited to: lumber and lumber composites, engineered wood products, structural wood panels, roofing, guttering, siding, drywall, insulation, flooring, windows, doors and plumbing elements;

4. "Excessive price" means a price exceeding one hundred ten percent (110%) of the highest price charged by the retailer or wholesaler for the item within the previous thirty (30) days;

5. "Replacement costs" means the cost per unit at which the merchandise sold or offered for sale could have been bought by the seller at any time within thirty (30) days prior to the date of sale or the date upon which it is offered for sale by the seller if bought in the same quantity or quantities as the seller's last purchase of such merchandise;

6. "Retailer" means and includes every person, partnership, corporation or association engaged in the business of making sales of retail disaster relief materials within this state; provided that, in the case of a person, partnership, corporation or association engaged in the business of making both sales at retail and sales at wholesale, such term shall be applied only to the retail portion of such business;

7. "Sell at retail", "sales at retail", "retail sale", "sell at wholesale", "sales at wholesale" or "wholesale sales" means any transfer for a valuable consideration made in the ordinary course of trade or the usual conduct of the seller's business of title to personal property to the purchaser for purposes of resale or further processing or manufacturing. The above terms shall include any transfer of such property where title is retained by the seller as security for the payment of the purchase price;

8. "Temporary conditions" means conditions lasting seven (7) days or less such as tornado, hail storm, ice storm or blizzard. It does not include conditions lasting longer than seven (7) days such as drought or low temperatures; and

9. "Wholesaler" means and includes every person, partnership, corporation or association engaged in the business of making sales of wholesale disaster relief materials within this state; provided that, in the case of a person, partnership, corporation or association engaged in the business of making both sales at wholesale and sales at retail, such term shall be applied only to the wholesale portion of such business.

Okla. Stat. tit. 62, § 2203.2

Added by Laws 2013, c. 400,s. 3, eff. 11/1/2013.