§ 775C.5. Exemptions
Oklahoma Statutes AnnotatedTitle 15. ContractsEffective: November 1, 2022
Effective: November 1, 2022
15 Okl.St.Ann. § 775C.5
§ 775C.5. Exemptions
Exempt from this act are the following:
2. A person soliciting for religious, charitable, political, or educational purposes. A person soliciting for other noncommercial purposes is exempt only if that person is soliciting for a nonprofit organization and if that organization is properly registered as such with the Secretary of State and is included within the exemption of Section 501(c)(3) or (6) of the Internal Revenue Code;1
3. A person who does not make the major sales presentation during the telephone solicitation and who does not intend to, and does not actually, complete or obtain provisional acceptance of a sale during the telephone solicitation, but who makes the major sales presentation and completes the sale at a later face-to-face meeting between the seller and the prospective purchaser. However, if a seller, directly following a telephone solicitation, causes an individual whose primary purpose is to go to the prospective purchaser to collect the payment or deliver any item purchased, this exemption does not apply;
4. A licensed securities, commodities, or investment broker, dealer, or investment adviser when soliciting within the scope of his or her license, or a licensed associated person of a securities, commodities, or investment broker, dealer, or investment adviser when soliciting within the scope of his or her license. As used in this section, “licensed securities, commodities, or investment broker, dealer, or investment adviser” means a person subject to license or registration by the Securities and Exchange Commission, by the Financial Industry Regulatory Authority or other self-regulatory organization as defined by the Securities Exchange Act of 1934, 15 U.S.C., Section 78l, or by an official or agency of this state or of any state of the United States. As used in this section, “licensed associated person of a securities, commodities, or investment broker, dealer, or investment adviser” means an associated person registered or licensed by the Financial Industry Regulatory Authority or other self-regulatory organization as defined by the Securities Exchange Act of 1934, 15 U.S.C., Section 78l, or by an official or agency of this state or of any state of the United States;
c. which provides for the sale of books, records, or videos which are not covered under subparagraph a or b of this paragraph, including continuity plans, subscription arrangements, standing-order arrangements, supplements, and series arrangements under which the seller periodically ships merchandise to a consumer who has consented in advance to receive such merchandise on a periodic basis;
7. A supervised financial institution or parent, subsidiary, or affiliate thereof operating within the scope of supervised activity. As used in this section, “supervised financial institution” means a commercial bank, trust company, savings and loan association, mutual savings bank, credit union, industrial loan company, consumer finance lender, commercial finance lender, or insurer; provided that the institution is subject to supervision by an official or agency of this state, of any state, or of the United States. For the purposes of this exemption, “affiliate” means a person who directly, or indirectly through one or more intermediaries, controls or is controlled by, or is under common control with, a supervised financial institution;
8. Any licensed insurance broker, agent, customer representative, or solicitor when soliciting within the scope of his or her license. As used in this section, “licensed insurance broker, agent, customer representative, or solicitor” means any insurance broker, agent, customer representative, or solicitor licensed by an official or agency of this state or of any state of the United States;
14. A telephone company subject to Title 17 of the Oklahoma Statutes, or affiliate thereof or its agents, or a telecommunications business that is regulated by the Oklahoma Corporation Commission, or a cellular telephone company licensed by the Federal Communications Commission or any of their authorized vendors or independent contractors or other bona fide radio telecommunication services provider. For the purposes of this exemption, “affiliate” means a person who directly, or indirectly through one or more intermediaries, controls or is controlled by, or is under common control with, a telephone company subject to Title 17 of the Oklahoma Statutes;
15. A person who is licensed pursuant to the Funeral Services Licensing Act in Title 59 of the Oklahoma Statutes2 and who is soliciting within the scope of the license;
16. An issuer or a subsidiary of an issuer that has a class of securities which is subject to Section 12 of the Securities Exchange Act of 1934, 15 U.S.C., Section 78l, and which is either registered or exempt from registration under subparagraph (a), subparagraph (b), subparagraph (c), subparagraph (e), subparagraph (f), subparagraph (g), or subparagraph (h) of subsection (G) of paragraph (2) of that section;
18. A person soliciting a transaction regulated by the Commodity Futures Trading Commission if the person is registered or temporarily licensed for this activity with the Commodity Futures Trading Commission under the Commodity Exchange Act, 7 U.S.C., Section 1 et seq., and the registration or license has not expired or been suspended or revoked;
23. A person licensed pursuant to The Oklahoma Real Estate License Code in Title 59 of the Oklahoma Statutes,3 soliciting within the scope of the license;
24. A publisher, or an agent of a publisher by written agreement, who solicits the sale of his or her periodical or magazine of general, paid circulation. The term “paid circulation” shall not include magazines that are only circulated as part of a membership package or that are given as a free gift or prize from the publisher or agent of the publisher by written agreement;
Credits
Laws 2022, c. 290, § 5, eff. Nov. 1, 2022.
15 Okl. St. Ann. § 775C.5, OK ST T. 15 § 775C.5
Current with emergency effective legislation through Chapter 125 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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