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§ 643. Contracts--Voiding--Rescinding--Revoking

Oklahoma Statutes AnnotatedTitle 71. Securities

Oklahoma Statutes Annotated
Title 71. Securities (Refs & Annos)
Chapter 2. Oklahoma Subdivided Land Sales Code
Article IV. Sales Practices
71 Okl.St.Ann. § 643
§ 643. Contracts--Voiding--Rescinding--Revoking
Currentness
In connection with dispositions of subdivided lands required to be registered under this Code:1
1. Any contract or agreement for the disposition is voidable at the discretion of the purchasers if the public offering statement has not been given to the purchasers as required by subsection A of Section 626 of this Code; and
2. A purchaser has an unconditional right to rescind any contract, agreement or other evidence of indebtedness, or to revoke any offer, until five (5) days after the date the purchaser actually receives a legible copy of the signed contract, agreement or other evidence of indebtedness or offer and the public offering statement. Until five (5) days after a purchaser actually receives all documents, a right to rescind may be exercised. Predating of a document does not defeat the time in which the right to rescind may be exercised.

Credits

Laws 1977, c. 95, § 643.

Footnotes

1
Title 71, § 601 et seq.
71 Okl. St. Ann. § 643, OK ST T. 71 § 643
Current with emergency effective legislation through Chapter 106 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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