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§ 427.15a. “Publicly traded company” defined--Authority to purchase equity

Oklahoma Statutes AnnotatedTitle 63. Public Health and SafetyEffective: May 28, 2021

Oklahoma Statutes Annotated
Title 63. Public Health and Safety (Refs & Annos)
Chapter 15. Narcotic Drugs
Medical Marijuana and Patient Protection Act
Effective: May 28, 2021
63 Okl.St.Ann. § 427.15a
§ 427.15a. “Publicly traded company” defined--Authority to purchase equity
For purposes of this section, “publicly traded company” means a business entity organized under the laws of the United States or Canada where the domicile for the business entity permits the sale of marijuana and such business entity has a class of securities that are registered and traded for investment pursuant to the Security Exchange Act of 1934 or listed and traded for investment on a reputable recognized foreign stock exchange or foreign market exchange.
On and after the effective date of this act, a publicly traded company as defined herein is authorized to purchase up to forty percent (40%) of the equity in an existing Oklahoma business that holds a valid Oklahoma medical marijuana grower, processor or transporter license; provided, however, the only Oklahoma business qualified for investment or equity purchase under this section must have held a valid medical marijuana grower, processor or transporter license for at least eighteen (18) months prior to the investment or equity purchase and must be currently operating in good standing in this state. A licensed medical marijuana dispensary shall not be qualified for investment or equity purchase under the provisions of this section.

Credits

Laws 2021, c. 584, § 9, emerg. eff. May 28, 2021.
63 Okl. St. Ann. § 427.15a, OK ST T. 63 § 427.15a
Current with emergency effective legislation through Chapter 329 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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