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§ 2008. Change in ownership--Bond or letter of credit

Oklahoma Statutes AnnotatedTitle 59. Professions and Occupations

Oklahoma Statutes Annotated
Title 59. Professions and Occupations (Refs & Annos)
Chapter 46. Oklahoma Health Spa Act (Refs & Annos)
59 Okl.St.Ann. § 2008
§ 2008. Change in ownership--Bond or letter of credit
For purposes of the Oklahoma Health Spa Act, a health spa shall be considered a new health spa and subject to the requirements of a bond or letter of credit at the time the health spa changes ownership. A change in ownership shall not release, cancel or terminate liability under any bond or letter of credit previously filed unless the Administrator agrees in writing to such release, cancellation or termination because the new owner has filed a new bond or letter of credit for the benefit of the previous owner's members or because the former owner has refunded all unearned payments to its members.

Credits

Laws 1987, c. 217, § 10, eff. Nov. 1, 1987; Laws 1988, c. 215, § 7, eff. Nov. 1, 1988. Renumbered from Title 15, § 775.8 by Laws 1988, c. 215, § 12, eff. Nov. 1, 1988.
59 Okl. St. Ann. § 2008, OK ST T. 59 § 2008
Current with emergency effective legislation through Chapter 257 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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