§71-405. Repealed by Laws 2003, c. 347, § 53, eff. July 1, 2004.
592 words·~3 min read·
/ok/title-71-securities/71-405A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
NOTE: Prior to repeal, this section was amended to read as follows:
(a)The Administrator in his or her discretion:
(1)may make such public or private investigations within or outside of this state as he deems necessary to determine whether any person has violated or is about to violate any provision of this act or any rule or order hereunder, or to aid in the enforcement of this act or in the prescribing of rules and forms hereunder; and
(2)may require or permit any person to file a statement in writing, under oath or otherwise as the Administrator determines, as
to all the facts and circumstances concerning the matter to be investigated.
(b)For the purpose of any investigation or proceeding under this act, the Administrator, or his or her designee, may administer oaths and affirmations, subpoena witnesses, compel their attendance, take evidence, and require the production of any books, papers, correspondence, memoranda, agreements, or other documents or records deemed relevant or material to the inquiry.
(c)In case of contumacy by, or refusal to obey a subpoena issued to, any person, the district court of Oklahoma county or the district court in any other county where service can be obtained on one or more of the defendants, upon application by the Administrator, may issue to the person an order requiring such person to appear before the Administrator, or the officer designated by the Administrator, there to produce documentary evidence or to testify about the matter under investigation or in question. The court may also grant injunctive relief, including restricting or prohibiting the offer or sale of securities or the providing of investment advice. Failure to obey the order of the court may be punished by the court as a contempt of court.
(d)No person is excused from attending and testifying or from producing any document or record before the Administrator, or his or her designee, or in obedience to the subpoena of the Administrator or his or her designee, or in any proceeding instituted by the Administrator, on the ground that the testimony or evidence (documentary or otherwise) required of the person may tend to incriminate the person or subject the person to a penalty or forfeiture; but no individual may be prosecuted or subjected to any penalty or forfeiture for or on account of any transaction, matter, or thing concerning which the individual is compelled, after claiming privilege against self-incrimination, to testify or produce evidence (documentary or otherwise), except that the individual testifying is not exempt from prosecution and punishment for perjury or contempt committed in testifying.
(e)In addition to the investigations authorized by Section 405(a) of this title, the Administrator or a designated member of his staff shall examine as soon as possible all reports filed under this act for the purpose of determining whether additional information is required or whether additional investigation should be made. The Administrator is authorized to require the filing of any additional information which he deems necessary to correct any errors or deficiencies in any reports required to be filed. Added by Laws 1959, p. 343, § 405, eff. July 1, 1959. Amended by Laws 1978, c. 184, § 3, emerg. eff. April 11, 1978; Laws 1989, c. 150, § 4, operative July 1, 1989; Laws 1995, c. 196, § 15, eff. July 1, 1995; Laws 1997, c. 279, § 15, eff. July 1, 1997; Laws 2003, c. 493, § 5, eff. Nov. 1, 2003.
NOTE: Laws 1978, c. 170, § 2 repealed by Laws 1980, c. 166, § 7.