A. For purposes of the exemption authorized pursuant to subsection B of Section 6 of Article X of the Oklahoma Constitution, "livestock employed in support of the family" means all horses, cattle, mules, asses, sheep, swine, goats, poultry and any other livestock.
B. Except as provided in subsection C of this section, for purposes of the exemption authorized pursuant to subsection B of Section 6 of Article X of the Oklahoma Constitution, and for purposes of this section, livestock owned by a general partnership, limited partnership, corporation, limited liability company, estate, trust or other lawfully recognized entity shall be deemed to be livestock employed in support of the family, provided at least fifty percent (50%) of the owners of the entity shall be residents of this state to qualify for the exemption.
C. Animals owned wholly or in part by a publicly traded corporation or a corporation incorporated in a state other than this state shall not qualify for the exemption authorized pursuant to subsection B of Section 6 of Article X of the Oklahoma Constitution as livestock employed in support of the family.
Added by Laws 1994, c. 51, § 1, eff. Sept. 1, 1994. Amended by Laws 2012, c. 193, § 1, eff. Jan. 1, 2013; Laws 2021, c. 433, § 1, eff. Jan. 1, 2022.