As used in this act: 1. 'Director' means the Director of the Oklahoma Department of Commerce;2. 'Incubator' means a facility in which small units of space may be leased by a tenant and in which management maintains or provides access to business development services for use by tenants; 3. 'Sponsor' means an organization, with a registered office or other office or offices in this state, which enters into a written agreement with the Oklahoma Department of Commerce to establish, operate, and administer a small business incubator facility or to provide funding to an organization which operates such a facility, including municipalities, universities, industrial and commercial development authorities, redevelopment authorities, municipal authorities, or any private nonprofit or for-profit organization approved by the Oklahoma Department of Commerce; and4. 'Tenant' means a sole proprietorship, business partnership, or corporation operating a business for profit and leasing or otherwise occupying space in an incubator.Added by Laws 1987, c. 228, § 3, eff. Jan. 1, 1988.
Oklahoma Legal Code