SECTION 460:10-21-3. Definitions

  The following words or terms, when used in this Subchapter shall have the following meaning, unless the context clearly indicates otherwise:

"Cash" means:

(A)   all cash items except cash

(i)   restricted by an agreement, or

(ii)   described as earmarked for a particular purpose; and

(B)   short-term investments such as stocks, bonds, notes, and certificates of deposit, where the intent and ability to sell them in the near future is established by the operator;

(C)   all occurred interest shall be payable to the permittee upon demand.

"Collateral bond" means an indemnity agreement in a sum certain payable to the Department or executed by the permittee and supported by one or more of the following:

(A)   The deposit of cash in one or more federally insured accounts, payable only to the Department on demand.

(B)   Negotiable bonds of the United States, the State of Oklahoma, or a municipalize, endorsed to the order of, and in the possession of, the Department;

(C)   Negotiable certificates of deposit, payable only to the Department and in its possession;

(D)   An irrevocable letter of credit of any bank organized or authorized to transact business in the United States, payable only upon presentation by the Department.

"Surety bond" means an indemnity agreement in a sum certain payable to the Department executed by the permittee which is supported by the performance guarantee of a corporation licensed to do business as a surety in Oklahoma.