The following lands, lots, interests and evidences of indebtedness are exempt from Section 621 of this Code: 1. Subdivided land offered or disposed of by the United States, any state, political subdivision of the state or any agency or corporate or other instrumentality of one or more of the foregoing; 2. Cemetery lots or interests; 3. Subdivided lands in which there are fewer than twenty lots or parcels intended for sale or lease, whether immediate or future; 4. Lots on which there is a residential, commercial or industrial building, or as to which there is a legal obligation on the part of the seller to construct such building within two (2) years of the date of disposition; 5. Evidences of indebtedness secured by a real estate mortgage or deed of trust; and 6. Such interests in subdivided lands as are regulated as securities under the Oklahoma Securities Act, as provided by this title, and the Administrator by rule or order exempts.
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