Okla. Emergency Price Stabilization Act in effect - KSWO, Lawton, OK- Wichita Falls, TX: News, Weather, Sports. ABC, 24/7, Telemundo -

Okla. Emergency Price Stabilization Act in effect

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OKLAHOMA CITY (AP) - Oklahoma's Emergency Price Stabilization Act is now in effect with the declaration by Gov. Mary Fallin of a state of emergency due to a winter storm moving across the state.

The governor issued the declaration Thursday for all 77 Oklahoma counties after the storm moved into the state.

The Price Stabilization Act is intended to prohibit price gouging by limiting price increases to no more than 10 percent for most goods and services after a state of emergency is declared.

The statute was adopted following the May 1999 tornadoes that caused significant damage across Oklahoma.

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