Any corporation borrowing money, securing any indebtedness, accepting grants, applying to borrow money, to secure any indebtedness, or to accept grants from the United States of America, or any instrumentality, agency or department thereof, which entitles that corporation to a protected service area under 7 U.S.C., Section 1926(b), and any amendments thereto, must first have […]
POWERS RESPECTING SECURITIES OF OTHER CORPORATIONS OR ENTITIES Any corporation organized under the laws of this state may guarantee, purchase, take, receive, subscribe for or otherwise acquire; own, hold, use or otherwise employ; sell, lease, exchange, transfer, or otherwise dispose of; mortgage, lend, pledge or otherwise deal in and with, bonds and other obligations of, […]
LACK OF CORPORATE CAPACITY OR POWER, EFFECT; ULTRA VIRES No act of a corporation and no conveyance or transfer of real or personal property to or by a corporation shall be invalid by reason of the fact that the corporation was without capacity or power to do such act or to make or receive such […]
PRIVATE FOUNDATIONS; POWERS AND DUTIES A corporation of this state which is a private foundation under the United States internal revenue laws and whose certificate of incorporation does not expressly provide that this section shall not apply to it is required to act or to refrain from acting so as not to subject itself to […]
LIMITATIONS UPON REAL ESTATE OWNERSHIP A. No corporation of any sort, whether coming within the general scope of the Oklahoma General Corporation Act or not, except as provided for in this section, shall own, hold, or take any real estate located in this state outside of any incorporated city or town, or any addition thereto. […]
REGISTERED OFFICE IN STATE; PRINCIPAL OFFICE OR PLACE OF BUSINESS IN STATE A. Every corporation shall have and maintain in this state a registered office which may, but need not be, the same as its place of business. B. Whenever the term “corporation’s principal office or place of business in this state” or “principal office […]
REGISTERED AGENT IN STATE; RESIDENT AGENT A. Every domestic corporation shall have and maintain in this state a registered agent, which agent may be any of the following: 1. The domestic corporation itself; 2. An individual resident of this state; 3. A domestic corporation, a domestic partnership whether general or limited and including a limited […]
CHANGE OF LOCATION OF REGISTERED OFFICE; CHANGE OF REGISTERED AGENT Any corporation, by resolution of its board of directors, may change the location of its registered office in this state to any other place in this state. By like resolution, the registered agent of a corporation may be changed to any other person or corporation, […]
CHANGE OF ADDRESS OR NAME OF REGISTERED AGENT A. A registered agent may change the address of the registered office of the corporation or corporations for which he or she is the registered agent to another address in this state by filing with the Secretary of State a certificate in the name of each affected […]
RESIGNATION OF REGISTERED AGENT COUPLED WITH APPOINTMENT OF SUCCESSOR The registered agent of one or more corporations may resign and appoint a successor registered agent by filing in the name of each affected corporation a certificate with the Secretary of State stating the name and address of the successor agent, in accordance with the provisions […]
RESIGNATION OF REGISTERED AGENT NOT COUPLED WITH APPOINTMENT OF SUCCESSOR; ABSENCE OF REGISTERED AGENT A. The registered agent of one or more corporations may resign without appointing a successor by filing in the name of each affected corporation a certificate of resignation with the Secretary of State; but a resignation shall not become effective until […]
BOARD OF DIRECTORS; POWERS; NUMBER; QUALIFICATIONS; TERMS AND QUORUM; COMMITTEES; CLASSES OF DIRECTORS; NONSTOCK CORPORATIONS; RELIANCE UPON BOOKS; ACTION WITHOUT MEETING; ETC. A. The business and affairs of every corporation organized in accordance with the provisions of the Oklahoma General Corporation Act shall be managed by or under the direction of a board of directors, […]
OFFICERS; TITLES, DUTIES, SELECTION, TERM; FAILURE TO ELECT; VACANCIES A. Every corporation organized in accordance with the provisions of the Oklahoma General Corporation Act shall have such officers with such titles and duties as shall be stated in the bylaws or in a resolution of the board of directors which is not inconsistent with the […]
LOANS TO EMPLOYEES AND OFFICERS; GUARANTY OF OBLIGATIONS OF EMPLOYEES AND OFFICERS Any corporation may lend money to, or guarantee any obligation of, or otherwise assist any officer or other employee of the corporation or of its subsidiary, including any officer or employee who is a director of the corporation or its subsidiary whenever, in […]
INTERESTED DIRECTORS; QUORUM A. No contract or transaction between a corporation and one or more of its directors or officers, or between a corporation and any other corporation, partnership, association, or other organization in which one or more of its directors or officers are directors or officers, or have a financial interest, shall be void […]
INDEMNIFICATION OF OFFICERS, DIRECTORS, EMPLOYEES AND AGENTS; INSURANCE A. A corporation shall have power to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending, or completed action, suit, or proceeding, whether civil, criminal, administrative, or investigative, other than an action by or in […]
CLASSES AND SERIES OF STOCK; RIGHTS, ETC. A. Every corporation may issue one or more classes of stock or one or more series of stock within any class thereof, any or all of which classes may be of stock with par value or stock without par value and which classes or series may have voting […]
ISSUANCE OF STOCK, LAWFUL CONSIDERATION – FULLY PAID STOCK A. The consideration, as determined pursuant to the provisions of subsections A and B of Section 1034 of this title, for subscriptions to, or the purchase of, the capital stock to be issued by a corporation shall be paid in such form and in such manner […]
CONSIDERATION FOR STOCK A. Shares of stock with par value may be issued for such consideration, having a value not less than the par value thereof, as is determined from time to time by the board of directors, or by the shareholders if the certificate of incorporation so provides. B. Shares of stock without par […]
DETERMINATION OF AMOUNT OF CAPITAL; CAPITAL, SURPLUS AND NET ASSETS DEFINED Any corporation, by resolution of its board of directors, may determine that only a part of the consideration which shall be received by the corporation for any of the shares of its capital stock which it shall issue from time to time shall be […]
