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§ 907. Board of directors

Oklahoma Statutes AnnotatedTitle 18. Corporations

Oklahoma Statutes Annotated
Title 18. Corporations (Refs & Annos)
Chapter 20. Oklahoma Business Development Corporation Act
18 Okl.St.Ann. § 907
§ 907. Board of directors
The business and affairs of a corporation shall be conducted by a board of directors. The number of directors shall be a multiple of three with a minimum of fifteen and a maximum of twenty-one. Two-thirds (2/3) of the directors shall be elected by the members, and one-third (1/3) shall be elected by the stockholders. One-third (1/3) of the original board shall be elected for a term of one (1) year, one-third (1/3) for a term of two (2) years, and one-third (1/3) for a term of three (3) years; all directors subsequently elected shall serve for a term of three (3) years. Any vacancy in the office of a director elected by the members shall be filled by the directors elected by the members, and any vacancy in the office of a director elected by the stockholders shall be filled by the directors elected by the stockholders.

Credits

Laws 1970, c. 187, § 7, emerg. eff. April 13, 1970.
18 Okl. St. Ann. § 907, OK ST T. 18 § 907
Current with legislation of the First Regular Session of the 59th Legislature (2023) and the First Extraordinary Session of the 59th Legislature (2023). Some sections may be more current, see credits for details.
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