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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 emergency effective legislation through Chapter 3 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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