§ 1014. Emergency bylaws and other powers in emergency
Oklahoma Statutes AnnotatedTitle 18. Corporations
18 Okl.St.Ann. § 1014
§ 1014. Emergency bylaws and other powers in emergency
A. The board of directors of any corporation may adopt emergency bylaws which, notwithstanding any different provision in the Oklahoma General Corporation Act, in the certificate of incorporation, or bylaws, shall be operative during any emergency resulting from an attack on the United States or on a locality in which the corporation conducts its business or customarily holds meetings of its board of directors or its shareholders, or during any nuclear or atomic disaster, or during the existence of any catastrophe, or other similar emergency condition, as a result of which a quorum of the board of directors or a standing committee thereof cannot readily be convened for action. The emergency bylaws may make any provision that may be practical and necessary for the circumstances of the emergency, including provisions that:
3. The officers or other persons designated on a list approved by the board of directors before the emergency, all in such order of priority and subject to such conditions and for such period of time, not longer than reasonably necessary after the termination of the emergency, as may be provided in the emergency bylaws or in the resolution approving the list, shall, to the extent required to provide a quorum at any meeting of the board of directors, be deemed directors for such meeting.
G. To the extent required to constitute a quorum at any meeting of the board of directors during such an emergency, the officers of the corporation who are present shall, unless otherwise provided in emergency bylaws, be deemed, in order of rank and within the same rank in order of seniority, directors for such meeting.
H. Nothing contained in this section shall be deemed exclusive of any other provisions for emergency powers consistent with other sections of this act1 which have been or may be adopted by corporations created pursuant to the provisions of this act.
Credits
Laws 1986, c. 292, § 14, eff. Nov. 1, 1986; Laws 2001, c. 405, § 5, eff. Nov. 1, 2001.
Footnotes
Title 18, § 1001 et seq.
18 Okl. St. Ann. § 1014, OK ST T. 18 § 1014
Current with emergency effective legislation through Chapter 182 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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