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§ 417. Discrimination prohibited

Oklahoma Statutes AnnotatedTitle 71. Securities

Oklahoma Statutes Annotated
Title 71. Securities (Refs & Annos)
Chapter 1. Oklahoma Uniform Securities Act of 2004 (Refs & Annos)
Article 7. Transition
Multinational Corporation Take-over Bid
71 Okl.St.Ann. § 417
§ 417. Discrimination prohibited
No offeror shall make a multinational corporation take-over bid which is not made to all holders residing in this state of the equity security that is the subject of such multinational corporation take-over bid, or which is not made to such holders on the same terms as such multinational corporation take-over bid is made to holders of such equity security not residing in this state. If an offeror makes a tender offer or request or invitation for tenders for less than all the outstanding equity securities of a class, and if a greater number of securities is deposited pursuant thereto within ten (10) days after copies of the offer or request or invitation for tenders are first published or sent or given to security holders that such offeror is bound or willing to take up and pay for, the securities shall be taken up as nearly as may be pro rata, disregarding fractions, according to the number of securities deposited by each offeree. This section shall apply to securities deposited within ten (10) days after notice of an increase in the consideration offered to security holders, as described in this section, is first published or sent or given to security holders. If the terms of a multinational corporation take-over bid are changed before its expiration by increasing the consideration offered to offerees, the offeror shall pay the increased consideration for all equity securities taken up, whether the same are deposited or taken up before or after the change in the terms of the multinational corporation take-over bid.

Credits

Laws 1980, c. 300, § 4, emerg. eff. June 12, 1980.
<The Oklahoma Uniform Securities Act of 2004, incorporated in this title as §§ 1-101 to 1-701, was enacted by Laws 2003, c. 347, effective July 1, 2004. See transitional provisions in § 1-701 of this title.>
<The Oklahoma Securities Act, consisting of §§ 1 et seq., 201 et seq., 301 et seq., 401 et seq., and 501; and §§ 701 to 703, of Title 71, was repealed by Laws 2003, c. 347, § 53, effective July 1, 2004.>
<For disposition of the subject matter of the repealed sections to the Oklahoma Securities Act of 2004, see the Disposition Table, post.>
71 Okl. St. Ann. § 417, OK ST T. 71 § 417
Current with emergency effective legislation through Chapter 295 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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