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§ 1145. Control shares; definition

Oklahoma Statutes AnnotatedTitle 18. Corporations

Oklahoma Statutes Annotated
Title 18. Corporations (Refs & Annos)
Chapter 23. Control Share Provisions
General Provisions
18 Okl.St.Ann. § 1145
§ 1145. Control shares; definition
CONTROL SHARES; DEFINITION
As used in Sections 1145 through 1155 of this title, “control shares” means issued and outstanding shares of an issuing public corporation that, except for Sections 1145 through 1155 of this title, would have voting power, when added to all other shares of the issuing public corporation owned of record or beneficially by an acquiring person or in respect to which that acquiring person may exercise or direct the exercise of voting power, that would entitle the acquiring person, immediately after acquisition of the shares, directly or indirectly, to exercise or direct the exercise of the voting power of the issuing public corporation in the election of directors within any of the following ranges of voting power:
1. One-fifth ( 1/5 ) or more but less than one-third ( ⅓ ) of all voting power;
2. One-third ( ⅓ ) or more but less than a majority of all voting power; or
3. A majority or more of all voting power.

Credits

Laws 1987, c. 146, § 15, emerg. eff. June 24, 1987; Laws 1991, c. 53, § 3, eff. Sept. 1, 1991.
18 Okl. St. Ann. § 1145, OK ST T. 18 § 1145
Current with emergency effective legislation through Chapter 257 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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