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§ 1155. Rights of dissenting shareholders

Oklahoma Statutes AnnotatedTitle 18. Corporations

Oklahoma Statutes Annotated
Title 18. Corporations (Refs & Annos)
Chapter 23. Control Share Provisions
General Provisions
18 Okl.St.Ann. § 1155
§ 1155. Rights of dissenting shareholders
RIGHTS OF DISSENTING SHAREHOLDERS
A. Unless otherwise provided in a corporation's certificate of incorporation or bylaws before a control share acquisition has occurred, in the event control shares acquired in a control share acquisition are accorded full voting rights and the acquiring person has acquired control shares with a majority or more of all voting power, all shareholders of the issuing public corporation have dissenters' rights.
B. As soon as practicable after such events have occurred, the board of directors shall cause a notice to be sent to all shareholders of the corporation advising them of the facts and that they have dissenters' rights to receive the fair value of their shares pursuant to Section 1091 of Title 18 of the Oklahoma Statutes.
C. As used in this section, “fair value” means a value not less than the highest price paid per share by the acquiring person in the control share acquisition.

Credits

Laws 1987, c. 146, § 25, emerg. eff. June 24, 1987.
18 Okl. St. Ann. § 1155, OK ST T. 18 § 1155
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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