§ 381.75. Reorganization plan
Oklahoma Statutes AnnotatedTitle 18. Corporations
18 Okl.St.Ann. § 381.75
§ 381.75. Reorganization plan
2. The aggregate face amount of the interest accorded to any class of depositors, creditors or stockholders under the plan does not exceed the value of the assets upon liquidation less the full amount of the claims of all prior classes, subject, however, to any fair adjustment for new capital that any class will pay in under the plan;
4. Any exchange of new common stock for obligations or stock of the association will be effected in inverse order to the priorities in liquidation of the classes that will retain an interest in the association and upon terms that fairly adjust any change in the relative interests of the respective classes that will be produced by the exchange;
6. Any merger or consolidation provided by the plan conforms to the requirements of this act.1
Credits
Laws 1987, c. 61, § 22, emerg. eff. May 4, 1987; Laws 1993, c. 183, § 69, eff. July 1, 1993; Laws 2000, c. 81, § 76, eff. Nov. 1, 2000.
Footnotes
Title 18, § 381.1 et seq.
18 Okl. St. Ann. § 381.75, OK ST T. 18 § 381.75
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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