§18-1034. Consideration for Stock.
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/ok/title-18-corporations/18-1034·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
CONSIDERATION FOR STOCK
A. Shares of stock with par value may be issued for such consideration, having a value not less than the par value of the shares so issued, as determined from time to time in accordance with Section 1033 of this title, or by the shareholders if the certificate of incorporation so provides.
B. Shares of stock without par value may be issued for such consideration as determined from time to time in accordance with Section 1033 of this title, or by the shareholders if the certificate of incorporation so provides.
C. Treasury shares may be disposed of by the corporation in the same manner that shares of stock are issued under Section 1033 of this title, or may be disposed of for such consideration as determined by the shareholders if the certificate of incorporation so provides.
D. If the certificate of incorporation reserves to the shareholders the right to determine the consideration for the issue of any shares, the shareholders, unless the certificate requires a greater vote, shall do so by a vote of a majority of the outstanding stock entitled to vote thereon. Added by Laws 1986, c. 292, § 34, eff. Nov. 1, 1986. Amended by Laws 2024, c. 120, § 19, eff. Nov. 1, 2024.