§18-1155. Rights of dissenting shareholders.
165 words·~1 min read·
/ok/title-18-corporations/18-1155·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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. Added by Laws 1987, c. 146, § 25, emerg. eff. June 24, 1987.