§18-902. Definitions.
157 words·~1 min read·
/ok/title-18-corporations/18-902·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
As used in this act, unless a different meaning is required by the context, the following words and phrases shall have the following meanings:
(1)"Corporation" means the Oklahoma Business Development Corporation created under the provisions of this act.
(2)"Financial institution" means any bank, trust company, savings and loan association, insurance company, or other institution engaged in lending or investing funds.
(3)"Member" means any financial institution which shall undertake to lend money to a corporation created under the provisions of this act.
(4)"Board of directors" means the board of directors of a corporation created under this act.
(5)"Loan limit" for any member means the maximum amount permitted to be outstanding at one time on loans made by such member to a corporation as determined under the provisions of this act.
(6)"Shareholder" means the holder of record of shares in the corporation. Laws 1970, c. 187, § 2, emerg. eff. April 13, 1970.