Okla. Stat. tit. 12A, § 12A-8-210
This is the official text of Okla. Stat. tit. 12A, § 12A-8-210, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Overissue
Official statutory text
Overissue.
(a) In this section, "overissue" means the issue of securities
in excess of the amount the issuer has corporate power to issue, but
an overissue does not occur if appropriate action has cured the
overissue.
(b) Except as otherwise provided in subsections (c) and (d) of
this section, the provisions of this article which validate a
security or compel its issue or reissue do not apply to the extent
that validation, issue, or reissue would result in overissue.
(c) If an identical security not constituting an overissue is
reasonably available for purchase, a person entitled to issue or
validation may compel the issuer to purchase the security and
deliver it if certificated or register its transfer if
uncertificated, against surrender of any security certificate the
person holds.
(d) If a security is not reasonably available for purchase, a
person entitled to issue or validation may recover from the issuer
the price the person or the last purchaser for value paid for it
with interest from the date of the person's demand.
(a) In this section, "overissue" means the issue of securities
in excess of the amount the issuer has corporate power to issue, but
an overissue does not occur if appropriate action has cured the
overissue.
(b) Except as otherwise provided in subsections (c) and (d) of
this section, the provisions of this article which validate a
security or compel its issue or reissue do not apply to the extent
that validation, issue, or reissue would result in overissue.
(c) If an identical security not constituting an overissue is
reasonably available for purchase, a person entitled to issue or
validation may compel the issuer to purchase the security and
deliver it if certificated or register its transfer if
uncertificated, against surrender of any security certificate the
person holds.
(d) If a security is not reasonably available for purchase, a
person entitled to issue or validation may recover from the issuer
the price the person or the last purchaser for value paid for it
with interest from the date of the person's demand.
Status: in_force · Read it on the official government site
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