Okla. Stat. tit. 18, § 18-1052
This is the official text of Okla. Stat. tit. 18, § 18-1052, part of Oklahoma’s Stat. tit. 18, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 18,." Browse the sections below, each linked to its official government source.
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Declaration and Payment of Dividends
Official statutory text
DECLARATION AND PAYMENT OF DIVIDENDS
No corporation shall pay dividends except in accordance with the
provisions of the Oklahoma General Corporation Act. Dividends may
be paid in cash, in property, or in shares of the corporation's
capital stock. If the dividend is to be paid in shares of the
Oklahoma Statutes - Title 18. Corporations Page 363
corporation's theretofore unissued capital stock, the board of
directors, by resolution, shall direct that there be designated as
capital in respect of such shares an amount which is not less than
the aggregate par value of par value shares being declared as a
dividend and, in the case of shares without par value being declared
as a dividend, such amount as shall be determined by the board of
directors. No such designation as capital shall be necessary if
shares are being distributed by a corporation pursuant to a split-up
or division of its stock rather than as payment of a dividend
declared payable in stock of the corporation.
No corporation shall pay dividends except in accordance with the
provisions of the Oklahoma General Corporation Act. Dividends may
be paid in cash, in property, or in shares of the corporation's
capital stock. If the dividend is to be paid in shares of the
Oklahoma Statutes - Title 18. Corporations Page 363
corporation's theretofore unissued capital stock, the board of
directors, by resolution, shall direct that there be designated as
capital in respect of such shares an amount which is not less than
the aggregate par value of par value shares being declared as a
dividend and, in the case of shares without par value being declared
as a dividend, such amount as shall be determined by the board of
directors. No such designation as capital shall be necessary if
shares are being distributed by a corporation pursuant to a split-up
or division of its stock rather than as payment of a dividend
declared payable in stock of the corporation.
Status: in_force · Read it on the official government site
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