Okla. Stat. tit. 18, § 18-1062
This is the official text of Okla. Stat. tit. 18, § 18-1062, 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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Voting Rights of Fiduciaries, Pledgors and Joint Owners
Official statutory text
of Stock.
VOTING RIGHTS OF FIDUCIARIES, PLEDGORS
AND JOINT OWNERS OF STOCK
A. Persons holding stock in a fiduciary capacity shall be
entitled to vote the shares so held. Persons whose stock is pledged
shall be entitled to vote, unless in the transfer by the pledgor on
the books of the corporation he has expressly empowered the pledgee,
to vote thereon, in which case only the pledgee, or his proxy may
represent such stock and vote thereon.
B. If shares or other securities having voting power stand of
record in the names of two (2) or more persons, whether fiduciaries,
members of a partnership, joint tenants, tenants in common, tenants
by the entirety or otherwise, or if two (2) or more persons have the
same fiduciary relationship respecting the same shares, unless the
secretary of the corporation is given written notice to the contrary
and is furnished with a copy of the instrument or order appointing
them or creating the relationship wherein it is so provided, their
acts with respect to voting shall have the following effect:
1. If only one (1) vote, his act binds all; or
2. If more than one (1) vote, the act of the majority so voting
binds all; or
Oklahoma Statutes - Title 18. Corporations Page 385
3. If more than one (1) vote, but the vote is evenly split on
any particular matter, each faction may vote the securities in
question proportionally, or any person voting the shares, or a
beneficiary, if any, may apply to the district court to appoint an
additional person to act with the persons so voting the shares,
which shall then be voted as determined by a majority of such
persons and the person appointed by such court. If the instrument
so filed shows that any such tenancy is held in unequal interests, a
majority or even-split for the purpose of this subsection shall be a
majority or even-split in interest.
VOTING RIGHTS OF FIDUCIARIES, PLEDGORS
AND JOINT OWNERS OF STOCK
A. Persons holding stock in a fiduciary capacity shall be
entitled to vote the shares so held. Persons whose stock is pledged
shall be entitled to vote, unless in the transfer by the pledgor on
the books of the corporation he has expressly empowered the pledgee,
to vote thereon, in which case only the pledgee, or his proxy may
represent such stock and vote thereon.
B. If shares or other securities having voting power stand of
record in the names of two (2) or more persons, whether fiduciaries,
members of a partnership, joint tenants, tenants in common, tenants
by the entirety or otherwise, or if two (2) or more persons have the
same fiduciary relationship respecting the same shares, unless the
secretary of the corporation is given written notice to the contrary
and is furnished with a copy of the instrument or order appointing
them or creating the relationship wherein it is so provided, their
acts with respect to voting shall have the following effect:
1. If only one (1) vote, his act binds all; or
2. If more than one (1) vote, the act of the majority so voting
binds all; or
Oklahoma Statutes - Title 18. Corporations Page 385
3. If more than one (1) vote, but the vote is evenly split on
any particular matter, each faction may vote the securities in
question proportionally, or any person voting the shares, or a
beneficiary, if any, may apply to the district court to appoint an
additional person to act with the persons so voting the shares,
which shall then be voted as determined by a majority of such
persons and the person appointed by such court. If the instrument
so filed shows that any such tenancy is held in unequal interests, a
majority or even-split for the purpose of this subsection shall be a
majority or even-split in interest.
Status: in_force · Read it on the official government site
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