Okla. Stat. tit. 18, § 18-1126
This is the official text of Okla. Stat. tit. 18, § 18-1126, 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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Shareholder's derivative action - Allegation of stock
Official statutory text
ownership - Award of costs and attorney fees.
SHAREHOLDER'S DERIVATIVE ACTION; ALLEGATION OF STOCK OWNERSHIP
Oklahoma Statutes - Title 18. Corporations Page 500
A. In any derivative suit instituted by a shareholder of a
corporation, it shall be averred in the petition that the plaintiff
was a shareholder of the corporation at the time of the transaction
of which the plaintiff complains or that the plaintiff's stock
thereafter devolved upon him or her by operation of law.
B. If a derivative action confers a substantial benefit upon
the corporation as a result of a compromise or settlement of an
action or claim, the court may award the plaintiff reasonable costs,
including reasonable attorney fees, and shall direct the plaintiff
to remit to the corporation the remainder of all proceeds received.
C. In any derivative action instituted by a shareholder of a
domestic or foreign corporation, the court having jurisdiction, upon
final judgment, shall require the nonprevailing party or parties to
pay the prevailing party or parties the reasonable expenses,
including attorney fees, taxable as costs, incurred as a result of
such action.
SHAREHOLDER'S DERIVATIVE ACTION; ALLEGATION OF STOCK OWNERSHIP
Oklahoma Statutes - Title 18. Corporations Page 500
A. In any derivative suit instituted by a shareholder of a
corporation, it shall be averred in the petition that the plaintiff
was a shareholder of the corporation at the time of the transaction
of which the plaintiff complains or that the plaintiff's stock
thereafter devolved upon him or her by operation of law.
B. If a derivative action confers a substantial benefit upon
the corporation as a result of a compromise or settlement of an
action or claim, the court may award the plaintiff reasonable costs,
including reasonable attorney fees, and shall direct the plaintiff
to remit to the corporation the remainder of all proceeds received.
C. In any derivative action instituted by a shareholder of a
domestic or foreign corporation, the court having jurisdiction, upon
final judgment, shall require the nonprevailing party or parties to
pay the prevailing party or parties the reasonable expenses,
including attorney fees, taxable as costs, incurred as a result of
such action.
Status: in_force · Read it on the official government site
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