Okla. Stat. tit. 18, § 18-381.61
This is the official text of Okla. Stat. tit. 18, § 18-381.61, 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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Merger or consolidation
Official statutory text
Pursuant to a plan agreed upon by at least two-thirds of the
members of the board of directors as being equitable to the members
or stockholders of the association and as not impairing other
associations, foreign associations, and federal associations, an
association may merge or consolidate with another association,
foreign association, or federal association, provided that the plan
of such merger or consolidation shall be approved at an annual
meeting or at any special meeting of the members or stockholders
called to consider such action by a majority vote of the outstanding
stock entitled to vote thereon or upon a majority vote of the total
number of votes of the members present in person or by proxy. An
application to merge or consolidate shall be filed with the State
Banking Commissioner and the same shall be the subject of an
individual proceeding pursuant to Article II of the Administrative
Procedures Act, Section 309 et seq. of Title 75 of the Oklahoma
Statutes. If the merger or consolidation is approved by the
Commissioner, a copy of the order of approval shall be filed with
the Secretary of State who shall then issue a certificate of merger.
In all cases of merger or consolidation, the corporate continuity of
the resulting corporation shall have the same incidents, rights and
liabilities as that of an association which has converted pursuant
to this act. The Commissioner may provide, by rule, for any
additional procedure to be followed, and application fee to be paid,
by any associations merging or consolidating pursuant to this act.
Oklahoma Statutes - Title 18. Corporations Page 66
members of the board of directors as being equitable to the members
or stockholders of the association and as not impairing other
associations, foreign associations, and federal associations, an
association may merge or consolidate with another association,
foreign association, or federal association, provided that the plan
of such merger or consolidation shall be approved at an annual
meeting or at any special meeting of the members or stockholders
called to consider such action by a majority vote of the outstanding
stock entitled to vote thereon or upon a majority vote of the total
number of votes of the members present in person or by proxy. An
application to merge or consolidate shall be filed with the State
Banking Commissioner and the same shall be the subject of an
individual proceeding pursuant to Article II of the Administrative
Procedures Act, Section 309 et seq. of Title 75 of the Oklahoma
Statutes. If the merger or consolidation is approved by the
Commissioner, a copy of the order of approval shall be filed with
the Secretary of State who shall then issue a certificate of merger.
In all cases of merger or consolidation, the corporate continuity of
the resulting corporation shall have the same incidents, rights and
liabilities as that of an association which has converted pursuant
to this act. The Commissioner may provide, by rule, for any
additional procedure to be followed, and application fee to be paid,
by any associations merging or consolidating pursuant to this act.
Oklahoma Statutes - Title 18. Corporations Page 66
Status: in_force · Read it on the official government site
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