Okla. Stat. tit. 18, § 18-429
This is the official text of Okla. Stat. tit. 18, § 18-429, 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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Directors - Selection and term - Quorum
Official statutory text
The stock, property and affairs, of such corporation shall be
managed by the board of directors, which shall consist of five (5)
members, all of whom must be stockholders, and who shall be elected
at the annual meeting of the stockholders. At the first meeting of
the stockholders, there shall be elected five directors, one of whom
shall serve one (1) year, two of whom shall serve two (2) years, and
the remaining two of whom shall serve three (3) years. As the term
of office of each of these directors expires a successor shall be
elected, who shall serve for three (3) years, unless sooner removed,
or until his successor is elected and qualified.
Notice of the time and place of holding such election shall be
published not less than two (2) weeks previous thereto in the
newspaper printed nearest to the place where the principal office or
place of business of the corporation is located. A quorum shall
consist of at least ten percent (10%) in number of all the
stockholders or subscribers for stock who are entitled to vote.
managed by the board of directors, which shall consist of five (5)
members, all of whom must be stockholders, and who shall be elected
at the annual meeting of the stockholders. At the first meeting of
the stockholders, there shall be elected five directors, one of whom
shall serve one (1) year, two of whom shall serve two (2) years, and
the remaining two of whom shall serve three (3) years. As the term
of office of each of these directors expires a successor shall be
elected, who shall serve for three (3) years, unless sooner removed,
or until his successor is elected and qualified.
Notice of the time and place of holding such election shall be
published not less than two (2) weeks previous thereto in the
newspaper printed nearest to the place where the principal office or
place of business of the corporation is located. A quorum shall
consist of at least ten percent (10%) in number of all the
stockholders or subscribers for stock who are entitled to vote.
Status: in_force · Read it on the official government site
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