Okla. Stat. tit. 18, § 18-903

This is the official text of Okla. Stat. tit. 18, § 18-903, 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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Organization - Purpose

Official statutory text

A business development corporation may be incorporated in this

state pursuant to the provisions of this act and all the provisions

of the Oklahoma General Corporation Act not in conflict with or

inconsistent with the provisions of this act shall apply to such

corporation except as hereinafter otherwise provided.

Ten or more persons, a majority of whom shall be residents of

this state, who desire to create a business development corporation

under the provisions of this act, shall by certificate of

incorporation filed with the Secretary of State, under their hands

and seal, set forth:

(1) The name of the corporation, which shall include the words

"Oklahoma Business Development Corporation".

(2) The location of the principal office of the corporation, but

such corporation may have offices in such other places within the

state as may be fixed by the board of directors.

(3) The purpose for which the corporation is founded, which

shall include the following:

The purposes of the corporation shall be to promote, stimulate,

develop and advance to business prosperity and economic welfare of

the State of Oklahoma and its citizens; to encourage and assist

through loans, investments or other business transactions in the

location of new business and industry in this state and to improve

and assist existing business and industry, and so to stimulate and

assist in the expansion of all kinds of business activity which will

tend to promote the business development and maintain the economic

stability of this state and provide maximum opportunities for

employment; to cooperate and act in conjunction with other

organizations, public or private, in the promotion and advancement

of industrial, commercial, agricultural and recreational

developments in this state; and to provide financing for the

promotion, development, and conduct of all kinds of business

activity in this state.

Status: in_force · Read it on the official government site

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About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.