Okla. Stat. tit. 18, § 18-952
This is the official text of Okla. Stat. tit. 18, § 18-952, 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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Revocation of license - Vacation of franchise - Penalties
Official statutory text
A. Any license issued after June 1, 1971, under the Oklahoma
Business Corporation Act to a foreign corporation for the purpose of
engaging in farming or ranching or for the purpose of owning or
leasing any interest in land to be used in the business of farming
or ranching shall be revoked within five (5) years of the effective
date of this act.
B. The corporate franchise of any existing domestic corporation
formed under the Oklahoma Business Corporation Act after June 1,
1971, for the purpose of engaging in farming or ranching or for the
purpose of owning or leasing any interest in land to be used in the
business of farming or ranching shall be vacated within five (5)
years of the effective date of this act unless its articles of
incorporation comply with Section 951 of this title.
C. The corporate franchise of any domestic corporation governed
by the Oklahoma General Corporation Act formed for the purpose of
farming or ranching or for the purpose of owning or leasing any
interest in land to be used in the business of farming or ranching
and permitted to engage in such activity under this act shall be
vacated promptly in the manner prescribed by Section 104 of this
act, if the corporation has persistently violated the provisions of
subsection A of Section 951 of this title.
D. The State Board of Agriculture shall initiate and prosecute
civil or criminal actions and proceedings when deemed necessary to
enforce or carry out any of the provisions of this code.
E. This act shall not require any foreign or domestic
corporation to dispose of any property acquired on or before June 1,
1971.
F. Any farming or ranching corporation which violates the
provisions of Section 951 of this title shall be fined an amount not
to exceed Five Hundred Dollars ($500.00). Any other person,
corporation or entity who knowingly violates such section shall be
deemed guilty of a misdemeanor.
Business Corporation Act to a foreign corporation for the purpose of
engaging in farming or ranching or for the purpose of owning or
leasing any interest in land to be used in the business of farming
or ranching shall be revoked within five (5) years of the effective
date of this act.
B. The corporate franchise of any existing domestic corporation
formed under the Oklahoma Business Corporation Act after June 1,
1971, for the purpose of engaging in farming or ranching or for the
purpose of owning or leasing any interest in land to be used in the
business of farming or ranching shall be vacated within five (5)
years of the effective date of this act unless its articles of
incorporation comply with Section 951 of this title.
C. The corporate franchise of any domestic corporation governed
by the Oklahoma General Corporation Act formed for the purpose of
farming or ranching or for the purpose of owning or leasing any
interest in land to be used in the business of farming or ranching
and permitted to engage in such activity under this act shall be
vacated promptly in the manner prescribed by Section 104 of this
act, if the corporation has persistently violated the provisions of
subsection A of Section 951 of this title.
D. The State Board of Agriculture shall initiate and prosecute
civil or criminal actions and proceedings when deemed necessary to
enforce or carry out any of the provisions of this code.
E. This act shall not require any foreign or domestic
corporation to dispose of any property acquired on or before June 1,
1971.
F. Any farming or ranching corporation which violates the
provisions of Section 951 of this title shall be fined an amount not
to exceed Five Hundred Dollars ($500.00). Any other person,
corporation or entity who knowingly violates such section shall be
deemed guilty of a misdemeanor.
Status: in_force · Read it on the official government site
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