Okla. Stat. tit. 52, § 52-32
This is the official text of Okla. Stat. tit. 52, § 52-32, part of Oklahoma’s Stat. tit. 52, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 52,." Browse the sections below, each linked to its official government source.
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Violations - Receivership - procedure
Official statutory text
The Corporation Commission shall, upon being reasonably
satisfied that any corporation has violated the provisions of this
act, recommend to the Attorney General that a receiver be appointed
for such corporation. Upon receipt of the recommendation by the
Attorney General, he shall within ten (10) days file a petition on
behalf of the state in any court of competent jurisdiction, praying
that a receiver be appointed, and such court shall immediately
consider the application and appoint a receiver, if in the judgment
of the court the provisions of this act have been willfully
violated. The receiver, when appointed, shall immediately take
charge of all the business, property and assets of such corporation
in the state and shall retain possession thereof until it shall be
determined upon the trial whether or not such corporation has
violated the provisions of this act, then, in addition to the other
Oklahoma Statutes - Title 52. Oil and Gas Page 32
penalties herein provided, all the property of said corporation
shall be retained under such receivership until the penalties
incurred hereunder are paid, after which the receivership may be
discharged upon such terms and conditions as the court may impose as
an assurance for the further compliance with this act.
satisfied that any corporation has violated the provisions of this
act, recommend to the Attorney General that a receiver be appointed
for such corporation. Upon receipt of the recommendation by the
Attorney General, he shall within ten (10) days file a petition on
behalf of the state in any court of competent jurisdiction, praying
that a receiver be appointed, and such court shall immediately
consider the application and appoint a receiver, if in the judgment
of the court the provisions of this act have been willfully
violated. The receiver, when appointed, shall immediately take
charge of all the business, property and assets of such corporation
in the state and shall retain possession thereof until it shall be
determined upon the trial whether or not such corporation has
violated the provisions of this act, then, in addition to the other
Oklahoma Statutes - Title 52. Oil and Gas Page 32
penalties herein provided, all the property of said corporation
shall be retained under such receivership until the penalties
incurred hereunder are paid, after which the receivership may be
discharged upon such terms and conditions as the court may impose as
an assurance for the further compliance with this act.
Status: in_force · Read it on the official government site
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