Okla. Stat. tit. 6, § 6-405.2
This is the official text of Okla. Stat. tit. 6, § 6-405.2, part of Oklahoma’s Stat. tit. 6, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 6,." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Employee stock option and stock purchase plans
Official statutory text
A. Scope and application. Any bank or trust company may grant
options to purchase, sell or enter into agreements to sell shares of
its capital stock to its employees, for a consideration of not less
than one hundred percent (100%) of the fair market value of the
shares on the date the option is granted, or, if pursuant to a stock
purchase plan, one hundred percent (100%) of the fair market value
on the date the purchase price is fixed, pursuant to the terms of an
Oklahoma Statutes - Title 6. Banks and Trust Companies Page 57
employee stock option plan or employee stock purchase plan which has
been adopted by the board of directors of the bank and approved by
the holders of at least a majority of the outstanding shares of the
bank entitled to vote and by the Commissioner. Stock options issued
hereunder shall not extend beyond a period of ten (10) years from
date of issuance and shall otherwise qualify as stock options under
the provisions of the Internal Revenue Code of 1954, as it may be
amended from time to time.
B. Source of shares. Shares issued to employees pursuant to
this section may be authorized but unissued stock which has been
authorized by stockholders in accordance with the procedures
outlined in Section 39 of this act.
options to purchase, sell or enter into agreements to sell shares of
its capital stock to its employees, for a consideration of not less
than one hundred percent (100%) of the fair market value of the
shares on the date the option is granted, or, if pursuant to a stock
purchase plan, one hundred percent (100%) of the fair market value
on the date the purchase price is fixed, pursuant to the terms of an
Oklahoma Statutes - Title 6. Banks and Trust Companies Page 57
employee stock option plan or employee stock purchase plan which has
been adopted by the board of directors of the bank and approved by
the holders of at least a majority of the outstanding shares of the
bank entitled to vote and by the Commissioner. Stock options issued
hereunder shall not extend beyond a period of ten (10) years from
date of issuance and shall otherwise qualify as stock options under
the provisions of the Internal Revenue Code of 1954, as it may be
amended from time to time.
B. Source of shares. Shares issued to employees pursuant to
this section may be authorized but unissued stock which has been
authorized by stockholders in accordance with the procedures
outlined in Section 39 of this act.
Status: in_force · Read it on the official government site
Need a lawyer in Oklahoma?
Find a Oklahoma lawyer
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.