Okla. Stat. tit. 6, § 6-708
This is the official text of Okla. Stat. tit. 6, § 6-708, 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.
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Common stock dividend on retirement of preferred stock
Official statutory text
The certificate of incorporation, or as the same may be amended,
of any such bank or trust company may provide that upon retirement
of any preferred stock of such bank or trust company issued pursuant
to the provisions of this Code, the board of directors may, without
further action of its stockholders, and without further action of
the Commissioner, declare and pay a common stock dividend by the
issuance of shares or fractional shares of common stock equal in
aggregate par value to the aggregate par value of the preferred
stock so retired.
of any such bank or trust company may provide that upon retirement
of any preferred stock of such bank or trust company issued pursuant
to the provisions of this Code, the board of directors may, without
further action of its stockholders, and without further action of
the Commissioner, declare and pay a common stock dividend by the
issuance of shares or fractional shares of common stock equal in
aggregate par value to the aggregate par value of the preferred
stock so retired.
Status: in_force · Read it on the official government site
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