Okla. Stat. tit. 6, § 6-709
This is the official text of Okla. Stat. tit. 6, § 6-709, 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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Rights of preferred shareholders - Dividends - Voting and
Official statutory text
conversion rights.
A. Dividends. Notwithstanding any other provision of law,
whether related to restrictions upon payment of dividends upon
capital stock or otherwise, the holders of preferred stock shall be
entitled to receive cumulative dividends only if provided for in the
bank or trust company’s certificate of incorporation or amendment
thereto.
B. Dividends on common stock may not be paid until dividends on
preferred stock have been paid - Retirement. No dividends shall be
declared or paid on common stock until the cumulative dividends on
the preferred stock shall have been paid in full. If the bank or
trust company is placed in voluntary or involuntary liquidation, no
dividends shall be paid to the holders of common stock until the
holders of preferred stock shall have been paid in full the par
Oklahoma Statutes - Title 6. Banks and Trust Companies Page 89
value or the retirement price (whichever is greater) of such stock
plus any authorized accumulated dividends.
C. Voting rights - Conversion - Retirement. Preferred stock
shall have such voting and conversion rights and such control of
management, and shall be subject to retirement at such price and in
such manner and upon such conditions, as may be provided in the
certificate of incorporation or any amendment thereto, with the
approval of the Board.
A. Dividends. Notwithstanding any other provision of law,
whether related to restrictions upon payment of dividends upon
capital stock or otherwise, the holders of preferred stock shall be
entitled to receive cumulative dividends only if provided for in the
bank or trust company’s certificate of incorporation or amendment
thereto.
B. Dividends on common stock may not be paid until dividends on
preferred stock have been paid - Retirement. No dividends shall be
declared or paid on common stock until the cumulative dividends on
the preferred stock shall have been paid in full. If the bank or
trust company is placed in voluntary or involuntary liquidation, no
dividends shall be paid to the holders of common stock until the
holders of preferred stock shall have been paid in full the par
Oklahoma Statutes - Title 6. Banks and Trust Companies Page 89
value or the retirement price (whichever is greater) of such stock
plus any authorized accumulated dividends.
C. Voting rights - Conversion - Retirement. Preferred stock
shall have such voting and conversion rights and such control of
management, and shall be subject to retirement at such price and in
such manner and upon such conditions, as may be provided in the
certificate of incorporation or any amendment thereto, with the
approval of the Board.
Status: in_force · Read it on the official government site
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