reglab/housing_qa huggingface dataset:
18 OK Stat § 18-381.71 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-381.71. Definitions.

|As used in this section and Sections 381.72 and 381.73 of this title: |1. "Acquire" means:a.the merger or consolidation of an out-of-state savings institution with or into an in-state savings institution,b.the acquisition by an out-of-state savings institution of direct or indirect ownership or control of voting shares or, in the case of a mutual savings institution, voting rights of an in-state savings institution if, after such acquisition, such out-of-state savings institution directly or indirectly owns or controls twenty-five percent (25%) or more of any class of voting shares or voting rights of such in-state savings institution, excluding shares or rights owned or held by the United States or by any organization wholly owned by the United States,c.the acquisition by an out-of-state savings institution of the direct or indirect ownership of all or substantially all of the assets, including, if agreed, the assets of any branches and facilities, of an in-state savings institution, ord.any other action that would result in the direct or indirect ownership or control by an out-of-state savings institution of an in-state savings institution;2. "Control" means direct or indirect ownership of or holding with the power to vote twenty-five percent (25%) or more of the voting shares, or in the case of a mutual savings institution, the voting rights, excluding shares or rights owned or held by the United States or by any organization wholly owned by the United States, or the power in any manner to elect a majority of the directors or directly or indirectly to exercise a controlling influence, as determined by the State Banking Commissioner after notice and an opportunity for hearing, on the management or policies of a company;3. "Holding company" means a company which owns or controls one or more savings institutions organized under the laws of any state or the laws of the United States;4. "Main office" means the office of a savings institution designated by the Commissioner or the Office of Thrift Supervision as the main office of the institution and located within the United States;5. "In-state savings institution" means a savings institution organized under the laws of this state or the laws of the United States whose main office is located in Oklahoma;6. "Oklahoma holding company" means a holding company organized under the laws of this state;7. "Out-of-state savings institution" means any savings institution organized under the laws of another state or the laws of the United States whose main office is located in another state;8. "Savings institution" means any association or federal association, or as the context requires, any holding company or subsidiary of such savings institution; and9. "Subsidiary" means a company which is owned or controlled by a savings institution.Added by Laws 1986, c. 219, § 1, emerg. eff. June 9, 1986. Amended by Laws 1987, c. 61, § 17, emerg. eff. May 4, 1987; Laws 1988, c. 65, § 34, emerg. eff. March 25, 1988; Laws 1993, c. 183, § 66, eff. July 1, 1993; Laws 2000, c. 81, § 73, eff. Nov. 1, 2000.
18 OK Stat § 18-381.75 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-381.75. Reorganization plan.

|A. A plan of reorganization shall not be acceptable unless: |1. Such plan is feasible and fair to all classes of depositors, creditors and stockholders;2. The aggregate face amount of the interest accorded to any class of depositors, creditors or stockholders under the plan does not exceed the value of the assets upon liquidation less the full amount of the claims of all prior classes, subject, however, to any fair adjustment for new capital that any class will pay in under the plan;3. Such plan provides for the issuance of capital stock and, if necessary, debentures in an amount that will provide an adequate ratio to deposits;4. Any exchange of new common stock for obligations or stock of the association will be effected in inverse order to the priorities in liquidation of the classes that will retain an interest in the association and upon terms that fairly adjust any change in the relative interests of the respective classes that will be produced by the exchange;5. The plan assures the removal of any director, officer or employee responsible for any unsound or unlawful practice or the existence of an unsound condition; and6. Any merger or consolidation provided by the plan conforms to the requirements of this act.B. Whenever, in the course of reorganization, supervening conditions render the plan unfair or its execution impractical, the State Banking Commissioner may modify the plan or liquidate the association. Any such action shall be taken by order of the Commissioner upon appropriate notice.Added by Laws 1987, c. 61, § 22, emerg. eff. May 4, 1987. Amended by Laws 1993, c. 183, § 69, eff. July 1, 1993; Laws 2000, c. 81, § 76, eff. Nov. 1, 2000.
18 OK Stat § 18-381.78 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-381.78. Removal of officer, director or employee by Commissioner.

|Any officer, director or employee of an association found by the State Banking Commissioner to be dishonest, reckless, unfit to participate in the conduct of the affairs of the association, or to have engaged or participated in any unsafe or unsound practice in connection with an association, or to be practicing a continuing disregard or violation of laws, rules, regulations or orders which are likely to cause substantial loss to the association or likely to seriously weaken the condition of the association shall be removed immediately from office by the board of directors of the association of which such person is an officer, director or employee on the written order of the Commissioner. The association or officer, employee or director thereof, within ten (10) days of the date of the written order directing removal, may appeal such removal pursuant to the provisions of Section 207 of Title 6 of the Oklahoma Statutes. As soon as possible thereafter the Supreme Court shall review the order of the Commissioner and make such findings as it deems proper. During the pendency of the review of the protest against removal, the officer, employee or director shall not perform any of the duties of such office. |Added by Laws 1987, c. 61, § 25, emerg. eff. May 4, 1987. Amended by Laws 1993, c. 183, § 71, eff. July 1, 1993; Laws 2000, c. 81, § 79, eff. Nov. 1, 2000.
18 OK Stat § 18-381.79 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-381.79. Appeal of orders.

|Any final order of the Commissioner issued under this act or rules promulgated under this act shall be appealable pursuant to the provisions and requirements of Section 207 of Title 6 of the Oklahoma Statutes. |Added by Laws 2000, c. 81, § 80, eff. Nov. 1, 2000.
18 OK Stat § 18-381.80 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-381.80. Criminal offenses - Penalties.

|A. Any person responsible for an act or omission or a criminal offense expressly declared to be unlawful by this act or rules promulgated under this act shall be guilty: |1. Of a misdemeanor punishable by imprisonment for a term not exceeding one (1) year or a fine not exceeding Fifty Thousand Dollars ($50,000.00), or both; and2. If the act or omission was intended to defraud, of a felony punishable by imprisonment not exceeding five (5) years or a fine not exceeding One Hundred Thousand Dollars ($100,000.00), or both.B. An officer, director, employee, agent or attorney of an association shall be responsible for an act or omission of the institution declared to be a criminal offense against this act whenever, knowing that such act or omission is unlawful, such person participates in authorizing, executing, ratifying or concealing such act, or in authorizing or ratifying such omission or, having a duty to take the required action, omits to do so. A director shall be deemed to participate in any action, of which the director has or should have had knowledge, taken or omitted to be taken by the board of which the director is a member unless the director dissents therefrom in writing and promptly notifies the Commissioner of such dissent.C. It shall be a criminal offense against this act to violate any lawful order of the Commissioner. The Commissioner may refer evidence concerning violations of this act or of any rule or order hereunder to the Attorney General of the State of Oklahoma or to the district attorney for the county where a violation occurred in order that an information or indictment for such violations may be filed. The Attorney General or district attorney may designate and appoint a lawyer of the Oklahoma State Banking Department as special assistant, if available, for the purpose of assisting in or conducting criminal prosecutions arising because of the proceedings provided for in this section.D. Unless otherwise provided in this act, it shall be no defense to a criminal prosecution under this act that the defendant did not know the facts establishing the criminal character of the act or omission charged if the defendant could and should have known such facts in the proper performance of such duty.E. This section shall not apply to specific offenses for which criminal sanctions have been imposed in other sections of this act.Added by Laws 2000, c. 81, § 81, eff. Nov. 1, 2000.
18 OK Stat § 18-381.81 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-381.81. Payment or reimbursement by association for fine, penalty or judgment upon another person.

|It shall be unlawful for an association to pay a fine or penalty imposed by law upon any other person or any judgment against such person or to reimburse directly or indirectly any person by whom such fine, penalty or judgment has been paid, except as otherwise provided in Section 1411 of Title 6 of the Oklahoma Statutes. |Added by Laws 2000, c. 81, § 82, eff. Nov. 1, 2000.
18 OK Stat § 18-381.82 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-381.82. Receipt of deposit after notification of insolvency.

|It shall be unlawful for an association to receive any deposit after it has been notified by its primary regulator that it is insolvent or for an officer, director or employee who knows or, in the proper performance of such duty should know of the notification of such insolvency, to receive or authorize the receipt of such deposit, if such deposit, when aggregated together with other funds held by the depositor in the same right and capacity, would exceed the limit of any federal deposit insurance coverage. |Added by Laws 2000, c. 81, § 83, eff. Nov. 1, 2000.
18 OK Stat § 18-381.83 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-381.83. Certain persons prohibited from serving as officer or director.

|It shall be unlawful for any person to serve as an officer or director of an association who: |1. Has been convicted of an offense constituting, in the jurisdiction in which the conviction was rendered, a violation of the banking, savings institution or credit union laws or other felony involving dishonesty or a breach of trust; and2. Is indebted to the bank for more than thirty (30) days based on a judgment that has become final.Added by Laws 2000, c. 81, § 84, eff. Nov. 1, 2000.
18 OK Stat § 18-381.84 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-381.84. Criminal embezzlement, abstraction, or misapplication of association funds.

|It shall be a criminal offense for any officer, director, shareholder or employee of any association to directly or indirectly embezzle, abstract, or misapply, or cause to be embezzled, abstracted or misapplied any of the funds or securities or other property of or under the control of the association with intent to deceive, injure, cheat, wrong, or defraud any person or entity. |Added by Laws 2000, c. 81, § 85, eff. Nov. 1, 2000.
18 OK Stat § 18-381.85 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-381.85. Publishing, uttering, or circulating false statement or representation.

|It shall be unlawful for any person to publish, utter, or circulate any false, malicious, or unprivileged statement or representation for the purpose of injuring any association chartered, existing and doing business within the State of Oklahoma, under and by virtue of the laws of this state, or under and by virtue of the laws of the United States of America. |Added by Laws 2000, c. 81, § 86, eff. Nov. 1, 2000.
18 OK Stat § 18-381.86 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-381.86. Injunctions – Enforcement of orders.

|A. Whenever a violation of this act by an association or any officer, director or employee thereof is threatened or impending and will cause substantial injury to the institution or to the depositors, creditors, or stockholders thereof, the district court of the county in which the association is located shall, upon the suit of the State Banking Commissioner, issue an injunction restraining such violation. |B. Whenever any corporation, not authorized to carry on association business under this act, shall falsely act as an association, or shall use an artificial or corporate name implying it is a trust company, the district court of the county in which lawful service is obtained shall, upon suit of the Commissioner, issue an injunction restraining such act.C. All orders of the Commissioner shall be enforced by the district court of the district of domicile of the person or persons to whom the order is directed.Added by Laws 2000, c. 81, § 87, eff. Nov. 1, 2000.
18 OK Stat § 18-411 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-411. Reports - Misapplication of funds solicited.

|Thirty (30) days after the passage and approval of this bill, all chambers of commerce, commercial clubs, or any such associations organized and doing business in this state as is commonly done by such associations shall make a report to their entire membership, setting forth and itemizing their receipts and disbursements for the year ending at the date of the passage and approval of this bill, and shall thereafter make a like report each year ending June 30th. |Every committee or individual who solicits or receives any funds from the public for such associations herein named shall make a full itemized report of all receipts and disbursements thereof. The report shall be filed with the city clerk where the committee or person soliciting such fund resides, or where the funds were collected; provided, that any person or committee who diverts the funds so collected from the purposes for which they were solicited or collected shall be guilty of a felony and on conviction therefor shall be punished by confinement in the State Penitentiary for a term of not less than one (1) year nor more than five (5) years.Added by Laws 1919, c. 260, p. 370, § 1. Amended by Laws 1997, c. 133, § 140, eff. July 1, 1999; Laws 1999, 1st Ex.Sess., c. 5, § 66, eff. July 1, 1999.NOTE: Laws 1998, 1st Ex.Sess., c. 2, § 23 amended the effective date of Laws 1997, c. 133, § 140 from July 1, 1998, to July 1, 1999.
18 OK Stat § 18-421 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-421. Corporations authorized - Formation - Purposes.

|Ten or more persons may form a corporation for the purpose of conducting an agricultural, dairy, livestock, irrigation, horticultural, mercantile, mining, manufacturing, mechanical, or industrial business upon a co-operative plan, and with their associates, successors and assigns may become and be a body politic and corporate by complying with the provisions of this act. |Laws 1919, c. 147, p. 211, § 1; Laws 1923, c. 167, p. 269, § 1.
18 OK Stat § 18-422 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-422. Articles of incorporation.

|The incorporators shall sign and acknowledge, in the manner required for the signing and acknowledgment of deeds, a certificate of incorporation showing the following facts: |(1) The corporate name.(2) The purpose of corporation.(3) The amount of capital stock.(4) The number of shares, and the par value of the shares into which the capital stock is divided.(5) The term of the corporate existence.(6) The number of directors, not less than five and the names and addresses of the incorporating directors who shall manage the concerns of the corporation for the first corporate year.(7) The name of the town or post office and the county where the principal office or place of business of the corporation shall be located.(8) Any further provision, not inconsistent with law, which the incorporators may deem expedient to be embodied in such certificate.Added by Laws 1919, c. 147, p. 211, § 2.
18 OK Stat § 18-423 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-423. Filing of articles - Certificate - Election by existing corporations.

|The articles of incorporation shall be filed with the Secretary of State whereupon he shall issue to the corporation over the Great Seal of the State of Oklahoma, a certificate that the articles containing the required statement of facts have been filed in his office, and thereupon the persons signing the articles and their associates, successors and assigns shall be a body politic and corporate by the name and for the purposes stated in said article. Provided, that any corporation doing business as mentioned in Section One, now operating in the State of Oklahoma, may, at regular or special meeting of the shareholders called for such purpose, by a majority vote elect to operate under the provisions of this act, after the action taken at such meeting shall be properly certified by the secretary of such corporation to the Secretary of State. |Laws 1919, c. 147, p. 212, § 3.
18 OK Stat § 18-424 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-424. Amendment of articles.

|The articles of incorporation may be amended at any time, or from time to time, by the affirmative vote of two-thirds of the members present at any annual meeting of the stockholders, if notice of the proposed amendment shall have been given in the call for such meeting. Such amendments shall be put into effect by the directors, who shall sign and acknowledge and file, as above provided, new or revised articles containing such amendments and superseding the original articles. |Laws 1919, c. 147, p. 212, § 4.
18 OK Stat § 18-425 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-425. Powers.

|Each corporation formed under the provisions of this act shall have power: |(1) To have succession by its corporate name for the period limited in its certificate.(2) To sue and be sued, complain and defend in any court.(3) To establish and use a common seal and alter the same.(4) To hold, purchase and convey such real and personal property as the purpose of the corporation may require, including stock in subsidiary or allied cooperative corporations within or without the state.(5) To appoint such officers and agents as the business may require, including in every case a president and secretary, and to fix their compensation.(6) To make bylaws not inconsistent with law for the management of its property, the regulation of its business and the transfer of its stock.(7) To exercise all other lawful powers necessary or proper for the exercise of the powers herein conferred.Laws 1919, c. 147, p. 212, § 5.
18 OK Stat § 18-426 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-426. Stock.

|The stock of such corporation shall not be sold at less than its par value. Twenty percent (20%) of the par value of the stock subscribed for shall be paid in before the corporation shall commence business, and the remainder of such subscriptions shall be paid from time to time upon call of the directors. No certificate of stock shall be issued to any person until the full amount of the subscription therefor shall have been paid. No person shall become a shareholder except by consent of the board of directors. Not more than ten percent (10%) of the stock outstanding at any time, and not more than Three Thousand Dollars ($3,000.00) in par value, shall be held by or for one person, firm or corporation. |Laws 1919, c. 147, p. 212, § 6; Laws 1969, c. 226, § 1.
18 OK Stat § 18-427 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-427. Voting rights.

|Each shareholder or subscriber shall be entitled to one vote, and no more, irrespective of the number of shares owned, at any meeting of the stockholders. Voting by proxies or absentee voting may be permitted and regulated by the bylaws. In the absence of such provision in the bylaws, no voting by proxies or absentees shall be allowed. |Laws 1919, c. 147, p. 213, § 7.
18 OK Stat § 18-428 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-428. Liability of subscribers and shareholders.

|All subscribers or shareholders shall be severally and individually liable to the creditors of the corporation, to the amount of the unpaid capital stock subscribed for, or held by them, respectively and to no other or further amount. |Laws 1919, c. 147, p. 213, § 8; Laws 1923, c. 167, p. 269, § 2.
18 OK Stat § 18-429 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-429. Directors - Selection and term - Quorum.

|The stock, property and affairs, of such corporation shall be managed by the board of directors, which shall consist of five (5) members, all of whom must be stockholders, and who shall be elected at the annual meeting of the stockholders. At the first meeting of the stockholders, there shall be elected five directors, one of whom shall serve one (1) year, two of whom shall serve two (2) years, and the remaining two of whom shall serve three (3) years. As the term of office of each of these directors expires a successor shall be elected, who shall serve for three (3) years, unless sooner removed, or until his successor is elected and qualified. |Notice of the time and place of holding such election shall be published not less than two (2) weeks previous thereto in the newspaper printed nearest to the place where the principal office or place of business of the corporation is located. A quorum shall consist of at least ten percent (10%) in number of all the stockholders or subscribers for stock who are entitled to vote.Laws 1919, c. 147, p. 213, § 9; Laws 1923, c. 167, p. 270, § 3; Laws 1941, p. 58, § 1.
18 OK Stat § 18-430 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-430. Removal of director or officer - Vacancies.

|Any director or officer of such corporation may be removed by a majority vote of the stockholders at any regular or special stockholders' meeting lawfully called, and the vacancy may be filled at such meeting or by the remaining directors at any regular or special meeting thereafter. |Laws 1919, c. 147, p. 213, § 10.
18 OK Stat § 18-431 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-431. Liability of directors.

|If the indebtedness of such corporation shall at any time exceed the amount of its subscribed capital stock and surplus the directors assenting thereto shall be personally and individually liable for such excess to the creditors. Except any indebtedness created in favor of the State warehouse revolving fund. |Laws 1919, c. 147, p. 231, § 11; Laws 1923, c. 167, p. 270, § 4.