Oklahoma § 18-903 - Organization - Purpose
Full text of Oklahoma Oklahoma Statutes § 18-903 — Organization - Purpose, with citation guidance and answers to common questions.
§ 18-903. Organization - Purpose
A business development corporation may be incorporated in this
state pursuant to the provisions of this act and all the provisions
of the Oklahoma General Corporation Act not in conflict with or
inconsistent with the provisions of this act shall apply to such
corporation except as hereinafter otherwise provided.
Ten or more persons, a majority of whom shall be residents of
this state, who desire to create a business development corporation
under the provisions of this act, shall by certificate of
incorporation filed with the Secretary of State, under their hands
and seal, set forth:
(1) The name of the corporation, which shall include the words
"Oklahoma Business Development Corporation".
(2) The location of the principal office of the corporation, but
such corporation may have offices in such other places within the
state as may be fixed by the board of directors.
(3) The purpose for which the corporation is founded, which
shall include the following:
The purposes of the corporation shall be to promote, stimulate,
develop and advance to business prosperity and economic welfare of
the State of Oklahoma and its citizens; to encourage and assist
through loans, investments or other business transactions in the
location of new business and industry in this state and to improve
and assist existing business and industry, and so to stimulate and
assist in the expansion of all kinds of business activity which will
tend to promote the business development and maintain the economic
stability of this state and provide maximum opportunities for
employment; to cooperate and act in conjunction with other
organizations, public or private, in the promotion and advancement
of industrial, commercial, agricultural and recreational
developments in this state; and to provide financing for the
promotion, development, and conduct of all kinds of business
activity in this state.
Amended by Laws 1986, c. 292, § 154, eff. Nov. 1, 1986.
Frequently Asked Questions About Oklahoma § 18-903
What does Oklahoma Statutes § 18-903 cover?
Section 18-903 ("Organization - Purpose") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 18-903?
A common citation format is "Oklahoma Statutes § 18-903" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 18-903 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.