Oklahoma § 12-682 - Given for or against whom - Dismissal of petition - Suits

§ 12-682. Given for or against whom - Dismissal of petition - Suits

against officers, directors and shareholders - Statute of

limitations.

A. Judgment may be given for or against one or more of several

plaintiffs, and for or against one or more of several defendants; it

may determine the ultimate rights of the parties on either side, as

between themselves, and it may grant to the defendant any

affirmative relief to which he or she may be entitled. In an action

against several defendants, the court may, in its discretion, render

judgment against one or more of them, leaving the action to proceed

against the others whenever a several judgment may be proper. The

court may also dismiss the petition with costs, in favor of one or

more defendants, in case of unreasonable neglect on the part of the

plaintiff to serve the summons on other defendants, or proceed in

the cause against the defendant or defendants served.

B. No suit or claim of any nature shall be brought against any

officer, director or shareholder for the debt or liability of a

corporation of which he or she is an officer, director or

shareholder, until judgment is obtained therefor against the

corporation and execution thereon returned unsatisfied. This

provision includes, but is not limited to, claims based on vicarious

liability and alter ego. Provided, nothing herein prohibits a suit

or claim against an officer, director or shareholder for their own

conduct, act or contractual obligation, not within the scope of

their role as an officer, director or shareholder, arising out of or

in connection with their direct involvement in the same or related

transaction or occurrence.

C. Members and managers of limited liability companies shall be

afforded the same substantive and procedural protection from suits

and claims as the protections provided to officers, directors and

shareholders of a corporation as set forth in subsection B of this

section.

D. The statute of limitations on any claim precluded by this

section, either against an officer, director or shareholder of a

corporation or a member or manager of a limited liability company,

Oklahoma Statutes - Title 12. Civil Procedure

shall not accrue until judgment is obtained against the corporation

and execution thereon returned unsatisfied.

R.L. 1910, § 5124. Amended by Laws 2013, c. 265, § 1, eff. Nov. 1,

2013; Laws 2016, c. 116, § 1, eff. Nov. 1, 2016.