Oklahoma § 18-1036
Full text of Oklahoma Oklahoma Statutes § 18-1036, with citation guidance and answers to common questions.
§ 18-1036.
Fractions of Shares.
Oklahoma Statutes - Title 18. Corporations
FRACTIONS OF SHARES
A corporation may, but shall not be required to, issue fractions
of a share. If it does not issue fractions of a share, it shall:
1. arrange for the disposition of fractional interests by those
entitled thereto; or
2. pay in cash the fair value of fractions of a share as of the
time when those entitled to receive such fractions are determined;
or
3. issue scrip or warrants in registered form (either
represented by a certificate or be uncertificated) or in bearer form
(represented by a certificate) which shall entitle the holder to
receive a certificate for a full share upon the surrender of such
scrip or warrants aggregating a full share.
A certificate for a fractional share or an uncertificated fractional
share shall, but scrip or warrants shall not unless otherwise
provided therein, entitle the holder to exercise voting rights, to
receive dividends thereon, and to participate in any of the assets
of the corporation in the event of liquidation. The board of
directors may cause scrip or warrants to be issued subject to the
conditions that they shall become void if not exchanged for
certificates representing the full shares or uncertificated full
shares before a specified date, or subject to the conditions that
the shares for which scrip or warrants are exchangeable may be sold
by the corporation and the proceeds thereof distributed to the
holders of scrip or warrants, or subject to any other conditions
which the board of directors may impose.
Added by Laws 1986, c. 292, § 36, eff. Nov. 1, 1986.
Frequently Asked Questions About Oklahoma § 18-1036
What does Oklahoma Statutes § 18-1036 cover?
Section 18-1036 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 § 18-1036?
A common citation format is "Oklahoma Statutes § 18-1036" (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 § 18-1036 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.