Oklahoma § 18-1126 - Shareholder's derivative action - Allegation of stock
Full text of Oklahoma Oklahoma Statutes § 18-1126 — Shareholder's derivative action - Allegation of stock, with citation guidance and answers to common questions.
§ 18-1126. Shareholder's derivative action - Allegation of stock
ownership - Award of costs and attorney fees.
SHAREHOLDER'S DERIVATIVE ACTION; ALLEGATION OF STOCK OWNERSHIP
Oklahoma Statutes - Title 18. Corporations
A. In any derivative suit instituted by a shareholder of a
corporation, it shall be averred in the petition that the plaintiff
was a shareholder of the corporation at the time of the transaction
of which the plaintiff complains or that the plaintiff's stock
thereafter devolved upon him or her by operation of law.
B. If a derivative action confers a substantial benefit upon
the corporation as a result of a compromise or settlement of an
action or claim, the court may award the plaintiff reasonable costs,
including reasonable attorney fees, and shall direct the plaintiff
to remit to the corporation the remainder of all proceeds received.
C. In any derivative action instituted by a shareholder of a
domestic or foreign corporation, the court having jurisdiction, upon
final judgment, shall require the nonprevailing party or parties to
pay the prevailing party or parties the reasonable expenses,
including attorney fees, taxable as costs, incurred as a result of
such action.
Added by Laws 1986, c. 292, § 126, eff. Nov. 1, 1986. Amended by
Laws 2014, c. 330, § 1, eff. Nov. 1, 2014.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 18-1126
What does Oklahoma Statutes § 18-1126 cover?
Section 18-1126 ("Shareholder's derivative action - Allegation of stock") 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 § 18-1126?
A common citation format is "Oklahoma Statutes § 18-1126" (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 § 18-1126 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.