Oklahoma § 18-1145

§ 18-1145.

Control shares - definition.

CONTROL SHARES; DEFINITION

As used in Sections 1145 through 1155 of this title, "control

shares" means issued and outstanding shares of an issuing public

corporation that, except for Sections 1145 through 1155 of this

title, would have voting power, when added to all other shares of

the issuing public corporation owned of record or beneficially by an

acquiring person or in respect to which that acquiring person may

Oklahoma Statutes - Title 18. Corporations

exercise or direct the exercise of voting power, that would entitle

the acquiring person, immediately after acquisition of the shares,

directly or indirectly, to exercise or direct the exercise of the

voting power of the issuing public corporation in the election of

directors within any of the following ranges of voting power:

1. One-fifth (1/5) or more but less than one-third (1/3) of all

voting power;

2. One-third (1/3) or more but less than a majority of all

voting power; or

3. A majority or more of all voting power.

Added by Laws 1987, c. 146, § 15, emerg. eff. June 24, 1987.

Amended by Laws 1991, c. 53, § 3, eff. Sept. 1, 1991.