Oklahoma § 6-405.1 - Authorized but unissued stock
Full text of Oklahoma Oklahoma Statutes § 6-405.1 — Authorized but unissued stock, with citation guidance and answers to common questions.
§ 6-405.1. Authorized but unissued stock
Any bank or trust company, with the written approval of the
Commissioner and by majority vote of the outstanding voting stock,
may by proper amendment to its certificate of incorporation
authorize an increase in the common stock of the bank in the
category of authorized but unissued stock. Such authorized but
unissued stock may be issued from time to time to employees of the
bank pursuant to a stock option or stock purchase plan adopted in
accordance with the provisions of Section 40 of this act or in
exchange for convertible preferred stock or convertible capital
debentures in accordance with the terms and provisions of such
securities. Authorized but unissued stock may also be issued from
time to time for such other purposes and considerations as may be
approved by the board of directors of the bank and by the written
approval of the Commissioner.
Added by Laws 1997, c. 111, § 39, eff. July 1, 1997. Amended by
Laws 1997, c. 374, § 2, eff. July 1, 1997.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 6-405.1
What does Oklahoma Statutes § 6-405.1 cover?
Section 6-405.1 ("Authorized but unissued 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 § 6-405.1?
A common citation format is "Oklahoma Statutes § 6-405.1" (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 § 6-405.1 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.