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OK HB1646
Bill
Status
3/5/2013
Primary Sponsor
Brian Bingman
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AI Summary
HB 1646 Summary
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Amends 18 O.S. 2011, Section 1027 (Oklahoma General Corporation Act) regarding board of directors structure and governance.
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Eliminates the mandatory requirement for domestic corporations with publicly traded stock and 1,000+ shareholders to divide their board of directors into two or three classes.
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Removes exception provisions and resolution processes previously required for certain elections involving classified boards.
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Declares an emergency, making the act effective immediately upon passage and approval.
Legislative Description
Corporations; Oklahoma General Corporation Act; deleting mandate of dividing board of directors into classes for certain type of corporation; emergency.
Business and Economic Development
Last Action
Approved by Governor 03/05/2013
3/5/2013