OK SB1799

Amends 18 O.S. 2011, Section 1126 regarding shareholder derivative actions in corporations.

Changes language from gender-specific pronouns ("he," "his") to gender-neutral terms ("the plaintiff").

Allows courts to award reasonable costs and attorney fees to plaintiffs in derivative actions that confer substantial benefits on the corporation.

Requires the nonprevailing party in derivative actions to pay the prevailing party's reasonable expenses and attorney fees as taxable costs.

Effective date: November 1, 2014.