OK SB820

Amends 18 O.S. 2011, Section 1006 to modify content requirements and permissible inclusions for certificates of incorporation for business entities organized in Oklahoma.

Requires corporation names to include one of specified designators (such as "corporation," "company," "incorporated," etc.) and distinguishes names from other corporations, partnerships, LLCs, trade names, and reserved names from the preceding three years.

Expands provisions for nonstock corporations to allow flexibility in membership structures, classes of members with varying voting rights, and specify membership conditions in either the certificate of incorporation or bylaws.

Permits certificates of incorporation to include provisions for preemptive rights, supermajority voting requirements, limited director liability, personal shareholder liability for debts, and limited corporate duration.

Effective date: November 1, 2017.