The bill amends several sections of the Oklahoma Statutes related to the issuance of stock, consideration for stock, and rights and options concerning stock. Key changes include the removal of specific language regarding how consideration for stock is determined, allowing the board of directors greater flexibility in determining the form and manner of payment for stock subscriptions. The bill also introduces new provisions that clarify the minimum consideration for which shares may be issued, ensuring it aligns with existing laws and constitutional requirements. Additionally, it allows for the delegation of authority to issue stock and rights/options to designated persons or bodies, provided certain conditions are met.

Furthermore, the bill modifies the language surrounding the issuance of rights and options, emphasizing that these can be issued in multiple transactions and under terms set by the board of directors. It also specifies that the minimum consideration for shares issued upon the exercise of rights or options must comply with existing statutory requirements. The effective date for these changes is set for November 1, 2026.

Statutes affected:
Introduced: 18-1033, 18-1034, 18-1038