{"data":{"id":"us-ok/okla.-stat.-tit.-12-12-682","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12, § 12-682","heading":"Given for or against whom - Dismissal of petition - Suits","body":"against officers, directors and shareholders - Statute of\n\nlimitations.\n\nA. Judgment may be given for or against one or more of several\n\nplaintiffs, and for or against one or more of several defendants; it\n\nmay determine the ultimate rights of the parties on either side, as\n\nbetween themselves, and it may grant to the defendant any\n\naffirmative relief to which he or she may be entitled. In an action\n\nagainst several defendants, the court may, in its discretion, render\n\njudgment against one or more of them, leaving the action to proceed\n\nagainst the others whenever a several judgment may be proper. The\n\ncourt may also dismiss the petition with costs, in favor of one or\n\nmore defendants, in case of unreasonable neglect on the part of the\n\nplaintiff to serve the summons on other defendants, or proceed in\n\nthe cause against the defendant or defendants served.\n\nB. No suit or claim of any nature shall be brought against any\n\nofficer, director or shareholder for the debt or liability of a\n\ncorporation of which he or she is an officer, director or\n\nshareholder, until judgment is obtained therefor against the\n\ncorporation and execution thereon returned unsatisfied. This\n\nprovision includes, but is not limited to, claims based on vicarious\n\nliability and alter ego. Provided, nothing herein prohibits a suit\n\nor claim against an officer, director or shareholder for their own\n\nconduct, act or contractual obligation, not within the scope of\n\ntheir role as an officer, director or shareholder, arising out of or\n\nin connection with their direct involvement in the same or related\n\ntransaction or occurrence.\n\nC. Members and managers of limited liability companies shall be\n\nafforded the same substantive and procedural protection from suits\n\nand claims as the protections provided to officers, directors and\n\nshareholders of a corporation as set forth in subsection B of this\n\nsection.\n\nD. The statute of limitations on any claim precluded by this\n\nsection, either against an officer, director or shareholder of a\n\ncorporation or a member or manager of a limited liability company,\n\nshall not accrue until judgment is obtained against the corporation\n\nand execution thereon returned unsatisfied.\n\nR.L. 1910, § 5124. Amended by Laws 2013, c. 265, § 1, eff. Nov. 1,\n\n2013; Laws 2016, c. 116, § 1, eff. Nov. 1, 2016.","path":["OK Code","Title 12"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os12.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"5dd0c344d50d56c0cceaddd21491ce94260e2abaa3c1525fafc0ddad6c8ce303","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12-12-681","next":"us-ok/okla.-stat.-tit.-12-12-683"},"notice":"GroundRules: Original legal text. Not legal advice."}