{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-1035","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-1035","heading":"Determination of amount of capital - Capital, surplus and","body":"net assets defined.\n\nDETERMINATION OF AMOUNT OF CAPITAL; CAPITAL,\n\nSURPLUS AND NET ASSETS DEFINED\n\nAny corporation, by resolution of its board of directors, may\n\ndetermine that only a part of the consideration which shall be\n\nreceived by the corporation for any of the shares of its capital\n\nstock which it shall issue from time to time shall be capital; but,\n\nin case any of the shares issued shall be shares having a par value,\n\nthe amount of the part of such consideration so determined to be\n\ncapital shall be in excess of the aggregate par value of the shares\n\nissued for such consideration having a par value, unless all the\n\nshares issued shall be shares having a par value, in which case the\n\namount of the part of such consideration so determined to be capital\n\nneed be only equal to the aggregate par value of such shares. In\n\neach such case the board of directors shall specify in dollars the\n\npart of such consideration which shall be capital. If the board of\n\ndirectors shall not have determined, at the time of issue of any\n\nshares of the capital stock of the corporation issued for cash or\n\nwithin sixty (60) days after the issue of any shares of the capital\n\nstock of the corporation issued for consideration other than cash,\n\nwhat part of the consideration for such shares shall be capital, the\n\ncapital of the corporation in respect of such shares shall be an\n\namount equal to the aggregate par value of such shares having a par\n\nvalue, plus the amount of the consideration for such shares without\n\npar value. The amount of the consideration so determined to be\n\ncapital in respect of any shares without par value shall be the\n\nstated capital of such shares. The capital of the corporation may\n\nbe increased from time to time by resolution of the board of\n\ndirectors directing that a portion of the net assets of the\n\ncorporation in excess of the amount so determined to be capital be\n\ntransferred to the capital account. The board of directors may\n\ndirect that the portion of such net assets so transferred shall be\n\ntreated as capital in respect of any shares of the corporation of\n\nany designated class or classes. The excess, if any, at any given\n\ntime, of the net assets of the corporation over the amount so\n\ndetermined to be capital shall be surplus. \"Net assets\" means the\n\namount by which total assets exceed total liabilities. Capital and\n\nsurplus are not liabilities for this purpose. Notwithstanding\n\nanything in this section to the contrary, for purposes of this\n\nsection and Sections 1041 and 1049 of this title, the capital of any\n\nnonstock corporation shall be deemed to be zero.","path":["OK Code","Title 18"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os18.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"d3bd8550c6bfe201e892b6bbd97e69a6da679b1eb38642663fc7662237aa5722","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-1034","next":"us-ok/okla.-stat.-tit.-18-18-1036"},"notice":"GroundRules: Original legal text. Not legal advice."}