{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-1036","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-1036","heading":"Fractions of Shares","body":"\n\nFRACTIONS OF SHARES\n\nA corporation may, but shall not be required to, issue fractions\n\nof a share. If it does not issue fractions of a share, it shall:\n\n1. arrange for the disposition of fractional interests by those\n\nentitled thereto; or\n\n2. pay in cash the fair value of fractions of a share as of the\n\ntime when those entitled to receive such fractions are determined;\n\nor\n\n3. issue scrip or warrants in registered form (either\n\nrepresented by a certificate or be uncertificated) or in bearer form\n\n(represented by a certificate) which shall entitle the holder to\n\nreceive a certificate for a full share upon the surrender of such\n\nscrip or warrants aggregating a full share.\n\nA certificate for a fractional share or an uncertificated fractional\n\nshare shall, but scrip or warrants shall not unless otherwise\n\nprovided therein, entitle the holder to exercise voting rights, to\n\nreceive dividends thereon, and to participate in any of the assets\n\nof the corporation in the event of liquidation. The board of\n\ndirectors may cause scrip or warrants to be issued subject to the\n\nconditions that they shall become void if not exchanged for\n\ncertificates representing the full shares or uncertificated full\n\nshares before a specified date, or subject to the conditions that\n\nthe shares for which scrip or warrants are exchangeable may be sold\n\nby the corporation and the proceeds thereof distributed to the\n\nholders of scrip or warrants, or subject to any other conditions\n\nwhich the board of directors may impose.","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":"f6ef83fc78276a6e9692b86f80ba1f4086934ad39f2bfff0537edbdbd61be176","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-1035","next":"us-ok/okla.-stat.-tit.-18-18-1037"},"notice":"GroundRules: Original legal text. Not legal advice."}