{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-1045","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-1045","heading":"Failure to Pay for Stock - Remedies","body":"FAILURE TO PAY FOR STOCK; REMEDIES\n\nWhen any shareholder fails to pay any installment or call upon\n\nhis stock which may have been properly demanded by the directors, at\n\nthe time when such payment is due, the directors may collect the\n\namount of any such installment or call or any balance thereof\n\nremaining unpaid, from the said shareholder by an action at law, or\n\nthey shall sell at public sale such part of the shares of such\n\ndelinquent shareholder as will pay all demands then due from him\n\nwith interest and all incidental expenses, and shall transfer the\n\nshares so sold to the purchaser, who shall be entitled to a\n\ncertificate therefor. Notice of the time and place of such sale and\n\nof the sum due on each share shall be given by advertisement at\n\nleast one (1) week before the sale, in a newspaper of the county in\n\nthis state where such corporation's registered office is located,\n\nand such notice shall be mailed by the corporation to such\n\ndelinquent shareholder at his last-known post office address, at\n\nleast twenty (20) days before such sale. If no bidder can be had to\n\npay the amount due on the stock, and if the amount is not collected\n\nby an action at law, which may be brought within the county where\n\nthe corporation has its registered office, within one (1) year from\n\nthe date of the bringing of such action at law, said stock and the\n\namount previously paid in by the delinquent shareholder on the stock\n\nshall be forfeited to the corporation.","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":"64bfa492e257b5f41282e489b4632e8a5482d78c98f3794c2dadaeef271893d8","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-1044","next":"us-ok/okla.-stat.-tit.-18-18-1046"},"notice":"GroundRules: Original legal text. Not legal advice."}