{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-1051","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-1051","heading":"Liability of directors as to dividends or stock","body":"redemption.\n\nLIABILITY OF DIRECTORS AS TO DIVIDENDS OR STOCK REDEMPTION\n\nA member of the board of directors, or a member of any committee\n\ndesignated by the board of directors, shall be fully protected in\n\nrelying in good faith upon the records of the corporation and upon\n\nsuch information, opinions, reports or statements presented to the\n\ncorporation by any of its officers or employees, or committees of\n\nthe board of directors, or by any other person as to matters the\n\ndirector reasonably believes are within such officer's, employee's,\n\ncommittee's or other person's competence and who have been selected\n\nwith reasonable care by or on behalf of the corporation, as to the\n\nvalue and amount of the assets, liabilities and/or net profits of\n\nthe corporation, or any other facts pertinent to the existence and\n\namount of surplus or other funds from which dividends might properly\n\nbe declared and paid, or with which the corporation's stock might\n\nproperly be purchased or redeemed.","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":"a9aeba1e604be892c2d56ffeb1c6c2c3d3462c6b9a0e2d9e1a62a80e6b35408b","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-1050","next":"us-ok/okla.-stat.-tit.-18-18-1052"},"notice":"GroundRules: Original legal text. Not legal advice."}