{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-1078","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-1078","heading":"Retirement of stock","body":"RETIREMENT OF STOCK\n\nA. A corporation, by resolution of its board of directors, may\n\nretire any shares of its capital stock that are issued but are not\n\noutstanding.\n\nB. Whenever any shares of the capital stock of a corporation\n\nare retired, they shall resume the status of authorized and unissued\n\nshares of the class or series to which they belong unless the\n\ncertificate of incorporation otherwise provides. If the certificate\n\nof incorporation prohibits the reissuance of such shares, or\n\nprohibits the reissuance of such shares as a part of a specific\n\nseries only, a certificate stating that reissuance of the shares, as\n\npart of the class or series, is prohibited identifying the shares\n\nand reciting their retirement shall be executed, acknowledged and\n\nfiled and shall become effective in accordance with the provisions\n\nof Section 1007 of this title. When such certificate becomes\n\neffective, it shall have the effect of amending the certificate of\n\nincorporation so as to reduce accordingly the number of authorized\n\nshares of the class or series to which such shares belong or, if\n\nsuch retired shares constitute all of the authorized shares of the\n\nclass or series to which they belong, of eliminating from the\n\ncertificate of incorporation all reference to such class or series\n\nof stock.\n\nC. If the capital of the corporation will be reduced by or in\n\nconnection with the retirement of shares, the reduction of capital\n\nshall be effected pursuant to the provisions of Section 1079 of this\n\ntitle.","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":"73d24c82d1fc070e50be32c866fc4c8ac8aff034f82a5e55a03f9f574c1fc4af","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-1077","next":"us-ok/okla.-stat.-tit.-18-18-1079"},"notice":"GroundRules: Original legal text. Not legal advice."}