{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-1079","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-1079","heading":"Reduction of Capital","body":"REDUCTION OF CAPITAL\n\nA. A corporation, by resolution of its board of directors, may\n\nreduce its capital in any of the following ways:\n\n1. By reducing or eliminating the capital represented by shares\n\nof capital stock which have been retired; or\n\n2. By applying to an otherwise authorized purchase or\n\nredemption of outstanding shares of its capital stock some or all of\n\nthe capital represented by the shares being purchased or redeemed,\n\nor any capital that has not been allocated to any particular class\n\nof its capital stock; or\n\n3. By applying to an otherwise authorized conversion or\n\nexchange of outstanding shares of its capital stock some or all of\n\nthe capital represented by the shares being converted or exchanged,\n\nor some or all of any capital that has not been allocated to any\n\nparticular class of its capital stock, or both, to the extent that\n\nsuch capital in the aggregate exceeds the total aggregate par value\n\nor the stated capital of any previously unissued shares issuable\n\nupon such conversion or exchange; or\n\n4. By transferring to surplus:\n\na. some or all of the capital not represented by any\n\nparticular class of its capital stock; or\n\nb. some or all of the capital represented by issued\n\nshares of its par value capital stock, which capital\n\nis in excess of the aggregate par value of such\n\nshares; or\n\nc. some of the capital represented by issued shares of\n\nits capital stock without par value.\n\nB. Notwithstanding the other provisions of this section, no\n\nreduction of capital shall be made or effected unless the assets of\n\nthe corporation remaining after such reduction shall be sufficient\n\nto pay any debts of the corporation for which payment has not been\n\notherwise provided. No reduction of capital shall release any\n\nliability of any shareholder whose shares have not been fully paid.","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":"84d65f09742e75c003b7f341c4c8b35d58e3265f0ac2982f0ca13be3c0b1d8c6","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-1078","next":"us-ok/okla.-stat.-tit.-18-18-1080"},"notice":"GroundRules: Original legal text. Not legal advice."}