{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-1117","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-1117","heading":"Compromise or arrangement between corporation and","body":"creditors or shareholders.\n\nCOMPROMISE OR ARRANGEMENT BETWEEN CORPORATION AND CREDITORS\n\nOR SHAREHOLDERS\n\nA. Whenever the provision provided for in paragraph 2 of\n\nsubsection B of Section 1006 of this title is included in the\n\noriginal certificate of incorporation of any corporation, all\n\npersons who become creditors or shareholders thereof shall be deemed\n\nto have become such creditors or shareholders subject in all\n\nrespects to that provision and the same shall be absolutely binding\n\nupon them. Whenever that provision is inserted in the certificate of\n\nincorporation of any such corporation by an amendment of its\n\ncertificate all persons who become creditors or shareholders of such\n\ncorporation after such amendment shall be deemed to have become such\n\ncreditors or shareholders subject in all respects to that provision\n\nand the same shall be absolutely binding upon them.\n\nB. The district court may administer and enforce any compromise\n\nor arrangement made pursuant to the provision provided for in\n\nparagraph 2 of subsection B of Section 1006 of this title and may\n\nrestrain, pendente lite, all actions and proceedings against any\n\ncorporation with respect to which the district court shall have\n\nbegun the administration and enforcement of that provision and may\n\nappoint a temporary receiver for such corporation and may grant the\n\nreceiver such powers as it deems proper, and may make and enforce\n\nsuch rules as it deems necessary for the exercise of such\n\njurisdiction.","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":"f6db70e3c3856174a7d653e5f27dd27b62857a303b995dd093d8f0be04704de8","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-1116","next":"us-ok/okla.-stat.-tit.-18-18-1118"},"notice":"GroundRules: Original legal text. Not legal advice."}