{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-1149","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-1149","heading":"Law governing control share voting rights","body":"LAW GOVERNING CONTROL SHARE VOTING RIGHTS\n\nAfter a control share acquisition occurs, control shares of the\n\nacquiring person have only such voting rights as are conferred by\n\nthis section.\n\n1. Subject to the provisions of paragraphs 2 through 4 of this\n\nsection, the voting power of control shares having voting power of\n\none-fifth (1/5) or more of all voting power is reduced to zero\n\nunless the shareholders of the issuing public corporation approve a\n\nresolution pursuant to the procedure set forth in Section 1153 of\n\nthis title according the shares the same voting rights as they had\n\nbefore they became control shares.\n\n2. Except as provided in subsection A of Section 1153 of this\n\ntitle, the voting power of control shares representing voting power\n\nof less than one-fifth (1/5) of all voting power is not affected by\n\nSections 1145 through 1155 of this title.\n\n3. If control shares of the acquiring person previously have\n\nbeen accorded, pursuant to the procedure set forth in Section 1153\n\nof this title, the same voting rights they had before they became\n\ncontrol shares, or if such control shares were acquired in a\n\ntransaction excluded from the definition of \"control share\n\nacquisition\", then only the voting power of control shares acquired\n\nin a subsequent control share acquisition by such acquiring person\n\nwithin a higher range of voting power shall be reduced to zero.\n\n4. The voting rights of control shares are restored to those\n\naccorded such shares prior to the control share acquisition in any\n\nof the following circumstances:\n\n(a) if, by reason of subsequent issuances of shares or\n\nother transactions by the issuing public corporation,\n\nthe voting power of those control shares is reduced to\n\na range of voting power for which approval has been\n\ngranted or is not required; or\n\n(b) upon transfer to a person other than an acquiring\n\nperson; or\n\n(c) the expiration of three (3) years after the date of a\n\nvote of shareholders, pursuant to Section 1153 of this\n\ntitle, failing to approve the resolution according\n\nvoting rights to those control shares.","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":"32ef9c3ec3450d8f5d8bf774c68b7033d804eb494c7d2737792fcfe23cb1870d","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-1148a","next":"us-ok/okla.-stat.-tit.-18-18-1150"},"notice":"GroundRules: Original legal text. Not legal advice."}