{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-1153","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-1153","heading":"Resolution granting control share voting rights","body":"RESOLUTION GRANTING CONTROL SHARE VOTING RIGHTS\n\nA. All votes cast at the meeting for or against the resolution\n\ncontained in the acquiring person statement must be identified as\n\nnoninterested shares. To be approved, the resolution shall receive\n\nthe affirmative votes of a majority of all voting power, excluding\n\nall interested shares. If the resolution is not approved, the\n\nacquiring person, not sooner than six (6) months after disapproval\n\nof the resolution, may present a new resolution for a vote of\n\nshareholders in accordance with this section at any subsequent\n\nshareholders meeting.\n\nB. A proxy relating to a meeting of shareholders to be held\n\npursuant to Section 1151 of this title shall be solicited separately\n\nfrom the offer to purchase or solicitation of an offer to sell\n\nshares of the issuing public corporation.\n\nC. 1. For purposes of this subsection, \"competing control\n\nshare acquisition\" means a control share acquisition or proposed\n\ncontrol share acquisition that is the subject of an acquiring person\n\nstatement delivered to the issuing public corporation pursuant to\n\nSection 1150 of this title not less than twenty-five (25) days prior\n\nto the scheduled annual or special meeting date which has been or is\n\nrequired to be established pursuant to Section 1151 of this title\n\nwith respect to a pending control share acquisition.\n\n2. In the event that a competing control share acquisition is\n\nmade or proposed, the issuing public corporation shall, at the\n\noption of the acquiring person making the competing control share\n\nacquisition, call for a vote of shareholders to consider the\n\nresolution relating to the voting rights of the competing control\n\nshare acquisition at the same meeting that has been or is to be\n\ncalled to consider the voting rights of the pending control share\n\nacquisition. In the event the acquiring person making the competing\n\ncontrol share acquisition does not elect in writing to have the\n\nresolution relating to the voting rights of the competing control\n\nshare acquisition considered at the same meeting, any vote shall be\n\nheld as provided in Section 1153 of this title, except that in such\n\ncase no vote shall be called on the competing control share\n\nacquisition prior to the earlier of the vote on the resolution\n\nrelating to voting rights of the pending control share acquisition\n\nor fifty-one (51) days after receipt by the issuing public\n\ncorporation of the request for a meeting by the acquiring person\n\nmaking the pending control share acquisition.\n\n3. If more than one resolution relating to a control share\n\nacquisition is to be considered at any meeting or at meetings\n\nscheduled for or occurring on the same day, all such resolutions\n\nrelating to the voting rights of acquiring persons shall be\n\nconsidered by shareholders in the order in which the initial\n\nacquiring person statements relating to such control share\n\nacquisitions were delivered to the issuing public corporation.\n\nHowever, no resolution approved by shareholders shall become\n\neffective until midnight of the date on which the respective\n\nshareholder approval occurs.\n\n4. If resolutions relating to two (2) or more control share\n\nacquisitions are subject to shareholder vote pursuant to Section\n\n1153 of this title, shares held by an acquiring person are\n\nconsidered interested shares only for purposes of a vote on a\n\nresolution relating to a control share acquisition by that same\n\nacquiring person.","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":"41bf34cffde2ba9565ee481f45f487366f499c8a0605ae4d98da3eb90b35e00e","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-1152","next":"us-ok/okla.-stat.-tit.-18-18-1154"},"notice":"GroundRules: Original legal text. Not legal advice."}