{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-433","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-433","heading":"Illegal dividends - Liability of directors","body":"If the directors of such corporation shall declare and pay any\n\ndividend or apportionment of earnings, or profits to members or\n\nnonmembers when the corporation is insolvent or when it would be\n\nrendered insolvent by such payment, such directors shall be jointly\n\nand severally liable for all debts of the corporation then existing\n\nand for all such debts as shall be thereafter incurred while they\n\nshall respectively continue in office. Any director may relieve\n\nhimself from such liability at any time before the time fixed for\n\nthe payment of such dividend or apportionment by filing a\n\ncertificate in writing of his objection with the secretary of the\n\ncorporation, and with the county clerk of the county in which the\n\nprincipal office is located.","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":"fba9f1a0cb58cf1af2fd2958f5d5979a6074cd8768e0128753fc6e38b57d320c","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-432","next":"us-ok/okla.-stat.-tit.-18-18-434"},"notice":"GroundRules: Original legal text. Not legal advice."}