{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-405.2","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-405.2","heading":"Employee stock option and stock purchase plans","body":"A. Scope and application. Any bank or trust company may grant\n\noptions to purchase, sell or enter into agreements to sell shares of\n\nits capital stock to its employees, for a consideration of not less\n\nthan one hundred percent (100%) of the fair market value of the\n\nshares on the date the option is granted, or, if pursuant to a stock\n\npurchase plan, one hundred percent (100%) of the fair market value\n\non the date the purchase price is fixed, pursuant to the terms of an\n\nemployee stock option plan or employee stock purchase plan which has\n\nbeen adopted by the board of directors of the bank and approved by\n\nthe holders of at least a majority of the outstanding shares of the\n\nbank entitled to vote and by the Commissioner. Stock options issued\n\nhereunder shall not extend beyond a period of ten (10) years from\n\ndate of issuance and shall otherwise qualify as stock options under\n\nthe provisions of the Internal Revenue Code of 1954, as it may be\n\namended from time to time.\n\nB. Source of shares. Shares issued to employees pursuant to\n\nthis section may be authorized but unissued stock which has been\n\nauthorized by stockholders in accordance with the procedures\n\noutlined in Section 39 of this act.","path":["OK Code","Title 6"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os6.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"a730f34d9af41ff4ef39007c6f154315a09253e7b507789e578393b3a7d77b62","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-405.1","next":"us-ok/okla.-stat.-tit.-6-6-406"},"notice":"GroundRules: Original legal text. Not legal advice."}