{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-709","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-709","heading":"Rights of preferred shareholders - Dividends - Voting and","body":"conversion rights.\n\nA. Dividends. Notwithstanding any other provision of law,\n\nwhether related to restrictions upon payment of dividends upon\n\ncapital stock or otherwise, the holders of preferred stock shall be\n\nentitled to receive cumulative dividends only if provided for in the\n\nbank or trust company’s certificate of incorporation or amendment\n\nthereto.\n\nB. Dividends on common stock may not be paid until dividends on\n\npreferred stock have been paid - Retirement. No dividends shall be\n\ndeclared or paid on common stock until the cumulative dividends on\n\nthe preferred stock shall have been paid in full. If the bank or\n\ntrust company is placed in voluntary or involuntary liquidation, no\n\ndividends shall be paid to the holders of common stock until the\n\nholders of preferred stock shall have been paid in full the par\n\nvalue or the retirement price (whichever is greater) of such stock\n\nplus any authorized accumulated dividends.\n\nC. Voting rights - Conversion - Retirement. Preferred stock\n\nshall have such voting and conversion rights and such control of\n\nmanagement, and shall be subject to retirement at such price and in\n\nsuch manner and upon such conditions, as may be provided in the\n\ncertificate of incorporation or any amendment thereto, with the\n\napproval of the Board.","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":"af8ba0dc7d01d9c3cde538472cd65b59ff967cdc7e75215c7e7d49b48dbb89d8","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-708","next":"us-ok/okla.-stat.-tit.-6-6-710"},"notice":"GroundRules: Original legal text. Not legal advice."}