What is the procedure for issuing stock?

In Oklahoma, the procedure for issuing stock is determined by the Oklahoma General Corporation Act. Generally, stock can be issued either by the board of directors, or by the shareholders. If the stock is issued by the board of directors, the board must approve the issuance of shares at a meeting of the directors. The directors must record the details of the resolution, which should include the number of shares, the type of stock, and the consideration for the shares. The company must then file the details of the resolution with the Oklahoma Secretary of State. If the stock is issued by the shareholders, the shareholders must approve the issuance of shares at a meeting of the shareholders. The shareholders must record the details of the resolution, which should include the number of shares, the type of stock, and the consideration for the shares. The company must then file the details of the resolution with the Oklahoma Secretary of State. Once the details of the resolution have been recorded and filed, the company can proceed with issuing the stock. The company must then issue a certificate of stock to each holder, and file a return with the Secretary of State. The company must also keep records of the stock issuance, such as the number of shares, the type of stock, and the consideration for the shares.

Related FAQs

What are the responsibilities of a corporate officer?
What is the purpose of product liability law?
What is the purpose of environmental law?
What are the rights of shareholders?
What is the procedure for issuing stock?
What are the repercussions of breaking a contract?
What is the process for registering a trademark?
What are the legal requirements for foreign investment?
Who is liable for the debts of a business?
What are the legal risks associated with starting a business?

What is the procedure for issuing stock?

Related FAQs

Related Blog Posts