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Legislative updates

Senate Bill 228, effective November 1, 2021, amends (i) the corporation law regarding a number of topics including electronic meeting notices and document deliveries, capital stock, ratification of defective corporate acts, shareholder lists, corporate record-keeping, shareholder consent to action without a meeting, mergers and consolidations, conversions, business combinations and shareholder appraisal rights; (ii) the LLC law regarding registered agents, managers, conversions and authorization for public benefit LLCs; and (iii) the LP law regarding registered agents.

Senate Bill 642, effective November 1, 2019, amends the Oklahoma General Corporation Act including, but not limited to, provisions related to applicability of the Act to nonstock corporations, contents of certificates of incorporation, execution of corporate instruments, adoption of bylaws, director committees, delayed effective dates for director written consents to action, mergers and consolidations, conversions, and repeal of the publication requirement related to nonprofit corporation dissolutions.

House Bill 2423, effective November 1, 2019, amends the Corporations title by authorizing new and existing business corporations to become benefit corporations with the purpose of providing general and specific public benefit as defined in the Bill.

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Other notices

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