Oklahoma Clauses Relating to Initial Capital Contributions The state of Oklahoma has specific legal provisions and regulations governing initial capital contributions for various entities such as partnerships, limited liability companies (LCS), and corporations. These clauses outline the obligations and responsibilities of the founding members or shareholders in terms of contributing capital to ensure the smooth functioning and financial stability of the entity. Here are some noteworthy types of Oklahoma Clauses Relating to Initial Capital Contributions: 1. Partnership Initial Capital Contribution Clause: In Oklahoma, partnerships are required to have a clear agreement among the partners regarding initial capital contributions. This clause defines the monetary or non-monetary assets that each partner must contribute, whether in the form of cash, property, or services, and the respective valuation methods. 2. LLC Initial Capital Contribution Clause: Oklahoma's laws governing LCS require the members to contribute an initial capital investment, which is outlined in this clause of the operating agreement. It specifies the overall amount or percentage of capital each member must contribute, the payment schedule, and the consequences of non-compliance. 3. Corporation Initial Capital Stock Clause: Oklahoma statutes governing corporations state that shareholders must contribute capital by purchasing shares of the company. This clause establishes provisions related to stock issuance, the number of shares, par value, and the minimum initial capital requirement. It may also outline any limitations or rights associated with particular classes of shares. 4. Additional Capital Contribution Clause: While not specific to Oklahoma, this clause may be included in the governing documents of any entity type. It addresses the scenario where additional funding is required beyond the initial capital contribution. It outlines the rules and procedures for subsequent contributions, including the percentage of ownership that might be affected by each contribution, and the consequences of non-compliance with additional funding requests. 5. Capital Contributions and Membership Interest Clause: This clause is commonly found in LLC operating agreements. It details how an individual's membership interest can change with different capital contributions. It may establish a formula or procedure to adjust ownership percentages when new members join, existing members contribute additional capital, or there are changes in the business valuation. Oklahoma's statutes and regulations provide a framework for establishing and maintaining the initial capital contributions of different entities. It is important for partners, members, and shareholders to carefully review and adhere to the applicable clauses to ensure compliance with the law and mitigate potential disputes arising from capital contribution issues. Consulting with a legal professional experienced in Oklahoma business law is highly recommended when drafting or reviewing these clauses to ensure accuracy and validity.
Oklahoma Clauses Relating to Initial Capital contributions
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The conversion of any entity into a domestic limited liability company shall not be deemed to affect any obligations or liabilities of the entity incurred before its conversion to a domestic limited liability company or the personal liability of any person incurred before the conversion. F.
Oklahoma Statutes Title 18, Chapter 22 The Act also outlines the rights, duties, and liabilities of homeowners associations, as well as the powers and authority of the board of directors, members, and officers.
A domestic limited liability company that has ceased to be in good standing or a foreign limited liability company that has ceased to be registered in this state may not maintain any action, suit or proceeding in any court of this state until the domestic limited liability company has been reinstated as a domestic ...
PLEASE NOTE: Title 18, O.S., Section 552.4 pertains to persons and organizations that are exempt from the requirement to register with the Secretary of State. Be advised that this office CANNOT make the determination as to whether a person or organization conforms to one of the exemptions listed.
Title 18, Section 2049 The following activities of a foreign limited liability company, among others, do not constitute transacting business within the meaning of this act: 1. Maintaining, defending, or settling any proceeding; 2.
Corporations. §18-1140.2. Transfer of trade name. In the event a corporation or other business entity elects to transfer ownership of a trade name to another corporation or business entity, it shall file a report, in duplicate, with the Secretary of State, specifying such transfer.