Okla. Stat. » Title 18 — CORPORATIONS
Oklahoma Statutes

Okla. Stat. tit. 18, § 1145 (2026)

Control shares - definition

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CONTROL SHARES; DEFINITION As used in Sections 1145 through 1155 of this title, "control shares" means issued and outstanding shares of an issuing public corporation that, except for Sections 1145 through 1155 of this title, would have voting power, when added to all other shares of the issuing public corporation owned of record or beneficially by an acquiring person or in respect to which that acquiring person may

exercise or direct the exercise of voting power, that would entitle the acquiring person, immediately after acquisition of the shares, directly or indirectly, to exercise or direct the exercise of the voting power of the issuing public corporation in the election of directors within any of the following ranges of voting power: 1. One-fifth (1/5) or more but less than one-third (1/3) of all voting power; 2. One-third (1/3) or more but less than a majority of all voting power; or 3. A majority or more of all voting power. Added by Laws 1987, c. 146, § 15, emerg. eff. June 24, 1987. Amended by Laws 1991, c. 53, § 3, eff. Sept. 1, 1991.

Notes of Decisions
Cited in 2 cases, 1987–1988 · leading case: TLX Acquisition Corp. v. Telex Corp., 679 F. Supp. 1022 (W.D. Okla. 1987).
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TLX Acquisition Corp. v. Telex Corp., 679 F. Supp. 1022 (W.D. Okla. 1987). “, to be codified as Okla.Stat. tit. 18, § 1145 et seq. (sometimes referred to hereinafter as the “Oklahoma Control Shares Act” or “Control Shares Act”).”
Grand Metro. PLC v. Pillsbury Co., 704 F. Supp. 538 (D. Del. 1988). “TLX filed *543 suit in the United States District Court for the Western District of Oklahoma seeking a temporary restraining order and preliminary injunction restraining Telex, the Administrator of the Oklahoma Securities Commission, and the Secretary of State and Attorney…”
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