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Can you summarize OKST Title 21, Chapter 64?
Crimes and Punishments > Frauds and Offenses in Corporate Affairs
Short Summary
The provided legal document content pertains to the Frauds and Offenses in Corporate Affairs under the Oklahoma Statutes’ Crimes and Punishments section. It applies to directors, officers, agents, and members of corporations or joint stock associations. The document outlines various provisions and offenses related to corporate affairs. It states that any director who concurs in or participates in any act, proceeding, or omission of the directors that violates the article is deemed to have concurred therein. It also establishes that any director is deemed to possess knowledge of the affairs of the corporation to determine if any act, proceeding, or omission of the directors violates the article. The document further addresses offenses such as refusing to allow stockholders or members to inspect corporate documents, fraudulent insolvency of moneyed corporations, willful acts or omissions by directors, false reports or statements of corporate affairs, and fraudulent possession of corporate property. The penalties for non-compliance or violation of the provisions include imprisonment and fines. No specific exemptions are mentioned in these documents.
Whom does it apply to?
Directors, officers, agents, and members of corporations or joint stock associations
What does it govern?
Frauds and Offenses in Corporate Affairs
What are exemptions?
No specific exemptions are mentioned in these documents.
What are the Penalties?
The penalties for non-compliance or violation of the provisions include imprisonment in the State Penitentiary for a period not exceeding ten (10) years and not less than three (3) years, or imprisonment in a county jail for a period not exceeding one (1) year, or a fine not exceeding Five Hundred Dollars ($500.00), or both fine and imprisonment.
Jurisdiction
Oklahoma