Oklahoma Statutes (Last Updated: September 18, 2014)

§ 18-2058. Rules of construction of act.

Latest version.

RULES OF CONSTRUCTION OF ACT
A. The rules that statutes in derogation of the common law are to be strictly construed shall have no application to the Oklahoma General Corporation Act.
B. The law of estoppel shall apply to this act.
C. The law of agency shall apply under this act.
D. It is the policy of this act to give the maximum effect to the principle of freedom of contract and to the enforceability of operating agreements.
E. This act shall not be construed so as to impair the obligations of any contract existing when the act goes into effect, nor to affect any action or proceedings begun or right accrued before this act takes effect.

Added by Laws 1992, c. 148, § 59, eff. Sept. 1, 1992. Amended by Laws 2001, c. 405, § 40, eff. Nov. 1, 2001.

                    
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