A. This act shall be known and may be cited as the "Oklahoma Benefit Corporation Act". This act shall be applicable to all benefit corporations.

B. The existence of a provision of this act shall not of itself create an implication that a contrary or different rule is applicable to a corporation that is not a benefit corporation. This act shall not affect a statute or rule that is applicable to a corporation that is not a benefit corporation.

C. Except as otherwise provided in this act, the Oklahoma General Corporation Act shall be generally applicable to all benefit corporations that are not state banks or trust companies. A benefit corporation that is not a state bank or trust company may be subject simultaneously to this act and the Oklahoma General Corporation Act, Professional Entity Act and other applicable business formation statutes; however, the provisions of this act shall control over the provisions of the Oklahoma General Corporation Act, Professional Entity Act and other applicable business formation statutes where there is a conflict.

D. Except as otherwise provided in this act, the Oklahoma Banking Code shall be generally applicable to all benefit corporations that are state banks or trust companies. A benefit corporation that is a state bank or trust company may be subject simultaneously to this act and the Oklahoma Banking Code; however, the provisions of this act shall control over the provisions of the Oklahoma Banking Code where there is a conflict.

E. A provision of the certificate of incorporation or bylaws of a benefit corporation shall not limit, be inconsistent with or supersede a provision of this act.

Added by Laws 2019, c. 45, § 1, eff. Nov. 1, 2019.