Oklahoma Code § 18-1079

REDUCTION OF CAPITAL
A.  A corporation, by resolution of its board of directors, may
reduce its capital in any of the following ways:
1.  By reducing or eliminating the capital represented by shares
of capital stock which have been retired; or
2.  By applying to an otherwise authorized purchase or
redemption of outstanding shares of its capital stock some or all of
the capital represented by the shares being purchased or redeemed,
or any capital that has not been allocated to any particular class
of its capital stock; or
3.  By applying to an otherwise authorized conversion or
exchange of outstanding shares of its capital stock some or all of
the capital represented by the shares being converted or exchanged,
or some or all of any capital that has not been allocated to any
particular class of its capital stock, or both, to the extent that
such capital in the aggregate exceeds the total aggregate par value
or the stated capital of any previously unissued shares issuable
upon such conversion or exchange; or
4.  By transferring to surplus:
a. some or all of the capital not represented by any
particular class of its capital stock; or
b. some or all of the capital represented by issued
shares of its par value capital stock, which capital
is in excess of the aggregate par value of such
shares; or
c. some of the capital represented by issued shares of
its capital stock without par value.
B.  Notwithstanding the other provisions of this section, no
reduction of capital shall be made or effected unless the assets of
the corporation remaining after such reduction shall be sufficient
to pay any debts of the corporation for which payment has not been
otherwise provided.  No reduction of capital shall release any
liability of any shareholder whose shares have not been fully paid.

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