§ 441-1209. Other claims against dissolved limited cooperative association
Oklahoma Statutes AnnotatedTitle 18. Corporations
18 Okl.St.Ann. § 441-1209
§ 441-1209. Other claims against dissolved limited cooperative association
OTHER CLAIMS AGAINST DISSOLVED LIMITED COOPERATIVE ASSOCIATION.
(1) Be published at least once in a newspaper of general circulation in the county in which the dissolved limited cooperative association's principal office is located or, if the association does not have a principal office in this state, in the county in which the association's designated office is or was last located;
(c) If a dissolved limited cooperative association publishes a notice in accordance with subsection (b) of this section, the claim of each of the following claimants is barred unless the claimant commences an action to enforce the claim not later than three (3) years after the first publication date of the notice:
(1) A claimant that is entitled to but did not receive notice in a record under Section 109 of this act;1 and
(2) If the association's assets have been distributed in connection with winding up the association's activities, against a member or holder of financial rights to the extent of that person's proportionate share of the claim or the association's assets distributed to the person in connection with the winding up, whichever is less. The person's total liability for all claims under this paragraph shall not exceed the total amount of assets distributed to the person as part of the winding up of the association.
Credits
Laws 2009, c. 68, § 110, eff. Jan. 1, 2010.
Footnotes
Title 18, § 441-1208.
18 Okl. St. Ann. § 441-1209, OK ST T. 18 § 441-1209
Current with emergency effective legislation through Chapter 257 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
End of Document |