§ 2001. Definitions
Oklahoma Statutes AnnotatedTitle 18. CorporationsEffective: November 1, 2021
Effective: November 1, 2021
18 Okl.St.Ann. § 2001
§ 2001. Definitions
As used in the Oklahoma Limited Liability Company Act, unless the context otherwise requires:
2. “Bankrupt” means bankrupt under the United States Bankruptcy Code, as amended,1 or insolvent under any state insolvency act;
4. “Capital contribution” means anything of value that a person contributes to the limited liability company as a prerequisite for, or in connection with, membership including cash, property, services rendered or a promissory note or other binding obligation to contribute cash or property or to perform services;
5. “Capital interest” means the fair market value as of the date contributed of a member's capital contribution as adjusted for any additional capital contributions or withdrawals, a person's share of the profits and losses of a limited liability company and a person's right to receive distributions of the limited liability company's assets;
16. “Membership interest” or “interest” means a member's rights in the limited liability company, collectively including the member's share of the profits and losses of the limited liability company, the right to receive distributions of the limited liability company's assets and capital interest, any right to vote or participate in management and such other rights accorded to members under the articles of organization, operating agreement or the Oklahoma Limited Liability Company Act;
17. “Operating agreement”, regardless of whether referred to as an operating agreement and whether oral, in a record, implied or in any combination thereof, means any agreement of the members, including a sole member, as to the affairs of a limited liability company and the conduct of its business including the agreement as amended or restated;
Laws 1992, c. 148, § 2, eff. Sept. 1, 1992; Laws 1993, c. 366, § 2, eff. Sept. 1, 1993; Laws 1997, c. 145, § 1, eff. Nov. 1, 1997; Laws 2008, c. 253, § 16, eff. Jan. 1, 2010; Laws 2017, c. 323, § 37, eff. Nov. 1, 2017; Laws 2021, c. 51, § 18, eff. Nov. 1, 2021.
11 U.S.C.A. § 101 et seq.
18 Okl. St. Ann. § 2001, OK ST T. 18 § 2001
Current with emergency effective legislation through Chapter 317 of the First Regular Session of the 59th Legislature (2023). Some sections may be more current, see credits for details.
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