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§ 441-303. Organization of limited cooperative association

Oklahoma Statutes AnnotatedTitle 18. Corporations

Oklahoma Statutes Annotated
Title 18. Corporations (Refs & Annos)
Chapter 10A. Uniform Limited Cooperative Association Act (Refs & Annos)
Article 3. Formation and Initial Articles of Organization of Limited Cooperative Association
18 Okl.St.Ann. § 441-303
§ 441-303. Organization of limited cooperative association
Currentness
ORGANIZATION OF LIMITED COOPERATIVE ASSOCIATION.
(a) After a limited cooperative association is formed:
(1) If initial directors are named in the articles of organization, the initial directors shall hold an organizational meeting to adopt initial bylaws and carry on any other business necessary or proper to complete the organization of the association; or
(2) If initial directors are not named in the articles of organization, the organizers shall designate the initial directors and call a meeting of the initial directors to adopt initial bylaws and carry on any other business necessary or proper to complete the organization of the association.
(b) Unless the articles of organization otherwise provide, the initial directors may cause the limited cooperative association to accept members, including those necessary for the association to begin business.
(c) Initial directors need not be members.
(d) An initial director serves until a successor is elected and qualified at a members' meeting or the director is removed, resigns, is adjudged incompetent, or dies.

Credits

Laws 2009, c. 68, § 31, eff. Jan. 1, 2010.
18 Okl. St. Ann. § 441-303, OK ST T. 18 § 441-303
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