§ 2001. Definitions
Oklahoma Statutes AnnotatedTitle 18. CorporationsEffective: [See Text Amendments] to October 31, 2021
Effective: [See Text Amendments] to October 31, 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;
c. organized under a statute pursuant to which an association may be formed that affords to each of its members limited liability with respect to the liabilities of the entity, and a limited liability company formed under the laws of any state other than this state, or under the laws of the District of Columbia or any foreign country;
15. “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;
16. “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.
11 U.S.C.A. § 101 et seq.
18 Okl. St. Ann. § 2001, OK ST T. 18 § 2001
Current with legislation of the First Regular Session of the 59th Legislature (2023) and the First Extraordinary Session of the 59th Legislature (2023). Some sections may be more current, see credits for details.
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