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§ 441-808. Suspension of director by board

Oklahoma Statutes AnnotatedTitle 18. Corporations

Oklahoma Statutes Annotated
Title 18. Corporations (Refs & Annos)
Chapter 10A. Uniform Limited Cooperative Association Act (Refs & Annos)
Article 8. Directors and Officers
18 Okl.St.Ann. § 441-808
§ 441-808. Suspension of director by board
Currentness
SUSPENSION OF DIRECTOR BY BOARD.
(a) A board of directors may suspend a director if, considering the director's course of conduct and the inadequacy of other available remedies, immediate suspension is necessary for the best interests of the association and the director is engaging, or has engaged, in:
(1) Fraudulent conduct with respect to the association or its members;
(2) Gross abuse of the position of director;
(3) Intentional or reckless infliction of harm on the association; or
(4) Any other behavior, act, or omission as provided by the organic rules.
(b) A suspension under subsection (a) of this section is effective for thirty (30) days unless the board of directors calls and gives notice of a special meeting of members for removal of the director before the end of the thirty-day period in which case the suspension is effective until adjournment of the meeting or the director is removed.

Credits

Laws 2009, c. 68, § 73, eff. Jan. 1, 2010.
18 Okl. St. Ann. § 441-808, OK ST T. 18 § 441-808
Current with emergency effective legislation through Chapter 277 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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