§ 441-405. Approval of amendment
Oklahoma Statutes AnnotatedTitle 18. Corporations
18 Okl.St.Ann. § 441-405
§ 441-405. Approval of amendment
APPROVAL OF AMENDMENT.
(a) Subject to Section 36 of this act1 and subsections (c) and (d) of this section, an amendment to the articles of organization must be approved by:
(1) At least two-thirds (2/3) of the voting power of members present at a members meeting called under Section 34 of this act;2 and
(d) Consent in a record by a member must be delivered to a limited cooperative association before delivery of an amendment to the articles of organization or restated articles of organization for filing pursuant to Section 39 of this act,3 if as a result of the amendment the member will have:
(1) The equity capital structure of the limited cooperative association, including the rights of the association's members to share in profits or distributions, or the relative rights, preferences, and restrictions granted to or imposed upon one or more districts, classes, or voting groups of similarly situated members;
(g) If the articles of organization delegate amendment of bylaws to the board of directors, the board shall provide a description of any amendment of the bylaws made by the board to the members in a record not later than thirty (30) days after the amendment, but the description may be provided at the next annual members meeting if the meeting is held within the thirty-day period.
Credits
Laws 2009, c. 68, § 37, eff. Jan. 1, 2010.
18 Okl. St. Ann. § 441-405, OK ST T. 18 § 441-405
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.
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