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§ 441-1302. Proper plaintiff

Oklahoma Statutes AnnotatedTitle 18. Corporations

Oklahoma Statutes Annotated
Title 18. Corporations (Refs & Annos)
Chapter 10A. Uniform Limited Cooperative Association Act (Refs & Annos)
Article 13. Action by Member
18 Okl.St.Ann. § 441-1302
§ 441-1302. Proper plaintiff
Currentness
PROPER PLAINTIFF.
(a) A derivative action to enforce a right of a limited cooperative association may be maintained only by a person that:
(1) Is a member or a dissociated member at the time the action is commenced and:
(A) was a member when the conduct giving rise to the action occurred; or
(B) whose status as a member devolved upon the person by operation of law or the organic rules from a person that was a member at the time of the conduct; and
(2) Adequately represents the interests of the association.
(b) If the sole plaintiff in a derivative action dies while the action is pending, the court may permit another member who meets the requirements of subsection (a) of this section to be substituted as plaintiff.

Credits

Laws 2009, c. 68, § 118, eff. Jan. 1, 2010.
18 Okl. St. Ann. § 441-1302, OK ST T. 18 § 441-1302
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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