reglab/housing_qa huggingface dataset:
18 OK Stat § 18-437.16 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-437.16. Initiative by members.

|Not withstanding any other provision of this act, any proposition embodied in a petition signed by not less than ten percent (10%) of the members of a cooperative, together with any document submitted with such petition to give effect to the proposition, shall be submitted to the members of a cooperative, either at a special meeting of the members held within forty-five (45) days after the presentation of such petition or, if the date of the next annual meeting of members falls within ninety (90) days after such presentation or if the petition so requests, at such annual meeting. The approval of the board of trustees shall not be required in respect of any proposition or document submitted to the members pursuant to this section and approved by them, but such proposition or document shall be subject to all other applicable provisions of this act. Any affidavit or affidavits required to be filed with any such document pursuant to applicable provisions of this act shall, in such case, be modified to show compliance with the provisions of this section. |Laws 1939, p. 266, § 17.
18 OK Stat § 18-437.17 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-437.17. Dissolution.

|A cooperative may dissolve in the manner provided by law for the dissolution of private corporations. |Laws 1939, p. 267, § 18.
18 OK Stat § 18-437.18 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-437.18. Filing of articles - Certificate of incorporation - Filing.

|Articles of incorporation, amendment, consolidation, merger or conversion, as the case may be, when executed and acknowledged and accompanied by such affidavits as may be required by applicable provisions of this act, shall be presented to the Secretary of State for filing in the records of his office. If the Secretary of State shall find that the articles presented conform to the requirements of this act, he shall, upon the payment of the fees as in this act provided, file the articles so presented in the records of his office and shall issue over the Great Seal of the state an appropriate certificate of incorporation, amendment, consolidation, merger or conversion, as the case may be, and thereupon the incorporation, amendment, consolidation, merger or conversion provided for therein shall be in effect. |Laws 1939, p. 267, § 19; Laws 1979, c. 259, § 3.
18 OK Stat § 18-437.19 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-437.19. Refunds to members.

|Revenues of a cooperative for any fiscal year in excess of the amount thereof necessary: |(a) To defray expenses of the cooperative and of the operation and maintenance of its facilities during such fiscal year;(b) To pay interest and principal obligations of the cooperative coming due in such fiscal year;(c) To finance, or to provide a reserve for the financing of, the construction or acquisition by the cooperative of additional facilities to the extent determined by the board of trustees;(d) To provide a reasonable reserve for working capital;(e) To provide a reserve for the payment of indebtedness of the cooperative maturing more than one (1) year after the date of the incurrence of such indebtedness in an amount not less than the total of the interest and principal payments in respect thereof required to be made during the next following fiscal year; and(f) To provide a fund for education in cooperation and for the dissemination of information concerning the effective use of electric energy and other services made available by the cooperative, shall, unless otherwise determined by a vote of the members, be distributed by the cooperative to its members as patronage refunds prorated in accordance with the patronage of the cooperative by the respective members paid for during such fiscal year. Nothing herein contained shall be construed to prohibit the payment by a cooperative of all or any part of its indebtedness prior to the date when the same shall become due.Laws 1939, p. 267, § 20.
18 OK Stat § 18-437.20 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-437.20. Disposition of property.

|A cooperative may not sell, mortgage, lease or otherwise dispose of or encumber all or any substantial portion of its property unless such sale, mortgage, lease, or other disposition or encumbrance is authorized at a duly held meeting of the members thereof by the affirmative vote of not less than two-thirds of all of the members of the cooperative, and unless the notice of such proposed sale, mortgage, lease, or other disposition or encumbrance shall have been contained in the notice of the meeting; provided, however, that notwithstanding anything herein contained, or any other provisions of law, the board of trustees of a cooperative, without authorization by the members thereof, shall have full power and authority upon an affirmative vote of not less than two-thirds (2/3) of the board of trustees to authorize the execution and delivery of a lease and leaseback transaction only where the board of trustees determines that such transaction will not impair the ability of the cooperative to use the assets as needed to serve the members; provided, however, that such transactions shall apply only to the physical assets of a cooperative and shall not be used to effect a sale or other disposition of the cooperative business entity itself; and further, shall have full power and authority to authorize the execution and delivery of a mortgage or mortgages or a deed or deeds of trust upon, or the pledging or encumbering of, any or all of the property, assets, rights, privileges, licenses, franchises and permits of the cooperative, whether acquired or to be acquired, and wherever situated, as well as the revenues and income therefrom, all upon such terms and conditions as the board of trustees shall determine, to secure any indebtedness of the cooperative to the United States of America or any instrumentality or agency thereof or to any corporation or financial institution authorized to assist in the credit and financial needs of rural electric cooperatives. |Added by Laws 1939, p. 268, § 21, emerg. eff. April 14, 1939. Amended by Laws 1969, c. 53, § 1; Laws 2002, c. 25, § 1, emerg. eff. April 5, 2002.
18 OK Stat § 18-437.21 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-437.21. Nonliability of members, trustees and officers for debts of cooperative.

|No member, trustee or officer of the cooperative shall be liable or responsible individually for any debts of the cooperative. |Laws 1939, p. 268, § 22.
18 OK Stat § 18-437.22 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-437.22. Waiver of notice.

|Whenever any notice is required to be given under the provisions of this act or under the provisions of the articles of incorporation or bylaws of a cooperative, waiver thereof in writing, signed by the person or persons entitled to such notice, whether before or after the time fixed for the giving of such notice, shall be deemed equivalent to such notice. If a person or persons entitled to notice of a meeting shall attend such meeting, such attendance shall constitute a waiver of notice of the meeting, except in case the attendance is for the express purpose of objecting to the transaction of any business because the meeting shall not have been lawfully called or convened. |Laws 1939, p. 269, § 23.
18 OK Stat § 18-437.23 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-437.23. Foreign corporation.

|Any corporation organized on a nonprofit or a cooperative basis for the purpose of supplying electric energy in rural areas and owning and operating electric transmission or distribution lines in a state adjacent to this state may file in the office of the Secretary of State a certified copy of its charter or articles of incorporation which shall be recorded in a book to be kept by the Secretary of State for that purpose, and thereupon, upon payment of the fees required of a cooperative for the filing of articles of incorporation, and the appointment of a service agent as provided by law, such foreign corporation shall be authorized to transact business in this state and shall have all the rights, powers and privileges conferred upon a cooperative under this act. |Laws 1939, p. 269, § 24.
18 OK Stat § 18-437.24 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-437.24. Fees.

|The Secretary of State shall have charge and collect for: |(a) Filing articles of incorporation, Twenty-five Dollars ($25.00);(b) Filing articles of amendment, Ten Dollars ($10.00);(c) Filing articles of consolidation or merger, Twenty-five Dollars ($25.00);(d) Filing articles of conversion, Twenty-five Dollars ($25.00);(e) Filing certificate of change of principal office, Ten Dollars ($10.00);(f) Issuing certificate of incorporation, amendment, consolidation, merger or conversion, or any certified copy thereof, Five Dollars ($5.00).Amended by Laws 1984, c. 229, § 8, operative July 1, 1984.
18 OK Stat § 18-437.25 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-437.25. Exemption from excise and income taxes - License fee.

|Each cooperative and each foreign corporation transacting business in this state pursuant to this act shall pay annually, on or before the thirty-first day of August, to the Oklahoma Tax Commission, a fee of One Dollar ($1.00) for each one hundred persons or fraction thereof to whom electricity is supplied within the state by it, as of June thirtieth preceding, but shall be exempt from all other excise and income taxes whatsoever. |Laws 1939, p. 270, § 26.
18 OK Stat § 18-437.27 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-437.27. Securities Act exemption.

|The provisions of the Securities Act, Article 23 of Chapter 24, Oklahoma Statutes 1931, as amended, shall not apply to any note, bond or other evidence of indebtedness issued by any cooperative or foreign corporation transacting business in this state pursuant to this act, to the United States of America or any agency or instrumentality thereof, or to any mortgage or deed of trust executed to secure the same. The provisions of said Securities Act shall not apply to the issuance of membership certificates by any cooperative or any such foreign corporation. |Laws 1939, p. 270, § 28.
18 OK Stat § 18-437.28 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-437.28. Definitions.

|In this act, unless the context otherwise requires; |(a) "Rural area" means any area not included within the boundaries of any incorporated or unincorporated city, town or village, having a population in excess of one thousand five hundred (1,500) persons, and any area included within the boundaries of any such city, town or village as a result of incorporation, annexation, population growth, or otherwise, in which area a cooperative commenced or commences the construction or operation of electric facilities or the furnishing of electric energy prior to such incorporation, annexation or population growth.(b) "Person" includes any natural person, firm, association, corporation, business trust, partnership, federal agency, state or political subdivision or agency thereof, or any body politic; and(c) "Member" means each incorporator of a cooperative and each person admitted to and retaining membership therein, and shall include a husband and wife admitted to joint membership.Laws 1939, p. 270, § 29; Laws 1961, p. 201, § 2.
18 OK Stat § 18-437.29 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-437.29. Construction of act.

|This act shall be construed liberally. The enumeration of any object, purpose, power, manner, method, or thing shall not be deemed to exclude like or similar object, purposes, powers, manner, methods or things. |Laws 1939, p. 270, § 30.
18 OK Stat § 18-438.1 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-438.1. Short title of act.

|This act may be cited as the "Telephone Cooperative Corporations Act". |Laws 1953, p. 484, § 1; Laws 1991, c. 135, § 1, eff. Sept. 1, 1991.
18 OK Stat § 18-438.2 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-438.2. Organization authorized - Purpose.

|Cooperative, nonprofit corporations may be organized under this act for the purpose of furnishing communication services to the widest practicable number of users of such service. |Laws 1953, p. 484, § 2; Laws 1991, c. 135, § 2, eff. Sept. 1, 1991.
18 OK Stat § 18-438.3 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-438.3. Definitions.

|As used in this act: |1. "Cooperative" means any corporation organized pursuant to or which becomes subject to the provisions of the Telephone Cooperative Corporations Act;2. "Person" means any natural person, firm, association, corporation, business trust, or partnership;3. "Telephone company" means any natural person, firm, association, corporation, or partnership, other than a cooperative or mutual telephone company, owning, leasing, or operating any line, facility, or system used in furnishing telephone service within this state;4. "Communication services" means the transmitting, receiving, or both, of information, signals or messages by wire, radio, cellular radio, microwave, fiber optics or any other means, and includes, but is not limited to, the providing of lines, facilities and systems used in providing the services;5. "Member" means the incorporators of a cooperative and each person thereafter lawfully admitted to membership therein pursuant to the provisions contained in the bylaws; and6. "Patron" means a member of the cooperative who is eligible to receive patronage dividends or to earn capital credits as a result of the purchase of certain services from the cooperative, as provided by subsection D of Section 438.9 of this title.Amended by Laws 1983, c. 3, § 1, emerg. eff. Feb. 21, 1983; Laws 1991, c. 135, § 3, eff. Sept. 1, 1991.
18 OK Stat § 18-438.5 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-438.5. Name.

|The name of a cooperative shall include the words "telephone" and "cooperative", and the abbreviation "Inc.", unless, in an affidavit made by its president or vice president, and filed with the Secretary of State, or in an affidavit made by a person signing articles of incorporation, consolidation, merger or conversion, which relate to such cooperative, and filed, together with any such articles, with the Secretary of State, it shall appear that the cooperative desires to do business in another state and is or would be precluded therefrom by reason of the inclusion of such words or either thereof in its name. The name of a cooperative shall be distinct from the name of any other cooperative or corporation organized under the laws of, or authorized to do business in, this state. This section shall not apply to any corporation which becomes subject to this act by complying with the provisions of Section 20 of this act, or which does business in this state pursuant to Section 29 of this act and which elects to retain a corporate name which does not comply with this section. |Laws 1953, p. 485, § 5.
18 OK Stat § 18-438.6 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-438.6. Incorporators.

|Five or more natural persons who are residents of the areas in which the principal operations of the cooperative are to be conducted may organize a cooperative in the manner hereinafter provided. |Laws 1953, p. 486, § 6.
18 OK Stat § 18-438.7 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-438.7. Articles of incorporation.

|Articles of incorporation of a cooperative shall recite that they are executed pursuant to this act and shall state: (1) the name of the cooperative; (2) the address of its principal office; (3) the names and addresses of the incorporators; (4) the names and addresses of its trustees; (5) the purpose for which the cooperative is formed; and (6) the period of its existence and may contain any provisions not inconsistent with this act deemed necessary or advisable for the conduct of its business, including provisions for the issuance of nonvoting shares of stock as hereinafter provided. Such articles shall be signed by each incorporator and acknowledged by at least two of the incorporators, or on their behalf, if they are cooperatives. If a cooperative desires to issue nonvoting shares of stock, its articles of incorporation shall state: (1) the total number of such shares of stock which may be issued and the par value of each share; (2) the fixed or maximum rate of dividends on the par value of such shares of stock, in either case not exceeding four percent (4%) per annum, and whether dividends shall be cumulative or noncumulative; (3) whether such shares of stock may be issued to members only or to members and nonmembers; (4) the maximum number of such shares of stock which may be owned by any person; and (5) the terms and conditions on which such shares of stock may be transferred, redeemed and retired. |Laws 1953, p. 486, § 7.
18 OK Stat § 18-438.8 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-438.8. Bylaws.

|The board of trustees shall adopt the first bylaws of a cooperative to be adopted following an incorporation, conversion, combined consolidation and conversion, merger or consolidation. Thereafter the members shall adopt, amend or repeal the bylaws by the affirmative vote of a majority of those members voting thereon at a meeting of the members. The bylaws shall set forth the rights and duties of members, trustees and shareholders, if any, and may contain other provisions for the regulation and management of the affairs of the cooperative not inconsistent with this act or with its articles of incorporation. |Laws 1953, p. 486, § 8.
18 OK Stat § 18-438.9 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-438.9. Membership - Shares of stock - Qualification as patron.

|A. Each incorporator of a cooperative shall be a member thereof but no other person may become a member thereof unless such other person agrees to use communication services furnished by the cooperative when it is made available through its facilities, except as otherwise provided in the bylaws. Membership in a cooperative may be evidenced by a certificate of membership which shall not be transferable, except as provided by the bylaws. The bylaws may prescribe additional qualifications and limitations in respect of membership, provided that ownership of shares of stock, if any are authorized, shall not be a condition of membership in the cooperative. |B. In case the issuance of shares of stock is provided for in the articles of incorporation, ownership thereof shall be evidenced by share certificates. No share of stock shall be issued except for cash, or for property at its fair value, in an amount equal to the par value of such share of stock.C. Membership and share certificates shall contain such provisions, consistent with this act and the articles of incorporation of the cooperative, as shall be prescribed by its bylaws.D. Each member who purchases communication services in the ordinary course of business of the cooperative is a patron of the cooperative, except the use of inter-exchange access, payment of inter-exchange access fares or settlements, or the purchase of equipment does not qualify a member or other person as a patron. The bylaws of the cooperative may provide other circumstances where a member or other person will not qualify to be a patron.Laws 1953, p. 486, § 9; Laws 1991, c. 135, § 5, eff. Sept. 1, 1991.
18 OK Stat § 18-438.10 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-438.10. Meetings of members.

|A. An annual meeting of the members of a cooperative shall be held at such time and place as shall be provided in the bylaws. |B. Special meetings of the members may be called by the president, by the board of trustees, by any three trustees, or by not less than two hundred members or ten percent (10%) of all members, whichever shall be the lesser.C. Except as otherwise provided in this act, written or printed notice stating the time and place of each meeting of the members and in the case of a special meeting, the purpose or purposes for which the meeting is called, shall be given to each member, either personally or by mail, not less than ten (10) days nor more than twenty-five (25) days before the date of the meeting. If mailed, such notice shall be deemed to be given when deposited in the United States mail with postage prepaid, addressed to the member at his address as it appears on the records of the cooperative.D. Unless the bylaws prescribe the presence of a greater percentage or number of the members for a quorum, a quorum for the transaction of business at all meetings of the members of a cooperative having not more than five hundred members, shall be ten percent (10%) of all members, present in person, and of a cooperative having more than five hundred members, shall be fifty members or two percent (2%) of all members, whichever is greater, present in person. If less than a quorum is present at any meeting, a majority of those present in person may adjourn the meeting from time to time without further notice.E. Each member shall be entitled to one vote on each matter submitted to a vote at a meeting of the members. Voting shall be in person, but, if the bylaws so provide, may also be by mail.Laws 1953, p. 486, § 10; Laws 1991, c. 135, § 6, eff. Sept. 1, 1991.
18 OK Stat § 18-438.11 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-438.11. Waiver of notice of meeting.

|Any person entitled to notice of a meeting may waive such notice in writing either before or after such meeting. If any such person shall attend such meeting, such attendance shall constitute a waiver of notice of such meeting, unless such person participates therein solely to object to the transaction of any business because the meeting has not been legally called or convened. |Laws 1953, p. 487, § 11.