reglab/housing_qa huggingface dataset:
18 OK Stat § 18-441-504 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-441-504. No liability as member for association’s obligations.

|NO LIABILITY AS MEMBER FOR ASSOCIATION’S OBLIGATIONS. Unless the articles of organization otherwise provide, a debt, obligation, or other liability of a limited cooperative association is solely that of the association and is not the debt, obligation, or liability of a member solely by reason of being a member. |Added by Laws 2009, c. 68, § 43, eff. Jan. 1, 2010.
18 OK Stat § 18-441-506 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-441-506. Annual meeting of members.

|ANNUAL MEETING OF MEMBERS. |(a) Members shall meet annually at a time provided in the organic rules or set by the board of directors not inconsistent with the organic rules.(b) An annual members meeting may be held inside or outside this state at the place stated in the organic rules or selected by the board of directors not inconsistent with the organic rules.(c) Unless the organic rules otherwise provide, members may attend or conduct an annual members meeting through any means of communication if all members attending the meeting can communicate with each other during the meeting.(d) The board of directors shall report, or cause to be reported, at the association’s annual members meeting the association’s business and financial condition as of the close of the most recent fiscal year.(e) Unless the organic rules otherwise provide, the board of directors shall designate the presiding officer of the association’s annual members meeting.(f) Failure to hold an annual members meeting does not affect the validity of any action by the limited cooperative association.Added by Laws 2009, c. 68, § 45, eff. Jan. 1, 2010.
18 OK Stat § 18-441-507 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-441-507. Special meeting of members.

|SPECIAL MEETING OF MEMBERS. |(a) A special meeting of members may be called only:(1) As provided in the organic rules;(2) By a majority vote of the board of directors on a proposal stating the purpose of the meeting;(3) By demand in a record signed by members holding at least twenty percent (20%) of the voting power of the persons in any district or class entitled to vote on the matter that is the purpose of the meeting stated in the demand; or(4) By demand in a record signed by members holding at least ten percent (10%) of the total voting power of all the persons entitled to vote on the matter that is the purpose of the meeting stated in the demand.(b) A demand under paragraph (3) or (4) of subsection (a) of this section must be submitted to the officer of the limited cooperative association charged with keeping its records.(c) Any voting member may withdraw its demand under paragraph (3) or (4) of subsection (a) of this section before receipt by the limited cooperative association of demands sufficient to require a special meeting of members.(d) A special meeting of members may be held inside or outside this state at the place stated in the organic rules or selected by the board of directors not inconsistent with the organic rules.(e) Unless the organic rules otherwise provide, members may attend or conduct a special meeting of members through the use of any means of communication if all members attending the meeting can communicate with each other during the meeting.(f) Only business within the purpose or purposes stated in the notice of a special meeting of members may be conducted at the meeting.(g) Unless the organic rules otherwise provide, the presiding officer of a special meeting of members shall be designated by the board of directors.Added by Laws 2009, c. 68, § 46, eff. Jan. 1, 2010.
18 OK Stat § 18-441-508 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-441-508. Notice of members meeting.

|NOTICE OF MEMBERS MEETING. |(a) A limited cooperative association shall notify each member of the time, date, and place of a members meeting at least fifteen (15) and not more than sixty (60) days before the meeting.(b) Unless the articles of organization otherwise provide, notice of an annual members meeting need not include any purpose of the meeting.(c) Notice of a special meeting of members must include each purpose of the meeting as contained in the demand under paragraph (3) or (4) of subsection (a) of Section 46 of this act or as voted upon by the board of directors under paragraph (2) of subsection (a) of Section 46 of this act.(d) Notice of a members meeting must be given in a record unless oral notice is reasonable under the circumstances.Added by Laws 2009, c. 68, § 47, eff. Jan. 1, 2010.
18 OK Stat § 18-441-509 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-441-509. Waiver of members meeting notice.

|WAIVER OF MEMBERS MEETING NOTICE. |(a) A member may waive notice of a members meeting before, during, or after the meeting.(b) A member’s participation in a members meeting is a waiver of notice of that meeting unless the member objects to the meeting at the beginning of the meeting or promptly upon the member’s arrival at the meeting and does not thereafter vote for or assent to action taken at the meeting.Added by Laws 2009, c. 68, § 48, eff. Jan. 1, 2010.
18 OK Stat § 18-441-510 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-441-510. Quorum of members.

|QUORUM OF MEMBERS. Unless the organic rules otherwise require a greater number of members or percentage of the voting power, the voting member or members present at a members meeting constitute a quorum. |Added by Laws 2009, c. 68, § 49, eff. Jan. 1, 2010.
18 OK Stat § 18-441-511 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-441-511. Voting by patron members.

|VOTING BY PATRON MEMBERS. Except as provided by subsection (a) of Section 51 of this act, each patron member has one vote. The organic rules may allocate voting power among patron members as provided in subsection (a) of Section 51 of this act. |Added by Laws 2009, c. 68, § 50, eff. Jan. 1, 2010.
18 OK Stat § 18-441-512 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-441-512. Determination of voting power of patron member.

|DETERMINATION OF VOTING POWER OF PATRON MEMBER. |(a) The organic rules may allocate voting power among patron members on the basis of one or a combination of the following:(1) One member, one vote;(2) Use or patronage;(3) Equity; or(4) If a patron member is a cooperative, the number of its patron members.(b) The organic rules may provide for the allocation of patron member voting power by districts or class, or any combination thereof.Added by Laws 2009, c. 68, § 51, eff. Jan. 1, 2010.
18 OK Stat § 18-441-513 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-441-513. Voting by investor members.

|VOTING BY INVESTOR MEMBERS. If the organic rules provide for investor members, each investor member has one vote, unless the organic rules otherwise provide. The organic rules may provide for the allocation of investor member voting power by class, classes, or any combination of classes. |Added by Laws 2009, c. 68, § 52, eff. Jan. 1, 2010.
18 OK Stat § 18-441-514 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-441-514. Voting requirements for members.

|VOTING REQUIREMENTS FOR MEMBERS. If a limited cooperative association has both patron and investor members, the following rules apply: |(1) The total voting power of all patron members may not be less than a majority of the entire voting power entitled to vote.(2) Action on any matter is approved only upon the affirmative vote of at least a majority of:(A)all members voting at the meeting unless more than a majority is required by Articles 4, 12, 15 through 16 of the Uniform Limited Cooperative Association Act of 2009 or the organic rules; and(B)votes cast by patron members unless the organic rules require a larger affirmative vote by patron members.(3) The organic rules may provide for the percentage of the affirmative votes that must be cast by investor members to approve the matter.Added by Laws 2009, c. 68, § 53, eff. Jan. 1, 2010.
18 OK Stat § 18-441-515 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-441-515. Manner of voting.

|MANNER OF VOTING. |(a) Unless the organic rules otherwise provide, voting by a proxy at a members meeting is prohibited. This subsection does not prohibit delegate voting based on district or class.(b) If voting by a proxy is permitted, a patron member may appoint only another patron member as a proxy and, if investor members are permitted, an investor member may appoint only another investor member as a proxy.(c) The organic rules may provide for the manner of and provisions governing the appointment of a proxy.(d) The organic rules may provide for voting on any question by ballot delivered by mail or voting by other means on questions that are subject to vote by members.Added by Laws 2009, c. 68, § 54, eff. Jan. 1, 2010.
18 OK Stat § 18-441-516 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-441-516. Action without a meeting.

|ACTION WITHOUT A MEETING. |(a) Unless the organic rules require that action be taken only at a members meeting, any action that may be taken by the members may be taken without a meeting if each member entitled to vote on the action consents in a record to the action.(b) Consent under subsection (a) of this section may be withdrawn by a member in a record at any time before the limited cooperative association receives a consent from each member entitled to vote.(c) Consent to any action may specify the effective date or time of the action.Added by Laws 2009, c. 68, § 55, eff. Jan. 1, 2010.
18 OK Stat § 18-441-517 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-441-517. Districts and delegates - Classes of members.

|DISTRICTS AND DELEGATES; CLASSES OF MEMBERS. |(a) The organic rules may provide for the formation of geographic districts of patron members and:(1) For the conduct of patron member meetings by districts and the election of directors at the meetings; or(2) That districts may elect district delegates to represent and vote for the district at members meetings.(b) A delegate elected under paragraph (2) of subsection (a) of this section has one vote unless voting power is otherwise allocated by the organic rules.(c) The organic rules may provide for the establishment of classes of members, for the preferences, rights, and limitations of the classes, and:(1) For the conduct of members meetings by classes and the election of directors at the meetings; or(2) That classes may elect class delegates to represent and vote for the class in members meetings.(d) A delegate elected under paragraph (2) of subsection (c) of this section has one vote unless voting power is otherwise allocated by the organic rules.Added by Laws 2009, c. 68, § 56, eff. Jan. 1, 2010.
18 OK Stat § 18-441-601 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-441-601. Member’s interest.

|MEMBER’S INTEREST. A member’s interest: |(1) Is personal property;(2) Consists of:(A)governance rights;(B)financial rights; and(C)the right or obligation, if any, to do business with the limited cooperative association; and(3) May be in certificated or uncertificated form.Added by Laws 2009, c. 68, § 57, eff. Jan. 1, 2010.
18 OK Stat § 18-441-602 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-441-602. Patron and investor members’ interests.

|PATRON AND INVESTOR MEMBERS’ INTERESTS. |(a) Unless the organic rules establish investor members’ interests, a member’s interest is a patron member’s interest.(b) Unless the organic rules otherwise provide, if a limited cooperative association has investor members, while a person is a member of the association, the person:(1) If admitted as a patron member, remains a patron member;(2) If admitted as an investor member, remains an investor member; and(3) If admitted as a patron member and investor member remains a patron and investor member if not dissociated in one of the capacities.Added by Laws 2009, c. 68, § 58, eff. Jan. 1, 2010.
18 OK Stat § 18-441-603 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-441-603. Transferability of member’s interest.

|TRANSFERABILITY OF MEMBER’S INTEREST. |(a) The provisions of the Uniform Limited Cooperative Act of 2009 relating to the transferability of a member’s interest are subject to the Uniform Commercial Code.(b) Unless the organic rules otherwise provide, a member’s interest other than financial rights is not transferable.(c) Unless a transfer is restricted or prohibited by the organic rules, a member may transfer its financial rights in the limited cooperative association.(d) The terms of any restriction on transferability of financial rights must be:(1) Set forth in the organic rules and the member records of the association; and(2) Conspicuously noted on any certificates evidencing a member’s interest.(e) A transferee of a member’s financial rights, to the extent the rights are transferred, has the right to share in the allocation of profits or losses and to receive the distributions to the member transferring the interest to the same extent as the transferring member.(f) A transferee of a member’s financial rights does not become a member upon transfer of the rights unless the transferee is admitted as a member by the limited cooperative association.(g) A limited cooperative association need not give effect to a transfer under this section until the association has notice of the transfer.(h) A transfer of a member’s financial rights in violation of a restriction on transfer contained in the organic rules is ineffective as to a person having notice of the restriction at the time of transfer.Added by Laws 2009, c. 68, § 59, eff. Jan. 1, 2010.
18 OK Stat § 18-441-604 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-441-604. Security interest and set-off.

|SECURITY INTEREST AND SET-OFF. |(a) A member or transferee may create an enforceable security interest in its financial rights in a limited cooperative association.(b) Unless the organic rules otherwise provide, a member may not create an enforceable security interest in the member’s governance rights in a limited cooperative association.(c) The organic rules may provide that a limited cooperative association has a security interest in the financial rights of a member to secure payment of any indebtedness or other obligation of the member to the association. A security interest provided for in the organic rules is enforceable under, and governed by, Article 9 of the Uniform Commercial Code.(d) Unless the organic rules otherwise provide, a member may not compel the limited cooperative association to offset financial rights against any indebtedness or obligation owed to the association.Added by Laws 2009, c. 68, § 60, eff. Jan. 1, 2010.
18 OK Stat § 18-441-605 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-441-605. Charging orders for judgment creditor of member or transferee.

|CHARGING ORDERS FOR JUDGMENT CREDITOR OF MEMBER OR TRANSFEREE. |(a) On application by a judgment creditor of a member or transferee, a court may enter a charging order against the financial rights of the judgment debtor for the unsatisfied amount of the judgment. A charging order issued under this subsection constitutes a lien on the judgment debtor’s financial rights and requires the limited cooperative association to pay over to the creditor or receiver, to the extent necessary to satisfy the judgment, any distribution that would otherwise be paid to the judgment debtor.(b) To the extent necessary to effectuate the collection of distributions pursuant to a charging order under subsection (a) of this section, the court may:(1) Appoint a receiver of the share of the distributions due or to become due to the judgment debtor under the judgment debtor’s financial rights, with the power to make all inquiries the judgment debtor might have made; and(2) Make all other orders that the circumstances of the case may require to give effect to the charging order.(c) Upon a showing that distributions under a charging order will not pay the judgment debt within a reasonable time, the court may foreclose the lien and order the sale of the financial rights. The purchaser at the foreclosure sale obtains only the financial rights that are subject to the charging order, does not thereby become a member, and is subject to Section 59 of this act.(d) At any time before a sale pursuant to a foreclosure, a member or transferee whose financial rights are subject to a charging order under subsection (a) of this section may extinguish the charging order by satisfying the judgment and filing a certified copy of the satisfaction with the court that issued the charging order.(e) At any time before sale pursuant to a foreclosure, the limited cooperative association or one or more members whose financial rights are not subject to the charging order may pay to the judgment creditor the full amount due under the judgment and succeed to the rights of the judgment creditor, including the charging order. Unless the organic rules otherwise provide, the association may act under this subsection only with the consent of all members whose financial rights are not subject to the charging order.(f) The Uniform Limited Cooperative Association Act of 2009 does not deprive any member or transferee of the benefit of any exemption laws applicable to the member’s or transferee’s financial rights.(g) This section provides the exclusive remedy by which a judgment creditor of a member or transferee may satisfy the judgment from the member’s or transferee’s financial rights.Added by Laws 2009, c. 68, § 61, eff. Jan. 1, 2010.
18 OK Stat § 18-441-701 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-441-701. Authority.

|AUTHORITY. In this article, “marketing contract” means a contract between a limited cooperative association and another person, that need not be a patron member: |(1) Requiring the other person to sell, or deliver for sale or marketing on the person’s behalf, a specified part of the person’s products, commodities, or goods exclusively to or through the association or any facilities furnished by the association; or(2) Authorizing the association to act for the person in any manner with respect to the products, commodities, or goods.Added by Laws 2009, c. 68, § 62, eff. Jan. 1, 2010.
18 OK Stat § 18-441-702 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-441-702. Marketing contracts.

|MARKETING CONTRACTS. |(a) If a marketing contract provides for the sale of products, commodities, or goods to a limited cooperative association, the sale transfers title to the association upon delivery or at any other specific time expressly provided by the contract.(b) A marketing contract may:(1) Authorize a limited cooperative association to create an enforceable security interest in the products, commodities, or goods delivered; and(2) Allow the association to sell the products, commodities, or goods delivered and pay the sales price on a pooled or other basis after deducting selling costs, processing costs, overhead, expenses, and other charges.(c) Some or all of the provisions of a marketing contract between a patron member and a limited cooperative association may be contained in the organic rules.Added by Laws 2009, c. 68, § 63, eff. Jan. 1, 2010.
18 OK Stat § 18-441-703 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-441-703. Duration of marketing contract.

|DURATION OF MARKETING CONTRACT. The initial duration of a marketing contract may not exceed ten (10) years, but the contract may be self-renewing for additional periods not exceeding five (5) years each. Unless the contract provides for another manner or time for termination, either party may terminate the contract by giving notice in a record at least ninety (90) days before the end of the current term. |Added by Laws 2009, c. 68, § 64, eff. Jan. 1, 2010.
18 OK Stat § 18-441-704 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-441-704. Remedies for breach of contract.

|REMEDIES FOR BREACH OF CONTRACT. |(a) Damages to be paid to a limited cooperative association for breach or anticipatory repudiation of a marketing contract may be liquidated, but only at an amount or under a formula that is reasonable in light of the actual or anticipated harm caused by the breach or repudiation. A provision that so provides is not a penalty.(b) Upon a breach of a marketing contract, whether by anticipatory repudiation or otherwise, a limited cooperative association may seek:(1) An injunction to prevent further breach; and(2) Specific performance.(c) The remedies in this section are in addition to any other remedies available to an association under law other than the Uniform Limited Cooperative Association Act of 2009.Added by Laws 2009, c. 68, § 65, eff. Jan. 1, 2010.
18 OK Stat § 18-441-801 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-441-801. Board of directors.

|BOARD OF DIRECTORS. |(a) A limited cooperative association must have a board of directors of at least three individuals, unless the association has fewer than three members. If the association has fewer than three members, the number of directors may not be fewer than the number of members.(b) The affairs of a limited cooperative association must be managed by, or under the direction of, the board of directors. The board may adopt policies and procedures that do not conflict with the organic rules or the Uniform Limited Cooperative Association Act of 2009.(c) An individual is not an agent for a limited cooperative association solely by being a director.Added by Laws 2009, c. 68, § 66, eff. Jan. 1, 2010.
18 OK Stat § 18-441-802 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-441-802. No liability as director for limited cooperative association’s obligations.

|NO LIABILITY AS DIRECTOR FOR LIMITED COOPERATIVE ASSOCIATION’S OBLIGATIONS. A debt, obligation, or other liability of a limited cooperative association is solely that of the association and is not a debt, obligation, or liability of a director solely by reason of being a director. An individual is not personally liable, directly or indirectly, for an obligation of an association solely by reason of being a director. |Added by Laws 2009, c. 68, § 67, eff. Jan. 1, 2010.
18 OK Stat § 18-441-803 (2021)
2021 Oklahoma Statutes|Title 18. Corporations|§18-441-803. Qualifications of directors.

|QUALIFICATIONS OF DIRECTORS. |(a) Unless the organic rules otherwise provide, and subject to subsection (c) of this section, each director of a limited cooperative association must be an individual who is a member of the association or an individual who is designated by a member that is not an individual for purposes of qualifying and serving as a director. Initial directors need not be members.(b) Unless the organic rules otherwise provide, a director may be an officer or employee of the limited cooperative association.(c) If the organic rules provide for nonmember directors, the number of nonmember directors may not exceed:(1) One, if there are two through four directors;(2) Two, if there are five through eight directors; or(3) One-third (1/3) of the total number of directors if there are at least nine directors.(d) The organic rules may provide qualifications for directors in addition to those in this section.Added by Laws 2009, c. 68, § 68, eff. Jan. 1, 2010.