Oklahoma § 18-441-1202 Nonjudicial dissolution.

Oklahoma Statutes

§ 18-441-1202 — Nonjudicial dissolution.

Oklahoma·Title 18 Corporations

NONJUDICIAL DISSOLUTION. Except as otherwise provided in Sections 104 and 112 of this act, a limited cooperative association is dissolved and its activities must be wound up:

(1)Upon the occurrence of an event or at a time specified in the articles of organization;

(2)Upon the action of the association’s organizers, board of directors, or members under Section 105 or 106 of this act; or (3) Ninety (90) days after the dissociation of a member, which results in the association having one patron member and no other members, unless the association:

(A)has a sole member that is a cooperative; or (B) not later than the end of the ninety-day period, admits at least one member in accordance with the organic rules and has at least two members, at least one of which is a patron member.

Free access — add to your briefcase to read the full text and ask questions with AI

NONJUDICIAL DISSOLUTION. Except as otherwise provided in Sections 104 and 112 of this act, a limited cooperative association is dissolved and its activities must be wound up: (1) Upon the occurrence of an event or at a time specified in the articles of organization; (2) Upon the action of the association’s organizers, board of directors, or members under Section 105 or 106 of this act; or (3) Ninety (90) days after the dissociation of a member, which results in the association having one patron member and no other members, unless the association: (A) has a sole member that is a cooperative; or (B) not later than the end of the ninety-day period, admits at least one member in accordance with the organic rules and has at least two members, at least one of which is a patron member.

Oklahoma § 18-441-1202 (Nonjudicial dissolution.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.