Oklahoma § 18-441-1301 Derivative action.

Oklahoma Statutes

§ 18-441-1301 — Derivative action.

Oklahoma § 18-441-1301

Title 18Corporations

This text of Oklahoma § 18-441-1301 (Derivative action.) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 18, § 18-441-1301 (2026).

Text

DERIVATIVE ACTION. A member may maintain a derivative action to enforce a right of a limited cooperative association if:

(1)The member demands that the association bring an action to enforce the right; and (2) Any of the following occur:

(A)the association does not, within ninety (90) days after the member makes the demand, agree to bring the action;

(B)the association notifies the member that it has rejected the demand;

(C)irreparable harm to the association would result by waiting ninety (90) days after the member makes the demand; or (D) the association agrees to bring an action demanded and fails to bring the action within a reasonable time.

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DERIVATIVE ACTION. A member may maintain a derivative action to enforce a right of a limited cooperative association if: (1) The member demands that the association bring an action to enforce the right; and (2) Any of the following occur: (A) the association does not, within ninety (90) days after the member makes the demand, agree to bring the action; (B) the association notifies the member that it has rejected the demand; (C) irreparable harm to the association would result by waiting ninety (90) days after the member makes the demand; or (D) the association agrees to bring an action demanded and fails to bring the action within a reasonable time.