Oklahoma § 18-441-1302 Proper plaintiff.

Oklahoma Statutes

§ 18-441-1302 — Proper plaintiff.

Oklahoma·Title 18 Corporations

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.

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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.

Oklahoma § 18-441-1302 (Proper plaintiff.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.