Oklahoma § 18-441-604 Security interest and set-off.

Oklahoma Statutes

§ 18-441-604 — Security interest and set-off.

Oklahoma § 18-441-604

Title 18Corporations

This text of Oklahoma § 18-441-604 (Security interest and set-off.) 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, § 18-441-604 (2026).

Text

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 ass

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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.