Oklahoma § 2-15-2 Limitation on indebtedness - Purchase of realty -

Oklahoma Statutes

§ 2-15-2 — Limitation on indebtedness - Purchase of realty -

Oklahoma § 2-15-2

Title 2Agriculture

This text of Oklahoma § 2-15-2 (Limitation on indebtedness - Purchase of realty -) 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. 2, § 2-15-2 (2026).

Text

Mortgages - Directors' liability. Agricultural Fair Corporations shall not contract any debts or liabilities in excess of the amount of money in the treasury at the time of contract except for the purchase of real property, for which they may create a debt not exceeding Three Thousand Dollars ($3,000.00), secured by mortgage on the property of the corporation. The directors of any Agricultural Fair Corporation who vote therefor shall be personally liable for any debt contracted or incurred in violation of this section.

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Mortgages - Directors' liability. Agricultural Fair Corporations shall not contract any debts or liabilities in excess of the amount of money in the treasury at the time of contract except for the purchase of real property, for which they may create a debt not exceeding Three Thousand Dollars ($3,000.00), secured by mortgage on the property of the corporation. The directors of any Agricultural Fair Corporation who vote therefor shall be personally liable for any debt contracted or incurred in violation of this section.

Legislative History

R.L. 1910, § 23. Amended by Laws 2001, c. 146, § 147, emerg. eff. April 30, 2001. Renumbered from § 32 of this title by Laws 2001, c. 146, § 267, emerg. eff. April 30, 2001.