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Oklahoma · Snapshot open-us-law v2026.08, retrieved 2026-09-14

Okla. Stat. tit. 18, § 18-438.9: Membership - Shares of stock - Qualification as patron

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Where this section sits in the code
  1. OK Code
  2. Title 18

A. Each incorporator of a cooperative shall be a member thereof

but no other person may become a member thereof unless such other

person agrees to use communication services furnished by the

cooperative when it is made available through its facilities, except

as otherwise provided in the bylaws. Membership in a cooperative

may be evidenced by a certificate of membership which shall not be

transferable, except as provided by the bylaws. The bylaws may

prescribe additional qualifications and limitations in respect of

membership, provided that ownership of shares of stock, if any are

authorized, shall not be a condition of membership in the

cooperative.

B. In case the issuance of shares of stock is provided for in

the articles of incorporation, ownership thereof shall be evidenced

by share certificates. No share of stock shall be issued except for

cash, or for property at its fair value, in an amount equal to the

par value of such share of stock.

C. Membership and share certificates shall contain such

provisions, consistent with this act and the articles of

incorporation of the cooperative, as shall be prescribed by its

bylaws.

D. Each member who purchases communication services in the

ordinary course of business of the cooperative is a patron of the

cooperative, except the use of inter-exchange access, payment of

inter-exchange access fares or settlements, or the purchase of

equipment does not qualify a member or other person as a patron.

The bylaws of the cooperative may provide other circumstances where

a member or other person will not qualify to be a patron.

Collected 2026-09-14T18:32:36Z. Source file · JSON

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