Okla. Stat. tit. 18, § 18-441-1206: Winding up

WINDING UP.

(a) A limited cooperative association continues after

dissolution only for purposes of winding up its activities.

(b) In winding up a limited cooperative association’s

activities, the board of directors shall cause the association to:

(1) Discharge its liabilities, settle and close its activities,

and marshal and distribute its assets;

(2) Preserve the association or its property as a going concern

for no more than a reasonable time;

(3) Prosecute and defend actions and proceedings;

(4) Transfer association property; and

(5) Perform other necessary acts.

(c) After dissolution and upon application of a limited

cooperative association, a member, or a holder of financial rights,

the district court may order judicial supervision of the winding up

of the association, including the appointment of a person to wind up

the association’s activities, if:

(1) After a reasonable time, the association has not wound up

its activities; or

(2) The applicant establishes other good cause.

(d) If a person is appointed pursuant to subsection (c) of this

section to wind up the activities of a limited cooperative

association, the association shall promptly deliver to the Secretary

of State for filing an amendment to the articles of organization to

reflect the appointment.