Okla. Stat. tit. 18, § 18-441-1503: Notice and action on disposition of assets

NOTICE AND ACTION ON DISPOSITION OF ASSETS. For a limited

cooperative association to dispose of assets under Section 131 of

this act:

(1) A majority of the board of directors, or a greater

percentage if required by the organic rules, must approve the

proposed disposition; and

(2) The board of directors must call a members meeting to

consider the proposed disposition, hold the meeting not later than

ninety (90) days after approval of the proposed disposition by the

board, and mail or otherwise transmit or deliver in a record to each

member:

(A) the terms of the proposed disposition;

(B) a recommendation that the members approve the

disposition, or if the board determines that because

of conflict of interest or other special circumstances

it should not make a favorable recommendation, the

basis for that determination;

(C) a statement of any condition of the board’s submission

of the proposed disposition to the members; and

(D) notice of the meeting at which the proposed

disposition will be considered, which must be given in

the same manner as notice of a special meeting of

members.