Okla. Stat. tit. 18, § 18-441-1607: Notice and action on plan of merger by constituent

limited cooperative association.

NOTICE AND ACTION ON PLAN OF MERGER BY CONSTITUENT LIMITED

COOPERATIVE ASSOCIATION.

(a) For a limited cooperative association to merge with another

entity, a plan of merger must be approved by a majority vote of the

board of directors or a greater percentage if required by the

association’s organic rules.

(b) The board of directors shall call a members meeting to

consider a plan of merger approved by the board, hold the meeting

not later than ninety (90) days after approval of the plan by the

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

member:

(1) The plan of merger, or a summary of the plan and a

statement of the manner in which a copy of the plan in a record may

be reasonably obtained by a member;

(2) A recommendation that the members approve the plan of

merger, 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;

(3) A statement of any condition of the board’s submission of

the plan of merger to the members; and

(4) Notice of the meeting at which the plan of merger will be

considered, which must be given in the same manner as notice of a

special meeting of members.