Okla. Stat. tit. 18, § 18-441-303: Organization of limited cooperative association

ORGANIZATION OF LIMITED COOPERATIVE ASSOCIATION.

(a) After a limited cooperative association is formed:

(1) If initial directors are named in the articles of

organization, the initial directors shall hold an organizational

meeting to adopt initial bylaws and carry on any other business

necessary or proper to complete the organization of the association;

or

(2) If initial directors are not named in the articles of

organization, the organizers shall designate the initial directors

and call a meeting of the initial directors to adopt initial bylaws

and carry on any other business necessary or proper to complete the

organization of the association.

(b) Unless the articles of organization otherwise provide, the

initial directors may cause the limited cooperative association to

accept members, including those necessary for the association to

begin business.

(c) Initial directors need not be members.

(d) An initial director serves until a successor is elected and

qualified at a members’ meeting or the director is removed, resigns,

is adjudged incompetent, or dies.