Okla. Stat. tit. 18, § 18-441-402: Notice and action on amendment of organic rules

NOTICE AND ACTION ON AMENDMENT OF ORGANIC RULES.

(a) Except as provided in subsection (a) of Section 33 of this

act and subsection (f) of Section 37 of this act, the organic rules

of a limited cooperative association may be amended only at a

members meeting. An amendment may be proposed by either:

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

percentage if required by the organic rules; or

(2) One or more petitions signed by at least ten percent (10%)

of the patron members or at least ten percent (10%) of the investor

members.

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

consider an amendment proposed pursuant to subsection (a) of this

section. The meeting must be held not later than ninety (90) days

following the proposal of the amendment by the board or receipt of a

petition. The board must mail or otherwise transmit or deliver in a

record to each member:

(1) The proposed amendment, or a summary of the proposed

amendment and a statement of the manner in which a copy of the

amendment in a record may be reasonably obtained by a member;

(2) A recommendation that the members approve the amendment, 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 amendment to the members; and

(4) Notice of the meeting at which the proposed amendment will

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

a special meeting of members.