Okla. Stat. tit. 18, § 18-441-603: Transferability of member’s interest

TRANSFERABILITY OF MEMBER’S INTEREST.

(a) The provisions of the Uniform Limited Cooperative Act of

2009 relating to the transferability of a member’s interest are

subject to the Uniform Commercial Code.

(b) Unless the organic rules otherwise provide, a member’s

interest other than financial rights is not transferable.

(c) Unless a transfer is restricted or prohibited by the

organic rules, a member may transfer its financial rights in the

limited cooperative association.

(d) The terms of any restriction on transferability of

financial rights must be:

(1) Set forth in the organic rules and the member records of

the association; and

(2) Conspicuously noted on any certificates evidencing a

member’s interest.

(e) A transferee of a member’s financial rights, to the extent

the rights are transferred, has the right to share in the allocation

of profits or losses and to receive the distributions to the member

transferring the interest to the same extent as the transferring

member.

(f) A transferee of a member’s financial rights does not become

a member upon transfer of the rights unless the transferee is

admitted as a member by the limited cooperative association.

(g) A limited cooperative association need not give effect to a

transfer under this section until the association has notice of the

transfer.

(h) A transfer of a member’s financial rights in violation of a

restriction on transfer contained in the organic rules is

ineffective as to a person having notice of the restriction at the

time of transfer.