Okla. Stat. tit. 2, § 2-15-2: Limitation on indebtedness - Purchase of realty -

Mortgages - Directors' liability.

Agricultural Fair Corporations shall not contract any debts or

liabilities in excess of the amount of money in the treasury at the

time of contract except for the purchase of real property, for which

they may create a debt not exceeding Three Thousand Dollars

($3,000.00), secured by mortgage on the property of the corporation.

The directors of any Agricultural Fair Corporation who vote therefor

shall be personally liable for any debt contracted or incurred in

violation of this section.

R.L. 1910, § 23. Amended by Laws 2001, c. 146, § 147, emerg. eff.

April 30, 2001. Renumbered from § 32 of this title by Laws 2001, c.

146, § 267, emerg. eff. April 30, 2001.