{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-1004.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-1004.1","heading":"Application of act to nonstock corporations","body":"APPLICATION OF ACT TO NONSTOCK CORPORATIONS\n\nA. Except as otherwise provided in subsections B and C of this\n\nsection, the provisions of this chapter shall apply to nonstock\n\ncorporations in the manner specified in paragraphs 1 through 4 of\n\nthis subsection:\n\n1. All references to shareholders of the corporation shall be\n\ndeemed to refer to members of the corporation;\n\n2. All references to the board of directors of the corporation\n\nshall be deemed to refer to the governing body of the corporation;\n\n3. All references to directors or to members of the board of\n\ndirectors of the corporation shall be deemed to refer to members of\n\nthe governing body of the corporation; and\n\n4. All references to stock, capital stock, or shares thereof of\n\na corporation authorized to issue capital stock shall be deemed to\n\nrefer to memberships of a nonprofit nonstock corporation and to\n\nmembership interests of any other nonstock corporation.\n\nB. Subsection A of this section shall not apply to:\n\n1. This subsection or to paragraph 4 of subsection A and\n\nparagraphs 1 and 2 of subsection B of Section 1006, subsection A of\n\nSection 1013, Sections 1027, 1035, 1060 and 1073, subsection B of\n\nSection 1075, and Sections 1076, 1077, 1083, 1084, 1085, 1086, 1087,\n\n1092, 1097, 1119 and 1120 of this title, which apply to nonstock\n\ncorporations by their terms; and\n\n2. Subsection B of Section 1013, Sections 1032, 1033, 1034,\n\n1036, 1037, subsection D of 1038, 1039, 1042, 1043, 1044, 1045,\n\n1046, 1047, Sections 22 and 23 of this act, 1056, 1057, 1058, 1059,\n\n1061, 1064, 1067, 1075.1, 1078, 1079, 1081, 1082, 1083.1, 1090.3,\n\n1095, 1096, 1130 through 1138, and 1142 of this title.\n\nC. In the case of a nonprofit, nonstock corporation, subsection\n\nA of this section shall not apply to:\n\n1. The sections listed in subsection B of this section; and\n\n2. Paragraph 3 of subsection B of Section 1006, paragraph 2 of\n\nsubsection A of Section 1030, Sections 1032 through 1055, 1062,\n\nsubsections A and B of 1063, and 1091 of this title.\n\nD. For purposes of the Oklahoma General Corporation Act:\n\n1. A “charitable nonstock corporation” is any nonprofit\n\nnonstock corporation that is exempt from taxation under Section\n\n501(c)(3) of the United States Internal Revenue Code, 26 U.S.C.\n\nSection 501(c)(3), or any successor provisions;\n\n2. A “membership interest” is, unless otherwise provided in a\n\nnonstock corporation’s certificate of incorporation, a member’s\n\nshare of the profits and losses of a nonstock corporation, or a\n\nmember’s right to receive distributions of the nonstock\n\ncorporation’s assets, or both;\n\n3. A “nonprofit nonstock corporation” is a nonstock corporation\n\nthat does not have membership interests;\n\n4. A “nonstock corporation” is any corporation organized under\n\nthe Oklahoma General Corporation Act that is not authorized to issue\n\ncapital stock; and\n\n5. The terms “not-for-profit” and “nonprofit” are synonymous.","path":["OK Code","Title 18"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os18.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"4f6aee9f91bfa238f394cf90130dcdcd609d18199aa6f268dba041acdf3b0d27","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-1004","next":"us-ok/okla.-stat.-tit.-18-18-1005"},"notice":"GroundRules: Original legal text. Not legal advice."}