{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-2001","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-2001","heading":"Definitions","body":"DEFINITIONS\n\nAs used in the Oklahoma Limited Liability Company Act, unless\n\nthe context otherwise requires:\n\n1. “Articles of organization” means documents filed for the\n\npurpose of forming a limited liability company, and the articles as\n\namended;\n\n2. “Bankrupt” means bankrupt under the United States Bankruptcy\n\nCode, as amended, or insolvent under any state insolvency act;\n\n3. “Business” means any trade, occupation, profession or other\n\nactivity regardless of whether engaged in for gain, profit or\n\nlivelihood;\n\n4. “Capital contribution” means anything of value that a person\n\ncontributes to the limited liability company as a prerequisite for,\n\nor in connection with, membership including cash, property, services\n\nrendered or a promissory note or other binding obligation to\n\ncontribute cash or property or to perform services;\n\n5. “Capital interest” means the fair market value as of the\n\ndate contributed of a member’s capital contribution as adjusted for\n\nany additional capital contributions or withdrawals, a person’s\n\nshare of the profits and losses of a limited liability company and a\n\nperson’s right to receive distributions of the limited liability\n\ncompany’s assets;\n\n6. “Charitable entity” means any nonprofit limited liability\n\ncompany or other entity 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\n7. “Corporation” means a corporation organized under the laws\n\nof this state or the laws of any jurisdiction other than this state;\n\n8. “Court” includes every court and judge having jurisdiction\n\nin the case;\n\n9. “Document” means:\n\na. any tangible medium on which information is inscribed\n\nincluding handwritten, typed, printed, or similar\n\ninstruments and copies of such instruments, and\n\nb. an electronic transmission;\n\n10. “Electronic transmission” means any form of communication\n\nnot directly involving the physical transmission of paper including\n\nthe use of or participation in one or more electronic networks or\n\ndatabases, including one or more distributed electronic networks or\n\ndatabases, that creates a record that may be retained, retrieved,\n\nand reviewed by a recipient thereof and that may be directly\n\nreproduced in paper form by such a recipient through an automated\n\nprocess;\n\n11. “Foreign corporation” means a corporation organized under\n\nthe laws of any jurisdiction other than this state;\n\n12. “Foreign limited liability company” means:\n\na. an unincorporated association,\n\nb. formed under the laws of any jurisdiction other than\n\nthis state, and\n\nc. formed under a statute pursuant to which an\n\nassociation may be formed that affords to each of its\n\nmembers limited liability with respect to the\n\nliabilities of the entity;\n\n13. “Foreign limited partnership” means a limited partnership\n\nformed under the laws of any jurisdiction other than this state;\n\n14. “Jurisdiction”, when used to refer to a political entity,\n\nmeans the United States, a state, a tribal government, a foreign\n\ncountry or a political subdivision of a foreign country;\n\n15. “Limited liability company” or “domestic limited liability\n\ncompany” means an entity formed under the Oklahoma Limited Liability\n\nCompany Act and existing under the laws of this state;\n\n16. “Limited partnership” means a limited partnership formed\n\nunder the laws of this state or a foreign limited partnership as\n\ndefined in this section;\n\n17. “Manager” or “managers” means a person or persons\n\ndesignated by the members of a limited liability company to manage\n\nthe limited liability company as provided in the articles of\n\norganization or an operating agreement and includes a manager of the\n\nlimited liability company generally and a manager associated with a\n\nseries of the limited liability company. Unless the context\n\notherwise requires, references in this act to a manager shall be\nsons\n\ndesignated by the members of a limited liability company to manage\n\nthe limited liability company as provided in the articles of\n\norganization or an operating agreement and includes a manager of the\n\nlimited liability company generally and a manager associated with a\n\nseries of the limited liability company. Unless the context\n\notherwise requires, references in this act to a manager shall be\n\ndeemed to be references to a manager of the limited liability\n\ncompany generally and to a manager associated with a series with\n\nrespect to such series;\n\n18. “Member” means a person with an ownership interest in a\n\nlimited liability company, with the rights and obligations specified\n\nunder the Oklahoma Limited Liability Company Act and includes a\n\nmember of the limited liability company generally and a member\n\nassociated with a series of the limited liability company. Unless\n\nthe context otherwise requires, references in this act to a member\n\nshall be deemed to be references to a member of the limited\n\nliability company generally and to a member associated with a series\n\nwith respect to such series;\n\n19. “Membership interest” or “interest” means a member’s rights\n\nin the limited liability company, collectively including the\n\nmember’s share of the profits and losses of the limited liability\n\ncompany, the right to receive distributions of the limited liability\n\ncompany’s assets and capital interest, any right to vote or\n\nparticipate in management and such other rights accorded to members\n\nunder the articles of organization, operating agreement or the\n\nOklahoma Limited Liability Company Act;\n\n20. “Operating agreement”, regardless of whether referred to as\n\nan operating agreement and whether oral, in a record, implied or in\n\nany combination thereof, means any agreement of the members,\n\nincluding a sole member, as to the affairs of a limited liability\n\ncompany including any protected series or registered series thereof\n\nand the conduct of its business including the agreement as amended\n\nor restated;\n\n21. “Person” means an individual, a general partnership, a\n\nlimited partnership, a limited liability company, a trust, an\n\nestate, an association, a corporation or any other legal or\n\ncommercial entity;\n\n22. “Protected series” means a designated series of members,\n\nmanagers, membership interests, or assets that is established in\n\naccordance with Section 2054.4 of this title;\n\n23. “Registered series” means a designated series of members,\n\nmanagers, membership interests, or assets that is formed in\n\naccordance with Section 14 of this act; and\n\n24. “State” means a state, territory or possession of the\n\nUnited States, the District of Columbia or the Commonwealth of\n\nPuerto Rico.","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":"8e1a30dcd23d690cfd4213719dee6973175c0e1c5312820a7b8127d136cf0945","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-2000","next":"us-ok/okla.-stat.-tit.-18-18-2002"},"notice":"GroundRules: Original legal text. Not legal advice."}