{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-2012.2","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-2012.2","heading":"Operating agreement of LLC","body":"OPERATING AGREEMENT OF LLC\n\nA. The operating agreement of the limited liability company\n\ngoverns generally:\n\n1. Relations among the members as members and between the\n\nmembers and the limited liability company;\n\n2. The rights and duties under the Oklahoma Limited Liability\n\nCompany Act of a person in the capacity of manager;\n\n3. The activities of the company and the conduct of those\n\nactivities; and\n\n4. The means and conditions for amending the operating\n\nagreement.\n\nIf the operating agreement does not otherwise provide, the\n\nOklahoma Limited Liability Company Act governs the matter. The\n\noperating agreement may not vary the rights, privileges, duties and\n\nobligations imposed specifically under the Oklahoma Limited\n\nLiability Company Act.\n\nB. A limited liability company, including any protected series\n\nor registered series thereof, is bound by its operating agreement\n\nregardless of whether it executes the operating agreement. A member\n\nor manager of a limited liability company, or any protected series\n\nor registered series thereof, or an assignee of a capital interest\n\nis bound by the operating agreement regardless of whether the\n\nmember, manager or assignee executes the operating agreement.\n\nC. An operating agreement of a limited liability company having\n\nonly one member is not unenforceable because there is only one\n\nperson who is a party to the operating agreement.\n\nD. The obligations of a limited liability company and its\n\nmembers to an assignee or dissociated member are governed by the\n\noperating agreement. Subject only to any court order to effectuate\n\na charging order, an amendment to the operating agreement made after\n\na person becomes an assignee or dissociated member is effective with\n\nregard to any debt, obligation, or other liability of the limited\n\nliability company or its members to the assignee or dissociated\n\nmember.\n\nE. If an operating agreement does not provide for the manner in\n\nwhich it may be amended, the operating agreement may be amended with\n\nthe approval of members holding a majority of the membership\n\ninterest entitled to vote.","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":"89d2b78ba983b1fe658189f3717cebf3e6990fb71ea9df218540e0f6ba1f2c05","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-2012.1","next":"us-ok/okla.-stat.-tit.-18-18-2013"},"notice":"GroundRules: Original legal text. Not legal advice."}