{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-437.12","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-437.12","heading":"Consolidation","body":"Any two or more cooperatives, each of which is hereinafter\n\ndesignated a \"consolidating cooperative\", may consolidate into a new\n\ncooperative, hereinafter designated the \"new cooperative\", by\n\ncomplying with the following requirements:\n\n(a) The proposition for the consolidation of the consolidating\n\ncooperatives into the new cooperative and proposed articles of\n\nconsolidation to give effect thereto shall be first approved by the\n\nboard of trustees of each consolidating cooperative. The proposed\n\narticles of consolidation shall recite in the caption that they are\n\nexecuted pursuant to this act and shall state: (1) The name of each\n\nconsolidating cooperative, the address of its principal office, and\n\nthe date of the filing of its articles of incorporation in the\n\noffice of the Secretary of State; (2) the name of the new\n\ncooperative and the address of its principal office; (3) the names\n\nand addresses of the persons who shall constitute the first board of\n\ntrustees of the new cooperative; (4) the terms and conditions of the\n\nconsolidation and the mode of carrying the same into effect,\n\nincluding the manner and basis of converting memberships in each\n\nconsolidating cooperative into memberships in the new cooperative\n\nand the issuance of certificates of membership in respect of such\n\nconverted memberships; and (5) any provisions not inconsistent with\n\nthis act deemed necessary or advisable for the conduct of the\n\nbusiness and affairs of the new cooperative;\n\n(b) The proposition for the consolidation of the consolidating\n\ncooperatives into the new cooperative and the proposed articles of\n\nconsolidation approved by the board of trustees of each\n\nconsolidating cooperative shall then be submitted to a vote of the\n\nmembers thereof at any annual or special meeting thereof, the notice\n\nof which shall set forth full particulars concerning the proposed\n\nconsolidation. The proposed consolidation and the proposed articles\n\nof consolidation shall be deemed to be approved upon the affirmative\n\nvote of not less than two-thirds of those members of each\n\nconsolidating cooperative voting thereon at such meeting; and\n\n(c) Upon such approval by the members of the respective\n\nconsolidation cooperatives, articles of consolidation in the form\n\napproved shall be executed and acknowledged on behalf of each\n\nconsolidating cooperative by its president or vice president and its\n\nseal shall be affixed thereto and attested by its secretary. The\n\npresident or vice president of each consolidating cooperative\n\nexecuting such articles of consolidation shall also make and annex\n\nthereto an affidavit stating that the provisions of this section\n\nwere duly complied with by such cooperative. Such articles of\n\nconsolidation and affidavits shall be submitted to the Secretary of\n\nState for filing as provided in this act.","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":"887a2cc019034b098c5aaae4a16559934a7e90791533c0d9fbf6527c77ded3bb","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-437.11","next":"us-ok/okla.-stat.-tit.-18-18-437.13"},"notice":"GroundRules: Original legal text. Not legal advice."}