{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-441-102","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-441-102","heading":"Definitions","body":"DEFINITIONS. In the Uniform Limited Cooperative Association Act\n\nof 2009:\n\n(1) “Articles of organization” means the articles of\n\norganization of a limited cooperative association required by\n\nSection 30 of this act. The term includes the articles as amended\n\nor restated.\n\n(2) “Board of directors” means the board of directors of a\n\nlimited cooperative association.\n\n(3) “Bylaws” means the bylaws of a limited cooperative\n\nassociation. The term includes the bylaws as amended or restated.\n\n(4) “Certificate of authority” means a certificate issued by\n\nthe Secretary of State for a foreign cooperative to transact\n\nbusiness in this state.\n\n(5) “Contribution”, except as used in subsection (c) of Section\n\n97 of this act, means a benefit that a person provides to a limited\n\ncooperative association to become or remain a member or in the\n\nperson’s capacity as a member.\n\n(6) “Cooperative” means a limited cooperative association or an\n\nentity organized under any cooperative law of any jurisdiction.\n\n(7) “Designated office” means the office that a limited\n\ncooperative association or a foreign cooperative is required to\n\ndesignate and maintain under paragraph (1) of subsection (a) of\n\nSection 17 of this act.\n\n(8) “Director” means a director of a limited cooperative\n\nassociation.\n\n(9) “Distribution”, except as used in subsection (e) of Section\n\n96 of this act, means a transfer of money or other property from a\n\nlimited cooperative association to a member because of the member’s\n\nfinancial rights or to a transferee of a member’s financial rights.\n\n(10) “Entity” means a person other than an individual.\n\n(11) “Financial rights” means the right to participate in\n\nallocations and distributions as provided in Articles 10 and 12 of\n\nthe Uniform Limited Cooperative Association Act of 2009 but does not\n\ninclude rights or obligations under a marketing contract governed by\n\nArticle 7 of the Uniform Limited Cooperative Association Act of\n\n2009.\n\n(12) “Foreign cooperative” means an entity organized in a\n\njurisdiction other than this state under a law similar to the\n\nUniform Limited Cooperative Association Act of 2009.\n\n(13) “Governance rights” means the right to participate in\n\ngovernance of a limited cooperative association.\n\n(14) “Investor member” means a member that has made a\n\ncontribution to a limited cooperative association and\n\n(A) is not required by the organic rules to conduct\n\npatronage with the association in the member’s\n\ncapacity as an investor member in order to receive the\n\nmember’s interest; or\n\n(B) is not permitted by the organic rules to conduct\n\npatronage with the association in the member’s\n\ncapacity as an investor member in order to receive the\n\nmember’s interest.\n\n(15) “Limited cooperative association” means an association\n\norganized under the Uniform Limited Cooperative Association Act of\n\n2009.\n\n(16) “Member” means a person that is admitted as a patron\n\nmember or investor member, or both, in a limited cooperative\n\nassociation. The term does not include a person that has\n\ndissociated as a member.\n\n(17) “Member’s interest” means the interest of a patron member\n\nor investor member under Section 57 of this act.\n\n(18) “Members meeting” means an annual members meeting or\n\nspecial meeting of members.\n\n(19) “Organic law” means the statute providing for the creation\n\nof an entity or principally governing its internal affairs.\n\n(20) “Organic rules” means the articles of organization and\n\nbylaws of a limited cooperative association.\n\n(21) “Organizer” means an individual who signs the initial\n\narticles of organization.\nMembers meeting” means an annual members meeting or\n\nspecial meeting of members.\n\n(19) “Organic law” means the statute providing for the creation\n\nof an entity or principally governing its internal affairs.\n\n(20) “Organic rules” means the articles of organization and\n\nbylaws of a limited cooperative association.\n\n(21) “Organizer” means an individual who signs the initial\n\narticles of organization.\n\n(22) “Patron member” means a member that has made a\n\ncontribution to a limited cooperative association and:\n\n(A) is required by the organic rules to conduct patronage\n\nwith the association in the member’s capacity as a\n\npatron member in order to receive the member’s\n\ninterest; or\n\n(B) is permitted by the organic rules to conduct patronage\n\nwith the association in the member’s capacity as a\n\npatron member in order to receive the member’s\n\ninterest.\n\n(23) “Patronage” means business transactions between a limited\n\ncooperative association and a person which entitle the person to\n\nreceive financial rights based on the value or quantity of business\n\ndone between the association and the person.\n\n(24) “Person” means an individual, corporation, business trust,\n\ncooperative, estate, trust, partnership, limited partnership,\n\nlimited liability company, limited cooperative association, joint\n\nventure, association, public corporation, government or governmental\n\nsubdivision, agency, or instrumentality, or any other legal or\n\ncommercial entity.\n\n(25) “Principal office” means the principal executive office of\n\na limited cooperative association or foreign cooperative, whether or\n\nnot in this state.\n\n(26) “Record”, used as a noun, means information that is\n\ninscribed on a tangible medium or that is stored in an electronic or\n\nother medium and is retrievable in perceivable form.\n\n(27) “Required information” means the information a limited\n\ncooperative association is required to maintain under Section 14 of\n\nthis act.\n\n(28) “Sign” means, with present intent to authenticate or adopt\n\na record:\n\n(A) to execute or adopt a tangible symbol; or\n\n(B) to attach to or logically associate with the record an\n\nelectronic symbol, sound, or process.\n\n(29) “State” means a state of the United States, the District\n\nof Columbia, Puerto Rico, the United States Virgin Islands, or any\n\nterritory or insular possession subject to the jurisdiction of the\n\nUnited States.\n\n(30) “Transfer” includes an assignment, conveyance, deed, bill\n\nof sale, lease, mortgage, security interest, encumbrance, gift, and\n\ntransfer by operation of law.\n\n(31) “Voting group” means any combination of one or more voting\n\nmembers in one or more districts or classes that under the organic\n\nrules or the Uniform Limited Cooperative Association Act of 2009 are\n\nentitled to vote and can be counted together collectively on a\n\nmatter at a members meeting.\n\n(32) “Voting member” means a member that, under the organic law\n\nor organic rules, has a right to vote on matters subject to vote by\n\nmembers under the organic law or organic rules.\n\n(33) “Voting power” means the total current power of members to\n\nvote on a particular matter for which a vote may or is to be taken.","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":"ea782e58c88dc392c17e1c50aa285ee9af2c0512cd96a1497e3137cb8f1de19b","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-441-101","next":"us-ok/okla.-stat.-tit.-18-18-441-103"},"notice":"GroundRules: Original legal text. Not legal advice."}