{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-441-1101","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-441-1101","heading":"Member’s dissociation","body":"MEMBER’S DISSOCIATION.\n\n(a) A person has the power to dissociate as a member at any\n\ntime, rightfully or wrongfully, by express will.\n\n(b) Unless the organic rules otherwise provide, a member’s\n\ndissociation from a limited cooperative association is wrongful only\n\nif the dissociation:\n\n(1) Breaches an express provision of the organic rules; or\n\n(2) Occurs before the termination of the limited cooperative\n\nassociation and:\n\n(A) the person is expelled as a member under paragraph (3)\n\nor (4) of subsection (d) of this section; or\n\n(B) in the case of a person that is not an individual,\n\ntrust other than a business trust, or estate, the\n\nperson is expelled or otherwise dissociated as a\n\nmember because it dissolved or terminated in bad\n\nfaith.\n\n(c) Unless the organic rules otherwise provide, a person that\n\nwrongfully dissociates as a member is liable to the limited\n\ncooperative association for damages caused by the dissociation. The\n\nliability is in addition to any other debt, obligation, or liability\n\nof the person to the association.\n\n(d) A member is dissociated from the limited cooperative\n\nassociation as a member when:\n\n(1) The association receives notice in a record of the member’s\n\nexpress will to dissociate as a member, or if the member specifies\n\nin the notice an effective date later than the date the association\n\nreceived notice, on that later date;\n\n(2) An event stated in the organic rules as causing the\n\nmember’s dissociation as a member occurs;\n\n(3) The member is expelled as a member under the organic rules;\n\n(4) The member is expelled as a member by the board of\n\ndirectors because:\n\n(A) it is unlawful to carry on the association’s\n\nactivities with the member as a member;\n\n(B) there has been a transfer of all the member’s\n\nfinancial rights in the association, other than:\n\n(i) a creation or perfection of a security interest;\n\nor\n\n(ii) a charging order in effect under Section 61 of\n\nthis act which has not been foreclosed;\n\n(C) the member is a limited liability company,\n\nassociation, or partnership, which has been dissolved,\n\nand its business is being wound up; or\n\n(D) the member is a corporation or cooperative and:\n\n(i) the member filed a certificate of dissolution or\n\nthe equivalent, or the jurisdiction of formation\n\nrevoked the association’s charter or right to\n\nconduct business;\n\n(ii) the association sends a notice to the member that\n\nit will be expelled as a member for a reason\n\ndescribed in division (i) of this subparagraph;\n\nand\n\n(iii) not later than ninety (90) days after the notice\n\nwas sent under division (ii) of this\n\nsubparagraph, the member did not revoke its\n\ncertificate of dissolution or the equivalent, or\n\nthe jurisdiction of formation did not reinstate\n\nthe association’s charter or right to conduct\n\nbusiness; or\n\n(E) the member is an individual and is adjudged\n\nincompetent;\n\n(5) In the case of a member who is an individual, the\n\nindividual dies;\n\n(6) In the case of a member that is a trust or is acting as a\n\nmember by virtue of being a trustee of a trust, all the trust’s\n\nfinancial rights in the association are distributed;\n\n(7) In the case of a member that is an estate, the estate’s\n\nentire financial interest in the association is distributed;\n\n(8) In the case of a member that is not an individual,\n\npartnership, limited liability company, cooperative, corporation,\n\ntrust, or estate, the member is terminated; or\n\n(9) The association participates in a merger if under the plan\n\nof merger as approved under Article 16 of the Uniform Limited\n\nCooperative Association Act of 2009 the member ceases to be a\n\nmember.","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":"9df19976e37b8f7cd2877e9677e2eebbf320bd07810877f53b4360d87f33af0b","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-441-110","next":"us-ok/okla.-stat.-tit.-18-18-441-1102"},"notice":"GroundRules: Original legal text. Not legal advice."}