{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-441-1205","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-441-1205","heading":"Voluntary dissolution by the board and members","body":"VOLUNTARY DISSOLUTION BY THE BOARD AND MEMBERS.\n\n(a) Except as otherwise provided in Section 105 of this act,\n\nfor a limited cooperative association to voluntarily dissolve:\n\n(1) A resolution to dissolve must be approved by a majority\n\nvote of the board of directors unless a greater percentage is\n\nrequired by the organic rules;\n\n(2) The board of directors must call a members meeting to\n\nconsider the resolution, to be held not later than ninety (90) days\n\nafter adoption of the resolution; and\n\n(3) The board of directors must mail or otherwise transmit or\n\ndeliver to each member in a record that complies with Section 47 of\n\nthis act:\n\n(A) the resolution required by paragraph (1) of this\n\nsubsection;\n\n(B) a recommendation that the members vote in favor of the\n\nresolution or, if the board determines that because of\n\nconflict of interest or other special circumstances it\n\nshould not make a favorable recommendation, the basis\n\nof that determination; and\n\n(C) notice of the members meeting, which must be given in\n\nthe same manner as notice of a special meeting of\n\nmembers.\n\n(b) Subject to subsection (c) of this section, a resolution to\n\ndissolve must be approved by:\n\n(1) At least two-thirds (2/3) of the voting power of members\n\npresent at a members meeting called under paragraph (2) of\n\nsubsection (a) of this section; and\n\n(2) If the limited cooperative association has investor\n\nmembers, at least a majority of the votes cast by patron members,\n\nunless the organic rules require a greater percentage.\n\n(c) The organic rules may require that the percentage of votes\n\nunder paragraph (1) of subsection (b) of this section is:\n\n(1) A different percentage that is not less than a majority of\n\nmembers voting at the meeting; or\n\n(2) Measured against the voting power of all members; or\n\n(3) A combination of paragraphs (1) and (2) of this subsection.","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":"ba2cf8ec7edf84a79cedfc7847ff002e40a66ff78bb6a74b3131ee12653a7e80","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-441-1204","next":"us-ok/okla.-stat.-tit.-18-18-441-1206"},"notice":"GroundRules: Original legal text. Not legal advice."}