{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-441-1206","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-441-1206","heading":"Winding up","body":"WINDING UP.\n\n(a) A limited cooperative association continues after\n\ndissolution only for purposes of winding up its activities.\n\n(b) In winding up a limited cooperative association’s\n\nactivities, the board of directors shall cause the association to:\n\n(1) Discharge its liabilities, settle and close its activities,\n\nand marshal and distribute its assets;\n\n(2) Preserve the association or its property as a going concern\n\nfor no more than a reasonable time;\n\n(3) Prosecute and defend actions and proceedings;\n\n(4) Transfer association property; and\n\n(5) Perform other necessary acts.\n\n(c) After dissolution and upon application of a limited\n\ncooperative association, a member, or a holder of financial rights,\n\nthe district court may order judicial supervision of the winding up\n\nof the association, including the appointment of a person to wind up\n\nthe association’s activities, if:\n\n(1) After a reasonable time, the association has not wound up\n\nits activities; or\n\n(2) The applicant establishes other good cause.\n\n(d) If a person is appointed pursuant to subsection (c) of this\n\nsection to wind up the activities of a limited cooperative\n\nassociation, the association shall promptly deliver to the Secretary\n\nof State for filing an amendment to the articles of organization to\n\nreflect the appointment.","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":"c6a3bd22f0ddb1c1b8d8bd14d3815b82062e0228311ebc6afc7fcaf4d79ed304","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-441-1205","next":"us-ok/okla.-stat.-tit.-18-18-441-1207"},"notice":"GroundRules: Original legal text. Not legal advice."}