{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-441-1207","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-441-1207","heading":"Distribution of assets in winding up limited","body":"cooperative association.\n\nDISTRIBUTION OF ASSETS IN WINDING UP LIMITED COOPERATIVE\n\nASSOCIATION.\n\n(a) In winding up a limited cooperative association’s business,\n\nthe association shall apply its assets to discharge its obligations\n\nto creditors, including members that are creditors. The association\n\nshall apply any remaining assets to pay in money the net amount\n\ndistributable to members in accordance with their right to\n\ndistributions under subsection (b) of this section.\n\n(b) Unless the organic rules otherwise provide, in this\n\nsubsection “financial interests” means the amounts recorded in the\n\nnames of members in the records of a limited cooperative association\n\nat the time a distribution is made, including amounts paid to become\n\na member, amounts allocated but not distributed to members, and\n\namounts of distributions authorized but not yet paid to members.\n\nUnless the organic rules otherwise provide, each member is entitled\n\nto a distribution from the association of any remaining assets in\n\nthe proportion of the member’s financial interests to the total\n\nfinancial interests of the members after all other obligations are\n\nsatisfied.","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":"0f518d781d4daff149fc6b0f5fbc09cd7420da42ae5f2c63010e6955b00e6de2","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-441-1206","next":"us-ok/okla.-stat.-tit.-18-18-441-1208"},"notice":"GroundRules: Original legal text. Not legal advice."}