{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-441-1503","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-441-1503","heading":"Notice and action on disposition of assets","body":"\n\nNOTICE AND ACTION ON DISPOSITION OF ASSETS. For a limited\n\ncooperative association to dispose of assets under Section 131 of\n\nthis act:\n\n(1) A majority of the board of directors, or a greater\n\npercentage if required by the organic rules, must approve the\n\nproposed disposition; and\n\n(2) The board of directors must call a members meeting to\n\nconsider the proposed disposition, hold the meeting not later than\n\nninety (90) days after approval of the proposed disposition by the\n\nboard, and mail or otherwise transmit or deliver in a record to each\n\nmember:\n\n(A) the terms of the proposed disposition;\n\n(B) a recommendation that the members approve the\n\ndisposition, or if the board determines that because\n\nof conflict of interest or other special circumstances\n\nit should not make a favorable recommendation, the\n\nbasis for that determination;\n\n(C) a statement of any condition of the board’s submission\n\nof the proposed disposition to the members; and\n\n(D) notice of the meeting at which the proposed\n\ndisposition will be considered, which must be given in\n\nthe same manner as notice of a special meeting of\n\nmembers.","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":"e61a2c80d8a8ed60d2243603d9713314e8bd4ec3eee9bd0f85c6747569524072","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-441-1502","next":"us-ok/okla.-stat.-tit.-18-18-441-1504"},"notice":"GroundRules: Original legal text. Not legal advice."}