{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-441-1504","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-441-1504","heading":"Disposition of assets","body":"DISPOSITION OF ASSETS.\n\n(a) Subject to subsection (b) of this section, a disposition of\n\nassets under Section 131 of this act 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 Section\n\n132 of this act; 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 vote by patron\n\nmembers.\n\n(b) The organic rules may require that the percentage of votes\n\nunder paragraph (1) of subsection (a) of this section is:\n\n(1) A different percentage that is not less than a majority of\n\nmembers voting at the meeting;\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.\n\n(c) Subject to any contractual obligations, after a disposition\n\nof assets is approved and at any time before the consummation of the\n\ndisposition, a limited cooperative association may approve an\n\namendment to the contract for disposition or the resolution\n\nauthorizing the disposition or approve abandonment of the\n\ndisposition:\n\n(1) As provided in the contract or the resolution; and\n\n(2) Except as prohibited by the resolution, with the same\n\naffirmative vote of the board of directors and of the members as was\n\nrequired to approve the disposition.\n\n(d) The voting requirements for districts, classes, or voting\n\ngroups under Section 36 of this act apply to approval of a\n\ndisposition of assets under this article.","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":"7bbc370205a0ebb0abadb893827e93c39aa65ac340162c02a1342917cf8f5049","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-441-1503","next":"us-ok/okla.-stat.-tit.-18-18-441-1601"},"notice":"GroundRules: Original legal text. Not legal advice."}