{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-441-304","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-441-304","heading":"Bylaws","body":"BYLAWS.\n\n(a) Bylaws must be in a record and, if not stated in the\n\narticles of organization, must include:\n\n(1) A statement of the capital structure of the limited\n\ncooperative association, including:\n\n(A) the classes or other types of members’ interests and\n\nrelative rights, preferences, and restrictions granted\n\nto or imposed upon each class or other type of\n\nmember’s interest; and\n\n(B) the rights to share in profits or distributions of the\n\nassociation;\n\n(2) A statement of the method for admission of members;\n\n(3) A statement designating voting and other governance rights,\n\nincluding which members have voting power and any restriction on\n\nvoting power;\n\n(4) A statement that a member’s interest is transferable if it\n\nis to be transferable and a statement of the conditions upon which\n\nit may be transferred;\n\n(5) A statement concerning the manner in which profits and\n\nlosses are allocated and distributions are made among patron members\n\nand, if investor members are authorized, the manner in which profits\n\nand losses are allocated and how distributions are made among\n\ninvestor members and between patron members and investor members;\n\n(6) A statement concerning:\n\n(A) whether persons that are not members but conduct\n\nbusiness with the association may be permitted to\n\nshare in allocations of profits and losses and receive\n\ndistributions; and\n\n(B) the manner in which profits and losses are allocated\n\nand distributions are made with respect to those\n\npersons; and\n\n(7) A statement of the number and terms of directors or the\n\nmethod by which the number and terms are determined.\n\n(b) Subject to subsection (c) of Section 13 of this act and the\n\narticles of organization, bylaws may contain any other provision for\n\nmanaging and regulating the affairs of the association.\n\n(c) In addition to amendments permitted under Article 4 of the\n\nUniform Limited Cooperative Association Act of 2009, the initial\n\nboard of directors may amend the bylaws by a majority vote of the\n\ndirectors at any time before the admission of members.","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":"e1b3768c1e35edfffee3ec75cd3749dd63d1f13f667d641f1e5f6b5fe2ca00a2","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-441-303","next":"us-ok/okla.-stat.-tit.-18-18-441-401"},"notice":"GroundRules: Original legal text. Not legal advice."}