{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-441-605","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-441-605","heading":"Charging orders for judgment creditor of member or","body":"transferee.\n\nCHARGING ORDERS FOR JUDGMENT CREDITOR OF MEMBER OR TRANSFEREE.\n\n(a) On application by a judgment creditor of a member or\n\ntransferee, a court may enter a charging order against the financial\n\nrights of the judgment debtor for the unsatisfied amount of the\n\njudgment. A charging order issued under this subsection constitutes\n\na lien on the judgment debtor’s financial rights and requires the\n\nlimited cooperative association to pay over to the creditor or\n\nreceiver, to the extent necessary to satisfy the judgment, any\n\ndistribution that would otherwise be paid to the judgment debtor.\n\n(b) To the extent necessary to effectuate the collection of\n\ndistributions pursuant to a charging order under subsection (a) of\n\nthis section, the court may:\n\n(1) Appoint a receiver of the share of the distributions due or\n\nto become due to the judgment debtor under the judgment debtor’s\n\nfinancial rights, with the power to make all inquiries the judgment\n\ndebtor might have made; and\n\n(2) Make all other orders that the circumstances of the case\n\nmay require to give effect to the charging order.\n\n(c) Upon a showing that distributions under a charging order\n\nwill not pay the judgment debt within a reasonable time, the court\n\nmay foreclose the lien and order the sale of the financial rights.\n\nThe purchaser at the foreclosure sale obtains only the financial\n\nrights that are subject to the charging order, does not thereby\n\nbecome a member, and is subject to Section 59 of this act.\n\n(d) At any time before a sale pursuant to a foreclosure, a\n\nmember or transferee whose financial rights are subject to a\n\ncharging order under subsection (a) of this section may extinguish\n\nthe charging order by satisfying the judgment and filing a certified\n\ncopy of the satisfaction with the court that issued the charging\n\norder.\n\n(e) At any time before sale pursuant to a foreclosure, the\n\nlimited cooperative association or one or more members whose\n\nfinancial rights are not subject to the charging order may pay to\n\nthe judgment creditor the full amount due under the judgment and\n\nsucceed to the rights of the judgment creditor, including the\n\ncharging order. Unless the organic rules otherwise provide, the\n\nassociation may act under this subsection only with the consent of\n\nall members whose financial rights are not subject to the charging\n\norder.\n\n(f) The Uniform Limited Cooperative Association Act of 2009\n\ndoes not deprive any member or transferee of the benefit of any\n\nexemption laws applicable to the member’s or transferee’s financial\n\nrights.\n\n(g) This section provides the exclusive remedy by which a\n\njudgment creditor of a member or transferee may satisfy the judgment\n\nfrom the member’s or transferee’s financial rights.","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":"8c102adb3e0fab700574e2abcb7e5aa359f2de60af06c5ce3fa569ada3e56916","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-441-604","next":"us-ok/okla.-stat.-tit.-18-18-441-701"},"notice":"GroundRules: Original legal text. Not legal advice."}