{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-2601","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-2601","heading":"Corporations authorized - Powers","body":"A. Corporations may be organized not for profits under the laws\n\nof the State of Oklahoma, for the purpose of establishing,\n\nmaintaining and operating a not-for-profit hospital service or\n\nindemnity plan, and/or a not-for-profit medical or indemnity plan,\n\nfor the purpose of making contracts of insurance or indemnity, or\n\nfor the purpose of making indemnity plan contracts, or for all such\n\npurposes, by complying with the provisions of this article and shall\n\nbe exempt from all other provisions of the insurance laws and the\n\ngeneral corporation laws of this state, unless otherwise\n\nspecifically provided herein.\n\nB. Every corporation organized under the provisions of this\n\narticle may, in the corporate name:\n\n1. Sue and be sued;\n\n2. Enter into contracts;\n\n3. Prescribe qualifications and the manner and form of\n\nadmission or withdrawal of members;\n\n4. Have and use a common seal which may be changed or altered\n\nat pleasure;\n\n5. Take, purchase, lease, hold or dispose of real or personal\n\nproperty in the corporate name, or in the name of trustees chosen by\n\nthe board of directors;\n\n6. Invest, loan, borrow money and incur debt, and engage in all\n\nforms of business transactions which are not inconsistent with the\n\narticles of incorporation or bylaws of the corporation, or with law;\n\n7. Make all necessary rules and regulations concerning risks or\n\nhazards incurred, the premium rates to be used, and adjustment and\n\npayment of losses;\n\n8. Insure, indemnify, and fix the compensation of directors and\n\nofficers of the corporation and require bond for the faithful\n\nperformance of duties by such directors and officers;\n\n9. Exercise all such other powers as may be necessary to carry\n\ninto effect the purpose or object of such corporation subject to the\n\nrestrictions provided in this section;\n\n10. Make or amend bylaws not inconsistent with law or\n\nprovisions of the articles of incorporation, provided such bylaws\n\nshall fix the date and place of the annual meeting of members, shall\n\ndesignate the number of directors which shall not be less than five\n\n(5), and shall define the duties of the officers and fix the term of\n\noffice of the directors and officers of such corporation; and\n\n11. Make all further necessary provisions concerning the\n\nconduct of the business affairs of the corporation.","path":["OK Code","Title 36"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os36.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"c70728f9d199511c983302a548be5cb085f121979f8369e9a080ca62cf45e0f6","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-2517","next":"us-ok/okla.-stat.-tit.-36-36-2602"},"notice":"GroundRules: Original legal text. Not legal advice."}