Okla. Stat. tit. 18, § 18-2020
This is the official text of Okla. Stat. tit. 18, § 18-2020, part of Oklahoma’s Stat. tit. 18, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 18,." Browse the sections below, each linked to its official government source.
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Voting rights of members
Official statutory text
VOTING RIGHTS OF MEMBERS
A. Voting by members may be on a per capita, number, financial
interest, class, group or any other basis. Unless otherwise
provided in the articles of organization or operating agreement, the
members of a limited liability company vote in proportion to their
respective interests in the profits of the limited liability
company. Except as otherwise provided in subsection D of this
section or unless the context otherwise requires, references in the
Oklahoma Limited Liability Company Act to a vote or the consent of
the members mean a vote or consent of the members holding a majority
of the interests in the profits of the limited liability company.
The vote or consent may be evidenced in the minutes of a meeting of
the members or by a written consent in lieu of a meeting.
B. Except as otherwise provided in subsection D of this section
or in the articles of organization or operating agreement, a
majority vote of the members shall be required to approve the
following matters:
1. The sale, exchange, lease, mortgage, pledge, or other
transfer of all or substantially all of the assets of the limited
liability company;
2. Merger of the limited liability company with another limited
liability company or other entity; and
3. An amendment to the articles of organization or operating
agreement.
C. The articles of organization or operating agreement may
alter the above voting rights and provide for any other voting
rights of members.
D. Unless otherwise provided in the articles of organization or
a written operating agreement, the unanimous vote or consent of the
members shall be required to approve the following matters:
1. The dissolution of the limited liability company pursuant to
paragraph 3 of subsection A of Section 2037 of this title; or
2. An amendment to the articles of organization or an amendment
to a written operating agreement:
a. which reduces the term of the existence of the limited
liability company,
b. which reduces the required vote of members to approve
a dissolution, merger or sale, exchange, lease,
mortgage, pledge, or other transfer of all or
substantially all of the assets of the limited
liability company,
c. which permits a member to voluntarily withdraw from
the limited liability company, or
Oklahoma Statutes - Title 18. Corporations Page 556
d. which reduces the required vote of members to approve
an amendment to the articles of organization or
written operating agreement reducing the vote
previously required on the matters described in this
paragraph.
E. An operating agreement may grant to all or certain
identified members or a specified class or group of the members the
right to vote separately or with all or any class or group of the
members or managers, on any matter.
A. Voting by members may be on a per capita, number, financial
interest, class, group or any other basis. Unless otherwise
provided in the articles of organization or operating agreement, the
members of a limited liability company vote in proportion to their
respective interests in the profits of the limited liability
company. Except as otherwise provided in subsection D of this
section or unless the context otherwise requires, references in the
Oklahoma Limited Liability Company Act to a vote or the consent of
the members mean a vote or consent of the members holding a majority
of the interests in the profits of the limited liability company.
The vote or consent may be evidenced in the minutes of a meeting of
the members or by a written consent in lieu of a meeting.
B. Except as otherwise provided in subsection D of this section
or in the articles of organization or operating agreement, a
majority vote of the members shall be required to approve the
following matters:
1. The sale, exchange, lease, mortgage, pledge, or other
transfer of all or substantially all of the assets of the limited
liability company;
2. Merger of the limited liability company with another limited
liability company or other entity; and
3. An amendment to the articles of organization or operating
agreement.
C. The articles of organization or operating agreement may
alter the above voting rights and provide for any other voting
rights of members.
D. Unless otherwise provided in the articles of organization or
a written operating agreement, the unanimous vote or consent of the
members shall be required to approve the following matters:
1. The dissolution of the limited liability company pursuant to
paragraph 3 of subsection A of Section 2037 of this title; or
2. An amendment to the articles of organization or an amendment
to a written operating agreement:
a. which reduces the term of the existence of the limited
liability company,
b. which reduces the required vote of members to approve
a dissolution, merger or sale, exchange, lease,
mortgage, pledge, or other transfer of all or
substantially all of the assets of the limited
liability company,
c. which permits a member to voluntarily withdraw from
the limited liability company, or
Oklahoma Statutes - Title 18. Corporations Page 556
d. which reduces the required vote of members to approve
an amendment to the articles of organization or
written operating agreement reducing the vote
previously required on the matters described in this
paragraph.
E. An operating agreement may grant to all or certain
identified members or a specified class or group of the members the
right to vote separately or with all or any class or group of the
members or managers, on any matter.
Status: in_force · Read it on the official government site
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