Okla. Stat. tit. 18, § 18-381.31
This is the official text of Okla. Stat. tit. 18, § 18-381.31, 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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Directors
Official statutory text
A. The operating and business policies of each association
shall be directed by a board of directors of not less than five nor
more than fifteen persons elected by a majority of the votes of the
members or stockholders present in person or by proxy at the annual
meeting. Directors need not be members or stockholders unless so
required by the association's certificate of incorporation or
bylaws. A majority of the directors shall be bona fide residents of
this state. Directors may be elected for a longer term than one (1)
year if the bylaws so provide, but no director may be elected for a
term longer than three (3) years, and the terms of at least two
directors shall expire each year.
B. If a vacancy occurs with respect to the board of directors,
the remaining directors, though less than a quorum, may fill such
vacancy by electing a director or directors to serve the remainder
of the unexpired term for the class of directors in which such
vacancies exist.
C. The board of directors shall meet each year, following the
annual members' or stockholders' meeting, and shall elect the
officers at such meeting. Such additional meetings of the board of
directors shall or may be held as the bylaws shall require or
permit. A majority of the directors, if present at any meeting,
shall constitute a quorum unless the bylaws otherwise provide.
shall be directed by a board of directors of not less than five nor
more than fifteen persons elected by a majority of the votes of the
members or stockholders present in person or by proxy at the annual
meeting. Directors need not be members or stockholders unless so
required by the association's certificate of incorporation or
bylaws. A majority of the directors shall be bona fide residents of
this state. Directors may be elected for a longer term than one (1)
year if the bylaws so provide, but no director may be elected for a
term longer than three (3) years, and the terms of at least two
directors shall expire each year.
B. If a vacancy occurs with respect to the board of directors,
the remaining directors, though less than a quorum, may fill such
vacancy by electing a director or directors to serve the remainder
of the unexpired term for the class of directors in which such
vacancies exist.
C. The board of directors shall meet each year, following the
annual members' or stockholders' meeting, and shall elect the
officers at such meeting. Such additional meetings of the board of
directors shall or may be held as the bylaws shall require or
permit. A majority of the directors, if present at any meeting,
shall constitute a quorum unless the bylaws otherwise provide.
Status: in_force · Read it on the official government site
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