Okla. Stat. tit. 18, § 18-438.9
This is the official text of Okla. Stat. tit. 18, § 18-438.9, 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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Membership - Shares of stock - Qualification as patron
Official statutory text
A. Each incorporator of a cooperative shall be a member thereof
but no other person may become a member thereof unless such other
person agrees to use communication services furnished by the
cooperative when it is made available through its facilities, except
as otherwise provided in the bylaws. Membership in a cooperative
may be evidenced by a certificate of membership which shall not be
transferable, except as provided by the bylaws. The bylaws may
prescribe additional qualifications and limitations in respect of
membership, provided that ownership of shares of stock, if any are
authorized, shall not be a condition of membership in the
cooperative.
B. In case the issuance of shares of stock is provided for in
the articles of incorporation, ownership thereof shall be evidenced
by share certificates. No share of stock shall be issued except for
cash, or for property at its fair value, in an amount equal to the
par value of such share of stock.
C. Membership and share certificates shall contain such
provisions, consistent with this act and the articles of
incorporation of the cooperative, as shall be prescribed by its
bylaws.
D. Each member who purchases communication services in the
ordinary course of business of the cooperative is a patron of the
cooperative, except the use of inter-exchange access, payment of
inter-exchange access fares or settlements, or the purchase of
equipment does not qualify a member or other person as a patron.
The bylaws of the cooperative may provide other circumstances where
a member or other person will not qualify to be a patron.
but no other person may become a member thereof unless such other
person agrees to use communication services furnished by the
cooperative when it is made available through its facilities, except
as otherwise provided in the bylaws. Membership in a cooperative
may be evidenced by a certificate of membership which shall not be
transferable, except as provided by the bylaws. The bylaws may
prescribe additional qualifications and limitations in respect of
membership, provided that ownership of shares of stock, if any are
authorized, shall not be a condition of membership in the
cooperative.
B. In case the issuance of shares of stock is provided for in
the articles of incorporation, ownership thereof shall be evidenced
by share certificates. No share of stock shall be issued except for
cash, or for property at its fair value, in an amount equal to the
par value of such share of stock.
C. Membership and share certificates shall contain such
provisions, consistent with this act and the articles of
incorporation of the cooperative, as shall be prescribed by its
bylaws.
D. Each member who purchases communication services in the
ordinary course of business of the cooperative is a patron of the
cooperative, except the use of inter-exchange access, payment of
inter-exchange access fares or settlements, or the purchase of
equipment does not qualify a member or other person as a patron.
The bylaws of the cooperative may provide other circumstances where
a member or other person will not qualify to be a patron.
Status: in_force · Read it on the official government site
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