Okla. Stat. tit. 18, § 18-441-1002
This is the official text of Okla. Stat. tit. 18, § 18-441-1002, 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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Contribution and valuation
Official statutory text
CONTRIBUTION AND VALUATION.
(a) Unless the organic rules otherwise provide, the
contributions of a member to a limited cooperative association may
consist of tangible or intangible property or other benefit to the
association, including money, labor or other services performed or
to be performed, promissory notes, other agreements to contribute
money or property, and contracts to be performed.
Oklahoma Statutes - Title 18. Corporations Page 205
(b) The receipt and acceptance of contributions and the
valuation of contributions must be reflected in a limited
cooperative association’s records.
(c) Unless the organic rules otherwise provide, the board of
directors shall determine the value of a member’s contributions
received or to be received and the determination by the board of
directors of valuation is conclusive for purposes of determining
whether the member’s contribution obligation has been met.
(a) Unless the organic rules otherwise provide, the
contributions of a member to a limited cooperative association may
consist of tangible or intangible property or other benefit to the
association, including money, labor or other services performed or
to be performed, promissory notes, other agreements to contribute
money or property, and contracts to be performed.
Oklahoma Statutes - Title 18. Corporations Page 205
(b) The receipt and acceptance of contributions and the
valuation of contributions must be reflected in a limited
cooperative association’s records.
(c) Unless the organic rules otherwise provide, the board of
directors shall determine the value of a member’s contributions
received or to be received and the determination by the board of
directors of valuation is conclusive for purposes of determining
whether the member’s contribution obligation has been met.
Status: in_force · Read it on the official government site
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