Okla. Stat. tit. 18, § 18-441-102
This is the official text of Okla. Stat. tit. 18, § 18-441-102, 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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Definitions
Official statutory text
DEFINITIONS. In the Uniform Limited Cooperative Association Act
of 2009:
(1) “Articles of organization” means the articles of
organization of a limited cooperative association required by
Section 30 of this act. The term includes the articles as amended
or restated.
(2) “Board of directors” means the board of directors of a
limited cooperative association.
(3) “Bylaws” means the bylaws of a limited cooperative
association. The term includes the bylaws as amended or restated.
(4) “Certificate of authority” means a certificate issued by
the Secretary of State for a foreign cooperative to transact
business in this state.
(5) “Contribution”, except as used in subsection (c) of Section
97 of this act, means a benefit that a person provides to a limited
cooperative association to become or remain a member or in the
person’s capacity as a member.
(6) “Cooperative” means a limited cooperative association or an
entity organized under any cooperative law of any jurisdiction.
(7) “Designated office” means the office that a limited
cooperative association or a foreign cooperative is required to
designate and maintain under paragraph (1) of subsection (a) of
Section 17 of this act.
(8) “Director” means a director of a limited cooperative
association.
(9) “Distribution”, except as used in subsection (e) of Section
96 of this act, means a transfer of money or other property from a
limited cooperative association to a member because of the member’s
financial rights or to a transferee of a member’s financial rights.
(10) “Entity” means a person other than an individual.
(11) “Financial rights” means the right to participate in
allocations and distributions as provided in Articles 10 and 12 of
the Uniform Limited Cooperative Association Act of 2009 but does not
include rights or obligations under a marketing contract governed by
Article 7 of the Uniform Limited Cooperative Association Act of
2009.
(12) “Foreign cooperative” means an entity organized in a
jurisdiction other than this state under a law similar to the
Uniform Limited Cooperative Association Act of 2009.
(13) “Governance rights” means the right to participate in
governance of a limited cooperative association.
(14) “Investor member” means a member that has made a
contribution to a limited cooperative association and
(A) is not required by the organic rules to conduct
patronage with the association in the member’s
Oklahoma Statutes - Title 18. Corporations Page 163
capacity as an investor member in order to receive the
member’s interest; or
(B) is not permitted by the organic rules to conduct
patronage with the association in the member’s
capacity as an investor member in order to receive the
member’s interest.
(15) “Limited cooperative association” means an association
organized under the Uniform Limited Cooperative Association Act of
2009.
(16) “Member” means a person that is admitted as a patron
member or investor member, or both, in a limited cooperative
association. The term does not include a person that has
dissociated as a member.
(17) “Member’s interest” means the interest of a patron member
or investor member under Section 57 of this act.
(18) “Members meeting” means an annual members meeting or
special meeting of members.
(19) “Organic law” means the statute providing for the creation
of an entity or principally governing its internal affairs.
(20) “Organic rules” means the articles of organization and
bylaws of a limited cooperative association.
(21) “Organizer” means an individual who signs the initial
articles of organization.
Members meeting” means an annual members meeting or
special meeting of members.
(19) “Organic law” means the statute providing for the creation
of an entity or principally governing its internal affairs.
(20) “Organic rules” means the articles of organization and
bylaws of a limited cooperative association.
(21) “Organizer” means an individual who signs the initial
articles of organization.
(22) “Patron member” means a member that has made a
contribution to a limited cooperative association and:
(A) is required by the organic rules to conduct patronage
with the association in the member’s capacity as a
patron member in order to receive the member’s
interest; or
(B) is permitted by the organic rules to conduct patronage
with the association in the member’s capacity as a
patron member in order to receive the member’s
interest.
(23) “Patronage” means business transactions between a limited
cooperative association and a person which entitle the person to
receive financial rights based on the value or quantity of business
done between the association and the person.
(24) “Person” means an individual, corporation, business trust,
cooperative, estate, trust, partnership, limited partnership,
limited liability company, limited cooperative association, joint
venture, association, public corporation, government or governmental
subdivision, agency, or instrumentality, or any other legal or
commercial entity.
(25) “Principal office” means the principal executive office of
a limited cooperative association or foreign cooperative, whether or
not in this state.
Oklahoma Statutes - Title 18. Corporations Page 164
(26) “Record”, used as a noun, means information that is
inscribed on a tangible medium or that is stored in an electronic or
other medium and is retrievable in perceivable form.
(27) “Required information” means the information a limited
cooperative association is required to maintain under Section 14 of
this act.
(28) “Sign” means, with present intent to authenticate or adopt
a record:
(A) to execute or adopt a tangible symbol; or
(B) to attach to or logically associate with the record an
electronic symbol, sound, or process.
(29) “State” means a state of the United States, the District
of Columbia, Puerto Rico, the United States Virgin Islands, or any
territory or insular possession subject to the jurisdiction of the
United States.
(30) “Transfer” includes an assignment, conveyance, deed, bill
of sale, lease, mortgage, security interest, encumbrance, gift, and
transfer by operation of law.
(31) “Voting group” means any combination of one or more voting
members in one or more districts or classes that under the organic
rules or the Uniform Limited Cooperative Association Act of 2009 are
entitled to vote and can be counted together collectively on a
matter at a members meeting.
(32) “Voting member” means a member that, under the organic law
or organic rules, has a right to vote on matters subject to vote by
members under the organic law or organic rules.
(33) “Voting power” means the total current power of members to
vote on a particular matter for which a vote may or is to be taken.
of 2009:
(1) “Articles of organization” means the articles of
organization of a limited cooperative association required by
Section 30 of this act. The term includes the articles as amended
or restated.
(2) “Board of directors” means the board of directors of a
limited cooperative association.
(3) “Bylaws” means the bylaws of a limited cooperative
association. The term includes the bylaws as amended or restated.
(4) “Certificate of authority” means a certificate issued by
the Secretary of State for a foreign cooperative to transact
business in this state.
(5) “Contribution”, except as used in subsection (c) of Section
97 of this act, means a benefit that a person provides to a limited
cooperative association to become or remain a member or in the
person’s capacity as a member.
(6) “Cooperative” means a limited cooperative association or an
entity organized under any cooperative law of any jurisdiction.
(7) “Designated office” means the office that a limited
cooperative association or a foreign cooperative is required to
designate and maintain under paragraph (1) of subsection (a) of
Section 17 of this act.
(8) “Director” means a director of a limited cooperative
association.
(9) “Distribution”, except as used in subsection (e) of Section
96 of this act, means a transfer of money or other property from a
limited cooperative association to a member because of the member’s
financial rights or to a transferee of a member’s financial rights.
(10) “Entity” means a person other than an individual.
(11) “Financial rights” means the right to participate in
allocations and distributions as provided in Articles 10 and 12 of
the Uniform Limited Cooperative Association Act of 2009 but does not
include rights or obligations under a marketing contract governed by
Article 7 of the Uniform Limited Cooperative Association Act of
2009.
(12) “Foreign cooperative” means an entity organized in a
jurisdiction other than this state under a law similar to the
Uniform Limited Cooperative Association Act of 2009.
(13) “Governance rights” means the right to participate in
governance of a limited cooperative association.
(14) “Investor member” means a member that has made a
contribution to a limited cooperative association and
(A) is not required by the organic rules to conduct
patronage with the association in the member’s
Oklahoma Statutes - Title 18. Corporations Page 163
capacity as an investor member in order to receive the
member’s interest; or
(B) is not permitted by the organic rules to conduct
patronage with the association in the member’s
capacity as an investor member in order to receive the
member’s interest.
(15) “Limited cooperative association” means an association
organized under the Uniform Limited Cooperative Association Act of
2009.
(16) “Member” means a person that is admitted as a patron
member or investor member, or both, in a limited cooperative
association. The term does not include a person that has
dissociated as a member.
(17) “Member’s interest” means the interest of a patron member
or investor member under Section 57 of this act.
(18) “Members meeting” means an annual members meeting or
special meeting of members.
(19) “Organic law” means the statute providing for the creation
of an entity or principally governing its internal affairs.
(20) “Organic rules” means the articles of organization and
bylaws of a limited cooperative association.
(21) “Organizer” means an individual who signs the initial
articles of organization.
Members meeting” means an annual members meeting or
special meeting of members.
(19) “Organic law” means the statute providing for the creation
of an entity or principally governing its internal affairs.
(20) “Organic rules” means the articles of organization and
bylaws of a limited cooperative association.
(21) “Organizer” means an individual who signs the initial
articles of organization.
(22) “Patron member” means a member that has made a
contribution to a limited cooperative association and:
(A) is required by the organic rules to conduct patronage
with the association in the member’s capacity as a
patron member in order to receive the member’s
interest; or
(B) is permitted by the organic rules to conduct patronage
with the association in the member’s capacity as a
patron member in order to receive the member’s
interest.
(23) “Patronage” means business transactions between a limited
cooperative association and a person which entitle the person to
receive financial rights based on the value or quantity of business
done between the association and the person.
(24) “Person” means an individual, corporation, business trust,
cooperative, estate, trust, partnership, limited partnership,
limited liability company, limited cooperative association, joint
venture, association, public corporation, government or governmental
subdivision, agency, or instrumentality, or any other legal or
commercial entity.
(25) “Principal office” means the principal executive office of
a limited cooperative association or foreign cooperative, whether or
not in this state.
Oklahoma Statutes - Title 18. Corporations Page 164
(26) “Record”, used as a noun, means information that is
inscribed on a tangible medium or that is stored in an electronic or
other medium and is retrievable in perceivable form.
(27) “Required information” means the information a limited
cooperative association is required to maintain under Section 14 of
this act.
(28) “Sign” means, with present intent to authenticate or adopt
a record:
(A) to execute or adopt a tangible symbol; or
(B) to attach to or logically associate with the record an
electronic symbol, sound, or process.
(29) “State” means a state of the United States, the District
of Columbia, Puerto Rico, the United States Virgin Islands, or any
territory or insular possession subject to the jurisdiction of the
United States.
(30) “Transfer” includes an assignment, conveyance, deed, bill
of sale, lease, mortgage, security interest, encumbrance, gift, and
transfer by operation of law.
(31) “Voting group” means any combination of one or more voting
members in one or more districts or classes that under the organic
rules or the Uniform Limited Cooperative Association Act of 2009 are
entitled to vote and can be counted together collectively on a
matter at a members meeting.
(32) “Voting member” means a member that, under the organic law
or organic rules, has a right to vote on matters subject to vote by
members under the organic law or organic rules.
(33) “Voting power” means the total current power of members to
vote on a particular matter for which a vote may or is to be taken.
Status: in_force · Read it on the official government site
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