Okla. Stat. tit. 18, § 18-441-1210
This is the official text of Okla. Stat. tit. 18, § 18-441-1210, 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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Court proceeding
Official statutory text
COURT PROCEEDING.
(a) Upon application by a dissolved limited cooperative
association that has published a notice under Section 110 of this
act, the district court in the county where the association’s
principal office is located or, if the association does not have a
principal office in this state, where its designated office in this
state is located, may determine the amount and form of security to
be provided for payment of claims against the association that are
contingent, have not been made known to the association, or are
based on an event occurring after the effective date of dissolution
but that, based on the facts known to the association, are
reasonably anticipated to arise after the effective date of
dissolution.
(b) Not later than ten (10) days after filing an application
under subsection (a) of this section, a dissolved limited
cooperative association shall give notice of the proceeding to each
known claimant holding a contingent claim.
(c) The court may appoint a representative in a proceeding
brought under this section to represent all claimants whose
identities are unknown. The dissolved limited cooperative
association shall pay reasonable fees and expenses of the
representative, including all reasonable attorney and expert witness
fees.
(d) Provision by the dissolved limited cooperative association
for security in the amount and the form ordered by the court
satisfies the association’s obligations with respect to claims that
are contingent, have not been made known to the association, or are
based on an event occurring after the effective date of dissolution,
and the claims may not be enforced against a member that received a
distribution.
(a) Upon application by a dissolved limited cooperative
association that has published a notice under Section 110 of this
act, the district court in the county where the association’s
principal office is located or, if the association does not have a
principal office in this state, where its designated office in this
state is located, may determine the amount and form of security to
be provided for payment of claims against the association that are
contingent, have not been made known to the association, or are
based on an event occurring after the effective date of dissolution
but that, based on the facts known to the association, are
reasonably anticipated to arise after the effective date of
dissolution.
(b) Not later than ten (10) days after filing an application
under subsection (a) of this section, a dissolved limited
cooperative association shall give notice of the proceeding to each
known claimant holding a contingent claim.
(c) The court may appoint a representative in a proceeding
brought under this section to represent all claimants whose
identities are unknown. The dissolved limited cooperative
association shall pay reasonable fees and expenses of the
representative, including all reasonable attorney and expert witness
fees.
(d) Provision by the dissolved limited cooperative association
for security in the amount and the form ordered by the court
satisfies the association’s obligations with respect to claims that
are contingent, have not been made known to the association, or are
based on an event occurring after the effective date of dissolution,
and the claims may not be enforced against a member that received a
distribution.
Status: in_force · Read it on the official government site
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