Okla. Stat. tit. 18, § 18-441-1301
This is the official text of Okla. Stat. tit. 18, § 18-441-1301, 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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Derivative action
Official statutory text
DERIVATIVE ACTION. A member may maintain a derivative action to
enforce a right of a limited cooperative association if:
(1) The member demands that the association bring an action to
enforce the right; and
(2) Any of the following occur:
(A) the association does not, within ninety (90) days
after the member makes the demand, agree to bring the
action;
(B) the association notifies the member that it has
rejected the demand;
(C) irreparable harm to the association would result by
waiting ninety (90) days after the member makes the
demand; or
(D) the association agrees to bring an action demanded and
fails to bring the action within a reasonable time.
enforce a right of a limited cooperative association if:
(1) The member demands that the association bring an action to
enforce the right; and
(2) Any of the following occur:
(A) the association does not, within ninety (90) days
after the member makes the demand, agree to bring the
action;
(B) the association notifies the member that it has
rejected the demand;
(C) irreparable harm to the association would result by
waiting ninety (90) days after the member makes the
demand; or
(D) the association agrees to bring an action demanded and
fails to bring the action within a reasonable time.
Status: in_force · Read it on the official government site
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