Okla. Stat. tit. 18, § 18-441-1607
This is the official text of Okla. Stat. tit. 18, § 18-441-1607, 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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Notice and action on plan of merger by constituent
Official statutory text
limited cooperative association.
NOTICE AND ACTION ON PLAN OF MERGER BY CONSTITUENT LIMITED
COOPERATIVE ASSOCIATION.
(a) For a limited cooperative association to merge with another
entity, a plan of merger must be approved by a majority vote of the
board of directors or a greater percentage if required by the
association’s organic rules.
(b) The board of directors shall call a members meeting to
consider a plan of merger approved by the board, hold the meeting
not later than ninety (90) days after approval of the plan by the
board, and mail or otherwise transmit or deliver in a record to each
member:
(1) The plan of merger, or a summary of the plan and a
statement of the manner in which a copy of the plan in a record may
be reasonably obtained by a member;
(2) A recommendation that the members approve the plan of
merger, or if the board determines that because of conflict of
interest or other special circumstances it should not make a
favorable recommendation, the basis for that determination;
(3) A statement of any condition of the board’s submission of
the plan of merger to the members; and
(4) Notice of the meeting at which the plan of merger will be
considered, which must be given in the same manner as notice of a
special meeting of members.
NOTICE AND ACTION ON PLAN OF MERGER BY CONSTITUENT LIMITED
COOPERATIVE ASSOCIATION.
(a) For a limited cooperative association to merge with another
entity, a plan of merger must be approved by a majority vote of the
board of directors or a greater percentage if required by the
association’s organic rules.
(b) The board of directors shall call a members meeting to
consider a plan of merger approved by the board, hold the meeting
not later than ninety (90) days after approval of the plan by the
board, and mail or otherwise transmit or deliver in a record to each
member:
(1) The plan of merger, or a summary of the plan and a
statement of the manner in which a copy of the plan in a record may
be reasonably obtained by a member;
(2) A recommendation that the members approve the plan of
merger, or if the board determines that because of conflict of
interest or other special circumstances it should not make a
favorable recommendation, the basis for that determination;
(3) A statement of any condition of the board’s submission of
the plan of merger to the members; and
(4) Notice of the meeting at which the plan of merger will be
considered, which must be given in the same manner as notice of a
special meeting of members.
Status: in_force · Read it on the official government site
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