Okla. Stat. tit. 18, § 18-441-804

This is the official text of Okla. Stat. tit. 18, § 18-441-804, 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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Election of directors and composition of board

Official statutory text

ELECTION OF DIRECTORS AND COMPOSITION OF BOARD.

(a) Unless the organic rules require a greater number:

(1) The number of directors that must be patron members may not

be fewer than:

(A) one, if there are two or three directors;

(B) two, if there are four or five directors;

(C) three, if there are six through eight directors; or

(D) one-third (1/3) of the directors if there are at least

nine directors; and

(2) A majority of the board of directors must be elected

exclusively by patron members.

(b) Unless the organic rules otherwise provide, if a limited

cooperative association has investor members, the directors who are

not elected exclusively by patron members are elected by the

investor members.

(c) Subject to subsection (a) of this section, the organic

rules may provide for the election of all or a specified number of

directors by one or more districts or classes of members.

(d) Subject to subsection (a) of this section, the organic

rules may provide for the nomination or election of directors by

districts or classes, directly or by district delegates.

(e) If a class of members consists of a single member, the

organic rules may provide for the member to appoint a director or

directors.

(f) Unless the organic rules otherwise provide, cumulative

voting for directors is prohibited.

Oklahoma Statutes - Title 18. Corporations Page 198

(g) Except as otherwise provided by the organic rules,

subsection (e) of this section, or Sections 31, 55, 56 and 74 of

this act, member directors must be elected at an annual members

meeting.

Status: in_force · Read it on the official government site

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