Okla. Stat. tit. 2, § 2-17-13

on membership capital or stock – Surplus or reserve fund –

Undistributed balances.

A. At the time of each dividend apportionment of earnings and

at least once in every year, the directors shall cause to be

prepared a financial statement showing:

1. The financial condition of the corporation at the end of the

period to which such dividend or apportionment relates, in a form as

shall fully exhibit the assets and liabilities of the corporation;

and

2. Its earnings, purchases and sales, expenses and outlays, for

the period covered by the dividend or apportionment, in the manner

Oklahoma Statutes - Title 2. Agriculture Page 627

that a good understanding of the condition of the corporation may be

obtained from the financial statement.

The directors shall cause the financial statement to be kept on file

with the secretary, or such other officer as the directors may

designate. The financial statement may be examined by any member of

the corporation at all reasonable times.

B. The directors, subject to the revision by the members or

stockholders, at any general or special meeting lawfully called

shall apportion the net earnings from time to time at least once in

each year.

C. An association shall limit the interest it pays on

membership capital or stock to an amount not greater than eight

percent (8%) per annum. The apportionment shall not be made until

not less than ten percent (10%) of any undistributed balance

accruing since the last apportionment, has been set aside in a

surplus or reserve fund unless such surplus or reserve funds equal

at least one hundred percent (100%) of the paid up membership fees

or capital stock.

D. 1. Undistributed balances from any source, in excess of

additions to reserves and surplus, shall be distributed on the basis

of patronage, that is according to the amount or value, as the

association may decide, of the products sold to or through, and/or

purchased from or through, the association by its patrons.

2. The distribution of the balances may be restricted to

members or be made at the same rate for members and nonmembers.

3. The bylaws may provide that any distribution to a nonmember,

eligible for membership may be credited to a nonmember until the

amount equals the value of a membership certificate or a share of

the association's common stock.

4. A distribution credited to the account of a nonmember shall

revert to the reserve fund to be used for educational purposes if,

after two (2) years, the amount is less than the value of a

membership certificate or a share of common stock, or in case the

person does not accept and exercise membership privileges.