eLaws | eCases | Oklahoma Administrative Code | Oklahoma Courts | Counties & Cities of Oklahoma | United States Code |
 Oklahoma Statutes (Last Updated: September 18, 2014)
 Title 18. CORPORATIONS

  § 18-441-817. Committees.  

Latest version.

  • COMMITTEES.

    (a)  Unless the organic rules otherwise provide, a board of directors may create one or more committees and appoint one or more individuals to serve on a committee.

    (b)  Unless the organic rules otherwise provide, an individual appointed to serve on a committee of a limited cooperative association need not be a director or member.

    (c)  An individual who is not a director and is serving on a committee has the same rights, duties, and obligations as a director serving on the committee.

    (d)  Unless the organic rules otherwise provide, each committee of a limited cooperative association may exercise the powers delegated to it by the board of directors, but a committee may not:

    (1)  Approve allocations or distributions except according to a formula or method prescribed by the board of directors;

    (2)  Approve or propose to members action requiring approval of members; or

    (3)  Fill vacancies on the board of directors or any of its committees.

Added by Laws 2009, c. 68, § 82, eff. Jan. 1, 2010.