Okla. Stat. tit. 18 § 441-1301

Current through Laws 2024, c. 453.

Section 441-1301 - 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.

Okla. Stat. tit. 18, § 441-1301

Added by Laws 2009 , HB 2148, c. 68, § 117, eff. 1/1/2010.