Current through Laws 2024, c. 453.
Section 441-803 - Qualifications of directors(a) Unless the organic rules otherwise provide, and subject to subsection (c) of this section, each director of a limited cooperative association must be an individual who is a member of the association or an individual who is designated by a member that is not an individual for purposes of qualifying and serving as a director. Initial directors need not be members.(b) Unless the organic rules otherwise provide, a director may be an officer or employee of the limited cooperative association.(c) If the organic rules provide for nonmember directors, the number of nonmember directors may not exceed:(1) One, if there are two through four directors;(2) Two, if there are five through eight directors; or(3) One-third (1/3) of the total number of directors if there are at least nine directors.(d) The organic rules may provide qualifications for directors in addition to those in this section.Okla. Stat. tit. 18, § 441-803
Added by Laws 2009 , HB 2148, c. 68, § 68, eff. 1/1/2010.