Current through Laws 2024, c. 453.
Section 441-807 - Removal of directorUnless the organic rules otherwise provide, the following rules apply:
(1) Members may remove a director with or without cause.(2) A member or members holding at least ten percent (10%) of the total voting power entitled to be voted in the election of a director may demand removal of the director by one or more signed petitions submitted to the officer of the limited cooperative association charged with keeping its records.(3) Upon receipt of a petition for removal of a director, an officer of the association or the board of directors shall: (A) call a special meeting of members to be held not later than ninety (90) days after receipt of the petition by the association; and(B) mail or otherwise transmit or deliver in a record to the members entitled to vote on the removal, and to the director to be removed, notice of the meeting which complies with Section 47 of this act.(4) A director is removed if the votes in favor of removal are equal to or greater than the votes required to elect the director.Okla. Stat. tit. 18, § 441-807
Added by Laws 2009 , HB 2148, c. 68, § 72, eff. 1/1/2010.