Statutes, codes, and regulations
Oklahoma Statutes
Title 2 - AGRICULTUREChapter 1 - AGRICULTURAL CODEArticle 15 - AGRICULTURAL FAIRS AND EXPOSITIONS
GENERAL PROVISIONS
Section 15-2 - Limitation on indebtedness - Purchase of realty - Mortgages - Directors' liability

Okla. Stat. tit. 2 § 15-2

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Current through Laws 2024, c. 453.
Section 15-2 - Limitation on indebtedness - Purchase of realty - Mortgages - Directors' liability

Agricultural Fair Corporations shall not contract any debts or liabilities in excess of the amount of money in the treasury at the time of contract except for the purchase of real property, for which they may create a debt not exceeding Three Thousand Dollars ($3,000.00), secured by mortgage on the property of the corporation. The directors of any Agricultural Fair Corporation who vote therefor shall be personally liable for any debt contracted or incurred in violation of this section.

Okla. Stat. tit. 2, § 15-2

R.L. 1910, § 23; Amended by Laws 2001 , HB 1378, c. 146, § 147, emerg. eff. 4/30/2001; Renumbered from 2 O.S. § 32 by Laws 2001, HB 1378, c. 146 § 267, emerg. eff. 4/30/2001.