Oklahoma § 18-438.23 - Operation for mutual benefit - Disposition of receipts
Full text of Oklahoma Oklahoma Statutes § 18-438.23 — Operation for mutual benefit - Disposition of receipts, with citation guidance and answers to common questions.
§ 18-438.23. Operation for mutual benefit - Disposition of receipts
and revenues.
A cooperative shall be operated on a nonprofit basis for the
mutual benefit of its members and patrons. The bylaws of a
cooperative or its contracts with members and patrons shall contain
such provisions relative to the disposition of revenues and receipts
as may be necessary and appropriate to establish and maintain its
nonprofit and cooperative character. In the case of a cooperative
authorized to issue shares of stock, such bylaws or contracts shall
provide that no monies shall be paid or credits given on the basis
of patronage except after the declaration or payment of dividends on
the outstanding shares of stock in accordance with the articles of
incorporation of the cooperative, and such bylaws or contracts shall
otherwise be consistent with the cooperative's obligations in
respect of such shares of stock.
Laws 1953, p. 492, § 23.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 18-438.23
What does Oklahoma Statutes § 18-438.23 cover?
Section 18-438.23 ("Operation for mutual benefit - Disposition of receipts") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 18-438.23?
A common citation format is "Oklahoma Statutes § 18-438.23" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 18-438.23 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.