Oklahoma § 18-552.24 - Notice to Attorney General before certain events —

§ 18-552.24. Notice to Attorney General before certain events —

Notice to charitable organizations of objections by Attorney

General.

A. The requirements of this section shall only apply to a

charitable organization that:

1. Is incorporated, organized, or has its principal place of

business in this state, or has assets located in this state with a

fair market value in excess of Five Hundred Thousand Dollars

($500,000.00); and

2. Has engaged in solicitation of contributions in this state

for a period of one (1) year.

B. A charitable organization required to register under Section

552.3 of Title 18 of the Oklahoma Statutes shall give written notice

to the Attorney General no later than forty-five (45) days before

any of the following events:

1. Dissolution of the charitable organization;

2. Termination of the charitable organization;

3. Disposition by the charitable organization of all or

substantially all of the charitable assets of the charitable

organization;

Oklahoma Statutes - Title 18. Corporations

4. Removal of the charitable organization from the jurisdiction

of this state;

5. Removal of all or substantially all charitable assets of the

charitable organization from this state; or

6. An amendment of the governing document that describes the

charitable purposes of the charitable organization and the use and

administration of charitable assets held by the charitable

organization.

Such events shall not include a grant or other donation by a

charitable organization in the ordinary course of its operation and

consistent with its past practice.

C. A charitable organization required to register under Section

552.3 of Title 18 of the Oklahoma Statutes shall give written notice

to the Attorney General no later than forty-five (45) days before

the consummation of a merger, consolidation, or conversion of the

charitable organization.

D. A transfer of a charitable asset in connection with an event

described in subsection B or C of this section which occurs earlier

than forty-five (45) days after giving the notice required in

subsection B or C of this section shall be a violation of this

section unless before the transfer, the charitable organization

receives written consent from the Attorney General to the event or

written notice from the Attorney General that the Attorney General

will take no action related to the event.

E. A charitable organization required to register under Section

552.3 of Title 18 of the Oklahoma Statutes shall give written notice

to the Attorney General no later than twenty (20) days after receipt

of a notice of revocation, modification, or denial of its federal

charitable income tax exemption.

F. In reviewing any event for which notice is required under

subsection B or C of this section, the Attorney General shall

consider, among other relevant factors as determined by the Attorney

General, the value of the assets or interests transferred, the

person or entity to which such transfer is made, the purpose of the

transfer, the source of the assets, whether the assets consist of

donated funds or property, the donors’ intent to the extent it can

be determined, and any expression of support by the board of

directors and the voting members of the charitable organization that

proposes to make the transfer.

G. If the Attorney General objects to any event for which

notice is required under subsection B or C of this section, the

Attorney General shall give written notice to the charitable

organization of the objection. Either the Attorney General or the

charitable organization may file an action with the district court

of the county in which the charitable organization is located to

obtain a review by such district court of the objection of the

Attorney General.

Oklahoma Statutes - Title 18. Corporations

Added by Laws 2023, c. 313, § 1, eff. Nov. 1, 2023.