NAME.
(a) Use of the term “cooperative” or its abbreviation under the Uniform Limited Cooperative Association Act of 2009 is not a violation of the provisions restricting the use of the term under Section 435 of Title 18 of the Oklahoma Statutes.
(b) The name of a limited cooperative association must contain the words “limited cooperative association” or “limited cooperative” or the abbreviation “L.C.A.” or “LCA”. “Limited” may be abbreviated as “Ltd.”. “Cooperative” may be abbreviated as “Co-op” or “Coop”. “Association” may be abbreviated as “Assoc.” or “Assn.” A limited cooperative association or a member may enforce the restrictions on the use of the term “cooperative” under the Uniform Limited Cooperative Association Act of 2009 and Section 435 of Title 18 of the Oklahoma Statutes.
(c) Except as otherwise provided in subsection (d) of this section, a limited cooperative association may use only a name that is available. A name is available if it is distinguishable in the records of the Secretary of State from:
(1) The name of any entity organized or authorized to transact business in this state;
(2) A name reserved under Section 12 of this act; and
(3) An alternative name approved for a foreign cooperative authorized to transact business in this state.
(d) A limited cooperative association may apply to the Secretary of State for authorization to use a name that is not available. The Secretary of State shall authorize use of the name if:
(1) The person with ownership rights to use the name consents in a record to the use and applies in a form satisfactory to the Secretary of State to change the name used or reserved to a name that is distinguishable upon the records of the Secretary of State from the name applied for; or
(2) The applicant delivers to the Secretary of State a certified copy of the final judgment of a court establishing the applicant’s right to use the name in this state.
Added by Laws 2009, c. 68, § 11, eff. Jan. 1, 2010.
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