Flexibility for Oklahoma nonprofit corporations

In 2019 the Oklahoma Legislature passed, and the Governor signed into law on April 16, Senate Bill 642, which made numerous and substantial changes to the Oklahoma General Corporation Act (the “Act”) primarily relating to nonprofit and nonstock corporations. The amendments provide favorable corporate governance improvements for Oklahoma nonprofit corporations. They became effective November 1, 2019. Although some nonprofit corporations have taken advantage of the amendments, many have not....
By: McAfee & Taft