Bill > SB69

This bill establishes appraisal rights for members of limited liability companies (LLCs) under certain circumstances. Specifically, it allows LLC members to obtain the fair value of their membership interest in the event of a merger or conversion of the LLC, unless certain exceptions apply (e.g., the membership interest is a "covered security" listed on a national exchange). The bill also allows LLCs to modify, restrict, or eliminate these appraisal rights in their operating agreements with the approval of each affected member. The bill further provides procedures for exercising these appraisal rights and becomes effective on November 1, 2019.

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http://www.oklegislature.gov/BillInfo.aspx?Bill=sb69&Session=1900