SB1085

Oklahoma SB1085 creates the Uniform Unincorporated Nonprofit Association Act, establishing procedures and requirements for unincorporated nonprofit.

Oklahoma SB1085 introduces the Uniform Unincorporated Nonprofit Association Act, setting forth procedures and requirements for unincorporated nonprofit associations. The bill includes provisions for the enforceability and perfection of security interests, clarifying when such interests remain enforceable and perfected under the new act. It specifies conditions under which a security interest remains enforceable or becomes perfected, particularly focusing on the effective date of the act. The act is codified in the Oklahoma Statutes as Section 1-9-343.1 of Title 12A.