Oklahoma Assignment of Principal Obligation and Guaranty

State:
Multi-State
Control #:
US-1089BG
Format:
Word; 
Rich Text
Instant download

Description

A guaranty is a contract under which one person agrees to pay a debt or perform a duty if the other person who is bound to pay the debt or perform the duty fails to do so. Usually, the party receiving the guaranty will first try to collect or obtain performance from the debtor before trying to collect from the one making the guaranty (guarantor).

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FAQ

The conversion of any entity into a domestic limited liability company shall not be deemed to affect any obligations or liabilities of the entity incurred before its conversion to a domestic limited liability company or the personal liability of any person incurred before the conversion.

A person shall not be deemed to be doing business in this state solely by reason of being a member or manager of a domestic limited liability company or a foreign limited liability company. D.

Every domestic limited liability company and every foreign limited liability company registered to do business in this state shall file a certificate each year in the Office of the Secretary of State, which confirms it is an active business and includes its principal place of business address, and shall pay an annual ...

Any one or more domestic corporations may merge or consolidate with one or more domestic or foreign entities, unless the laws of the jurisdiction or jurisdictions under which such entity or entities are formed prohibit the merger or consolidation.

In summary, the Oklahoma General Corporation Act Oklahoma Statutes Title 18, Chapter 22 provides a comprehensive legal framework to ensure that homeowners associations are able to operate in a fair, transparent, and responsible manner.

PLEASE NOTE: Title 18, O.S., Section 552.4 pertains to persons and organizations that are exempt from the requirement to register with the Secretary of State. Be advised that this office CANNOT make the determination as to whether a person or organization conforms to one of the exemptions listed.

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Oklahoma Assignment of Principal Obligation and Guaranty