When you buy with the same UY and title it the same way, it can simply be added to your membership. If it is the same resort, the two contracts will function as one big one. I have 3 contracts at BLT, all with a June UY. One has 130 points, one has 50 points, and one has 30 points. However, because they are the same membership, I can use them as though I had one big 210 point contract.
If you buy another resort, same UY, you can use them like this at the 7 month mark. Prior to that, you can only use those points at their own resort. So, if you bought 50 BLT points to go with your OKW points, only those 50 points could be used at BLT during the 7 - 11 month window.
If you buy an entirely different UY, it becomes a new membership. You will not be able to combine points from both contracts for a single night without doing your once per UY transfer.
Say you have 100 March UY OKW points and buy 50 June UY OKW points and were booking a trip that cost 27 points per night. You could only book 3 nights with contract #1 and 1 night with contract #2, unless you transfer.
If they are the same UY and same membership, you could book 5 nights right from the start.