ORS 60.137

Known as the Oregon Business Corporation Act

The act spans §§ 60–60 (245 sections).

Applied in 1 court decision — leading case 241 Or. App. 255 - Yeoman v. PUBLIC SAFETY CENTER, INC. (2011)

Most recently applied in 241 Or. App. 255 - Yeoman v. PUBLIC SAFETY CENTER, INC. (March 2011)

1987 c.52 §35

(1) A corporation may issue the number of shares of each class or series authorized by the articles of incorporation. Shares that are issued are outstanding shares until they are reacquired, redeemed, converted or canceled.

(2) The reacquisition, redemption or conversion of outstanding shares is subject to the limitations of subsection (3) of this section and ORS 60.177 and 60.181.

(3) At all times that shares of the corporation are outstanding, one or more shares that together have unlimited voting rights and one or more shares that together are entitled to receive the net assets of the corporation upon dissolution must be outstanding.

Official source: Oregon State Legislature. Reproduced from public-domain Oregon statutes; confirm against the official source for the current text. Not legal advice.