ORS 60.307

Known as the Oregon Business Corporation Act

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

Applied in 1 court decision — leading case Necanicum Investment Co. v. Employment Department (2008)

Most recently applied in Necanicum Investment Co. v. Employment Department (July 2008)

1987 c.52 §70; 2003 c.80 §10; 2013 c.158 §22; 2013 c.274 §6; 2017 c.55 §11

(1) A board of directors must consist of one or more individuals, with the number specified in or fixed in accordance with the articles of incorporation or bylaws. Notwithstanding ORS 60.001 (22), the estate of an incompetent individual or a deceased individual may not be a director.

(2) The number of directors may be increased or decreased from time to time by amendment to, or in the manner provided in, the articles of incorporation or the bylaws.

(3) Directors are elected at the first annual shareholders’ meeting and at each annual meeting thereafter unless the directors’ terms are staggered under ORS 60.317.

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