2017 ORS 60.804¹
Applicability of ORS 60.801 to 60.816

(1) An issuing public corporation shall be subject to ORS 60.801 (Definitions for ORS 60.801 to 60.816) to 60.816 (Short title) unless the corporation’s articles of incorporation or bylaws provide that ORS 60.801 (Definitions for ORS 60.801 to 60.816) to 60.816 (Short title) do not apply to acquisitions of its voting shares. After a corporation’s articles of incorporation or bylaws are amended to provide that ORS 60.801 (Definitions for ORS 60.801 to 60.816) to 60.816 (Short title) do not apply to acquisitions of its voting shares, any voting shares that were control shares prior to the amendment shall cease to be considered control shares.

(2) An issuing public corporation whose articles of incorporation or bylaws provide that it is not subject to ORS 60.801 (Definitions for ORS 60.801 to 60.816) to 60.816 (Short title) may, at any time, amend its articles of incorporation or bylaws in accordance with ORS 60.431 (Authority) to 60.467 (Bylaw increasing quorum or voting requirement for directors) to remove the provision and become subject to ORS 60.801 (Definitions for ORS 60.801 to 60.816) to 60.816 (Short title).

(3) Any amendment to the articles of incorporation or bylaws of an issuing public corporation relating to whether or not the corporation is subject to ORS 60.801 (Definitions for ORS 60.801 to 60.816) to 60.816 (Short title) that is adopted or approved by the shareholders must be adopted or approved by holders of voting shares with at least a majority of the votes entitled to be cast by holders of voting shares in addition to any other vote that may be required by statute or the articles of incorporation.

(4) Upon request by any person, a corporation shall inform the person whether or not the corporation’s articles of incorporation or bylaws provide that ORS 60.801 (Definitions for ORS 60.801 to 60.816) to 60.816 (Short title) do not apply to acquisitions of its voting shares. [1989 c.4 §2; 1991 c.7 §2]

Note: See note under 60.801 (Definitions for ORS 60.801 to 60.816).

Law Review Cita­tions

30 WLR 223 (1994)

Chapter 60

Notes of Decisions

In General

Owner of corporate shares that does not meet defini­tion for “shareholder” does not have statutorily created inspec­tion rights. Yeoman v. Public Safety Center, Inc., 241 Or App 255, 250 P3d 411 (2011), Sup Ct review denied

Atty. Gen. Opinions

Under Former Similar Statutes (Ors Chapter 58)

This chapter as authorizing partnership of corpora­tion and individual; validity of partnership between a private corpora­tion and an individual when corpora­tion charter so provides, (1972) Vol 36, p 94

Law Review Cita­tions

Under Former Similar Statutes (Ors Chapter 57)

18 WLR 123 (1982)

In General

24 WLR 203, 257, 275 (1988); 30 WLR 407 (1994)

1 Legislative Counsel Committee, CHAPTER 60—Private Corporations, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors060.­html (2017) (last ac­cessed Mar. 30, 2018).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2017, Chapter 60, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano060.­html (2017) (last ac­cessed Mar. 30, 2018).
 
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent.