Procedure for revocation of election
- • limits on merger
(1) When any employee cooperative revokes its election in accordance with ORS 62.771 (Revocation of election to be governed as employee cooperative), the amendment to the articles of incorporation shall provide for conversion of membership shares and internal capital accounts or their conversion to securities or other property in a manner consistent with this chapter.
(2) An employee cooperative which has not revoked its election under ORS 62.765 (Definitions for ORS 62.765 to 62.792) to 62.792 (Short title) may not merge with another corporation other than an employee cooperative. Two or more employee cooperatives may merge in accordance with this chapter. [1987 c.677 §21; 1995 c.195 §43]
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. Currency Information