A cooperative organized with capital stock may pay a dividend upon capital stock as is authorized by its articles. A payment under this section shall not be made if the result of the payment would be to bring the value of the cooperative’s remaining assets below the aggregate of the cooperative’s indebtedness. [1957 c.716 § 18; 1995 c.195 § 5]

Terms Used In Oregon Statutes 62.225

  • Articles: means articles of incorporation, articles of conversion or articles of merger. See Oregon Statutes 62.015
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Cooperative: means a cooperative corporation that is subject to the provisions of this chapter. See Oregon Statutes 62.015

 

[Repealed by 1957 c.716 § 76]

 

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