A foreign cooperative which has a member or members residing in this state, and which distributes its proceeds and savings according to either this chapter or the law of the state where incorporated, is entitled to all rights, exemptions and privileges of a cooperative organized under this chapter, if it is authorized to do business in this state under ORS Chapter 60. A foreign cooperative may be authorized under ORS Chapter 60 to transact business in this state whether or not formed for profit and whether or not formed with stock. [1957 c.716 § 61; 1987 c.94 § 96]

Terms Used In Oregon Statutes 62.755

  • Cooperative: means a cooperative corporation that is subject to the provisions of this chapter. See Oregon Statutes 62.015
  • Foreign cooperative: means a cooperative corporation that is organized under laws other than the laws of this state. See Oregon Statutes 62.015
  • Member: means a person that is qualified and accepted for membership in a cooperative. See Oregon Statutes 62.015

 

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