Oregon Statutes 65.651 – Procedure for and effect of administrative dissolution
(1) If the Secretary of State determines that one or more grounds exist under ORS § 65.647 for dissolving a corporation, the Secretary of State shall give the corporation written notice of that determination.
Terms Used In Oregon Statutes 65.651
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: means a domestic corporation or a foreign corporation. See Oregon Statutes 65.001
- Notice: means a notice described in ORS § 65. See Oregon Statutes 65.001
- Public benefit corporation: means a domestic corporation that:
(a) Is formed as a public benefit corporation under ORS § 65. See Oregon Statutes 65.001
- Written: means embodied as a document. See Oregon Statutes 65.001
(2) If the corporation does not correct each ground for dissolution or demonstrate to the reasonable satisfaction of the Secretary of State, within 45 days after notice is given, that each of the grounds that the Secretary of State has determined to be a ground for the dissolution does not exist, the Secretary of State shall administratively dissolve the corporation, and in the case of a public benefit corporation shall notify the Attorney General in writing.
(3) A corporation administratively dissolved continues the corporation’s corporate existence but may not carry on any activities except those necessary or appropriate to wind up and liquidate the corporation’s affairs under ORS § 65.637 and notify the corporation’s claimants under ORS § 65.641 and 65.644.
(4) The administrative dissolution of a corporation does not terminate the authority of the corporation’s registered agent. [1989 c.1010 § 139; 1993 c.190 § 6; 2013 c.159 § 11]