(1) A board of directors must consist of one or more individuals, with the number specified in or fixed in accordance with the articles of incorporation or bylaws. Notwithstanding ORS § 60.001 (22), the estate of an incompetent individual or a deceased individual may not be a director.

Terms Used In Oregon Statutes 60.307

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Articles of incorporation: means the articles described in ORS § 60. See Oregon Statutes 60.001
  • Individual: means a natural person or the estate of an incompetent individual or a deceased individual. See Oregon Statutes 60.001

(2) The number of directors may be increased or decreased from time to time by amendment to, or in the manner provided in, the articles of incorporation or the bylaws.

(3) Directors are elected at the first annual shareholders’ meeting and at each annual meeting thereafter unless the directors’ terms are staggered under ORS § 60.317. [1987 c.52 § 70; 2003 c.80 § 10; 2013 c.158 § 22; 2013 c.274 § 6; 2017 c.55 § 11]

 

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