Oregon Statutes 60.384 – Contract right of officers
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(1) The appointment of an officer does not itself create contract rights.
Terms Used In Oregon Statutes 60.384
- Contract: A legal written agreement that becomes binding when signed.
- 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.
(2) Removal or resignation of an officer does not affect the contract rights, if any, of the corporation or the officer. [1987 c.52 § 93]
(Indemnification)