Oregon Statutes 60.461 – Amendment or repeal by board of directors or shareholders
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(1) A corporation‘s board of directors may amend or repeal the corporation’s bylaws unless:
Terms Used In Oregon Statutes 60.461
- Articles of incorporation: means the articles described in ORS § 60. See Oregon Statutes 60.001
- 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.
(a) The articles of incorporation or this chapter reserve this power exclusively to the shareholders in whole or in part; or
(b) The shareholders in amending or repealing a particular bylaw provide expressly that the board of directors may not amend or repeal that bylaw.
(2) A corporation’s shareholders may amend or repeal the corporation’s bylaws even though the bylaws may also be amended or repealed by its board of directors. [1987 c.52 § 112]