Oregon Statutes 60.567 – Dissenters notice
(1) If a proposed corporate action that creates dissenters’ rights under ORS § 60.554 is authorized at a shareholders’ meeting, the corporation shall deliver a written dissenters’ notice to all shareholders who satisfied the requirements of ORS § 60.564. If a proposed corporate action that creates dissenters’ rights under ORS § 60.554 is authorized by written consent without a meeting in accordance with ORS § 60.211 (1)(b), the corporation shall deliver a written dissenters’ notice to all shareholders who are entitled to assert dissenters’ rights.
Terms Used In Oregon Statutes 60.567
- 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.
- Person: means an individual or entity. See Oregon Statutes 60.001
- Written: means embodied as a document. See Oregon Statutes 60.001
(2) The dissenters’ notice must be sent no later than 10 days after the corporate action was taken, and must:
(a) State where the payment demand must be sent and where and when certificates for certificated shares must be deposited.
(b) Inform holders of uncertificated shares to what extent transfer of the shares will be restricted after the payment demand is received.
(c) Supply a form for demanding payment that includes the date of the first announcement of the terms of the proposed corporate action to news media or to shareholders and requires that the person asserting dissenters’ rights certify whether or not the person acquired beneficial ownership of the shares before that date.
(d) Set a date by which the corporation must receive the payment demand. This date may not be fewer than 30 nor more than 60 days after the date on which the notice described in subsection (1) of this section is delivered.
(e) Be accompanied by a copy of ORS § 60.551 to 60.594. [1987 c.52 § 129; 2015 c.28 § 7]