(1) If the Secretary of State determines that one or more grounds exist under ORS § 60.647 for dissolving a corporation, the Secretary of State shall give the corporation written notice of the determination.

Terms Used In Oregon Statutes 60.651

  • 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.
  • Written: means embodied as a document. See Oregon Statutes 60.001

(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 dissolve the corporation.

(3) A corporation administratively dissolved continues the corporation’s corporate existence but may not carry on any activities except activities that are necessary or appropriate to wind up and liquidate the corporation’s business and affairs under ORS § 60.637, and notify claimants under ORS § 60.641 and 60.644.

(4) The administrative dissolution of a corporation does not terminate the authority of the corporation’s registered agent. [1987 c.52 § 147; 1987 c.579 § 6; 1993 c.190 § 2; 2013 c.159 § 3]

 

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