Oregon Statutes 60.701 – Authority to transact business required
(1) A foreign corporation may not transact business in this state until it has been authorized to do so by the Secretary of State.
Terms Used In Oregon Statutes 60.701
- 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.
- Personal property: All property that is not real property.
- Proceeding: means a civil, criminal, administrative or investigatory action. See Oregon Statutes 60.001
(2) The following activities among others, do not constitute transacting business within the meaning of subsection (1) of this section:
(a) Maintaining, defending or settling any proceeding.
(b) Holding meetings of the board of directors or shareholders or carrying on other activities concerning internal corporate affairs.
(c) Maintaining bank accounts.
(d) Maintaining offices or agencies for the transfer, exchange and registration of the corporation’s own securities or maintaining trustees or depositaries with respect to those securities.
(e) Selling through independent contractors.
(f) Soliciting or obtaining orders, whether by mail or through employees or agents or otherwise, if the orders require acceptance outside this state before they become contracts.
(g) Creating or acquiring indebtedness, mortgages and security interests in real or personal property.
(h) Securing or collecting debts or enforcing mortgages and security interests in property securing the debts.
(i) Owning without more real or personal property.
(j) Conducting an isolated transaction that is completed within 30 days and is not one in the course of repeated transactions of a like nature.
(k) Transacting business in interstate commerce.
(3) The list of activities in subsection (2) of this section is not exhaustive. [1987 c.52 § 155]