Oregon Statutes 60.752 – Application of benefit company laws
(1) Except as otherwise provided in ORS § 60.750 to 60.770, ORS § 60.750 to 60.770 apply to:
Terms Used In Oregon Statutes 60.752
- 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) A corporation that states in the corporation’s articles of incorporation or articles of conversion that the corporation is subject to ORS § 60.750 to 60.770;
(b) A limited liability company that states in the limited liability company’s articles of organization or articles of conversion that the limited liability company is subject to ORS § 60.750 to 60.770; or
(c) A corporation or limited liability company that elects to become a benefit company under ORS § 60.754.
(2)(a) Except as provided in paragraph (c) of this subsection, a benefit company that is a corporation incorporated under ORS Chapter 60 is subject to ORS Chapter 60 and to ORS § 60.750 to 60.770.
(b) Except as provided in paragraph (c) of this subsection, a benefit company that is a limited liability company organized under ORS Chapter 63 is subject to ORS Chapter 63 and to ORS § 60.750 to 60.770.
(c) To the extent that a provision of ORS § 60.750 to 60.770 conflicts with a provision of ORS Chapter 60 or 63, a specific provision of ORS § 60.750 to 60.770 controls over a general provision of ORS Chapter 60 or 63.
(3) ORS § 60.750 to 60.770 do not apply to a corporation that is not a benefit company or to a limited liability company that is not a benefit company. [2013 c.269 § 2]
See note under 60.750.