Oregon Statutes 62.609 – Action on plan of conversion
(1) A plan of conversion shall be approved by the business entity as follows:
Terms Used In Oregon Statutes 62.609
- Articles: means articles of incorporation, articles of conversion or articles of merger. See Oregon Statutes 62.015
- Board: means board of directors. See Oregon Statutes 62.015
- Cooperative: means a cooperative corporation that is subject to the provisions of this chapter. See Oregon Statutes 62.015
(a) In the case of a cooperative, in the manner provided in ORS § 62.619 (1)(a) for mergers; and
(b) In the case of a business entity other than a cooperative, as provided by the statutes governing that business entity.
(2) After a conversion is approved, and at any time before articles of conversion are filed, the planned conversion may be abandoned, subject to any contractual rights:
(a) By a cooperative, without further action by the members or shareholders, in accordance with the procedure set forth in the plan of conversion or, if none is set forth, in the manner determined by the board of directors.
(b) By another business entity that planned to convert to a cooperative, in accordance with the procedure set forth in the plan of conversion or, if none is set forth, in the manner permitted by the statutes governing that business entity. [1999 c.362 § 21]
[1957 c.716 § 43; 1963 c.156 § 3; 1995 c.195 § 39; repealed by 1999 c.362 § 67]