Oregon Statutes 65.734 – Withdrawal of foreign corporation
(1) A foreign corporation authorized to transact business in this state may apply to the Secretary of State to withdraw from this state. The application must set forth:
Terms Used In Oregon Statutes 65.734
- 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.
- Corporation: means a domestic corporation or a foreign corporation. See Oregon Statutes 65.001
- Foreign corporation: means a corporation that is organized under laws other than the laws of the state and that would be a nonprofit corporation if organized under the laws of the state. See Oregon Statutes 65.001
- Person: means an individual or an entity. See Oregon Statutes 65.001
- Proceeding: means a civil, criminal, administrative or investigatory action. See Oregon Statutes 65.001
- Service of process: The service of writs or summonses to the appropriate party.
(a) The name of the foreign corporation and the name of the state or country under whose law the foreign corporation is incorporated;
(b) That the foreign corporation is not transacting business in this state and that the foreign corporation surrenders the foreign corporation’s authority to transact business in this state;
(c) That the foreign corporation revokes the authority of the foreign corporation’s registered agent to accept service on the foreign corporation’s behalf and appoints the Secretary of State as the foreign corporation’s agent for service of process in any proceeding based on a cause of action arising during the time the foreign corporation was authorized to transact business in this state;
(d) A mailing address to which the person initiating any proceedings may mail to the foreign corporation a copy of any process served on the Secretary of State under paragraph (c) of this subsection; and
(e) A commitment to notify the Secretary of State for a period of five years from the date of withdrawal of any change in the mailing address.
(2) After the Secretary of State files the application to withdraw, the authority of the foreign corporation to transact business in this state ceases. [1989 c.1010 § 157; 2019 c.174 § 104]
(Administrative Revocation of Authority)