(1) The board of directors shall elect an executive officer, whom the directors may designate as chairperson of the board or president, a vice chairperson of the board or one or more vice presidents, a treasurer and a secretary. The treasurer and the secretary may be the same individual. The persons that the board of directors elects are the executive officers of the corporation.

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Terms Used In Oregon Statutes 723.276

  • 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.

(2) The terms of the officers are one year, unless the bylaws prescribe a different term. Officers may continue to serve until the successors of the officers are chosen and have duly qualified.

(3) The bylaws must prescribe the duties of the officers. [1975 c.652 § 30; 1987 c.286 § 4; 1991 c.635 § 9; 2009 c.234 § 6; 2013 c.480 § 3; 2019 c.45 § 1; 2023 c.57 § 2]

 

[Amended by 1955 c.550 § 5; 1959 c.106 § 11; 1971 c.681 § 9; repealed by 1975 c.652 § 88]

 

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