Professional Corporations

ORS 58.101
Term of office for directors

  • classes


(1)

Notwithstanding ORS 60.314 (Terms of directors generally), the articles of incorporation or bylaws of a professional corporation may specify any length for the term of office of director.

(2)

If the articles of incorporation or bylaws specify a length for the term of office of director other than that provided in ORS 60.314 (Terms of directors generally), the bylaws may divide the directors into classes and may assign to each class a different initial term of office so that the terms of office of the classes expire at staggered intervals. Each class shall be as nearly equal in number as possible. At the annual meeting at the time of which the term of office of the directors in a class expires, the number of directors equal to the number of the class whose term expires at the time of the meeting shall be elected to hold office for the term specified in the articles of incorporation or bylaws. [1983 c.172 §2; 1987 c.94 §16]
Chapter 58

Notes of Decisions

Professional legal corporation organized under this chapter may not serve as trustee. Erwin & Erwin v. Bronson, 117 Or App 443, 844 P2d 269 (1992), Sup Ct review denied

Atty. Gen. Opinions

This chapter as authorizing partnership of corporation and individual; validity of partnership between a professional corporation and an individual when corporation charter so provides, (1972) Vol 36, p 94

Law Review Citations

24 WLR 717 (1988)


Source

Last accessed
Jun. 26, 2021