ORS 58.389
Price for purchase or redemption of shares of disqualified or deceased shareholder

If the articles of incorporation or bylaws of a professional corporation organized for the purpose of practicing medicine do not provide a price or method of determining a price at which the corporation may purchase or redeem the shares, or at which its shareholders may purchase the shares, of a legally disqualified or deceased shareholder, and the corporation and shareholders or the shareholders have not provided the price or a method of determining the price by private agreement, then the price for the shares shall be the book value as of the end of the month preceding the disqualification or death of the shareholder, payable in cash or on such other terms as may be agreed to by the parties. Book value shall be determined from the books and records of the corporation in accordance with the regular method of accounting used by the corporation. [1997 c.774 §24]

Source: Section 58.389 — Price for purchase or redemption of shares of disqualified or deceased shareholder, https://www.­oregonlegislature.­gov/bills_laws/ors/ors058.­html.

58.005
Short title 58.015
Definitions 58.035
Application to persons licensed to render professional services 58.037
Application to joint and several liability of shareholders of corporation organized under ORS chapter 60 for purpose of rendering professional services 58.045
Application of general corporation law and merger and conversion provisions 58.048
When appearance by attorney not required 58.076
Purposes for which professional corporation may be organized 58.085
Who may incorporate 58.087
When restatement of articles of incorporation required 58.101
Term of office for directors 58.115
Corporate name 58.129
Requirements to transact business in this state 58.134
Application for authority to transact business 58.136
Amended application for authority to transact business 58.141
Rights and duties of foreign professional corporation and shareholders 58.156
Method by which professional corporation to render services 58.165
Fees collected by corporation 58.185
Liabilities of employees, shareholders and the corporation 58.187
Revision of limitations on liability in ORS 58.185 to reflect inflation or deflation 58.196
Limits on merger 58.205
Corporation prohibited from doing acts prohibited to professional licensee 58.225
Annual reports 58.300
Redemption of shares 58.325
Application to professional licensing agencies 58.335
Filing of documents with professional licensing agency 58.345
Registration and renewal with professional licensing agency 58.355
Suspension, revocation or refusal of certificate of registration 58.365
Oregon State Bar as regulating board for attorneys 58.367
Authority of regulatory board to establish rules affecting professional corporation 58.369
Application of chapter to practice of dentistry 58.375
Requirements for professional corporations organized to practice medicine 58.376
Requirements for professional corporations organized to render professional health care services 58.377
Transferee of shares 58.379
Powers of professional corporation organized to practice medicine 58.381
Proxies 58.383
Issuance, sale, transfer and redemption of shares 58.385
Disqualification of physician 58.387
Disposition of shares of deceased shareholder 58.389
Price for purchase or redemption of shares of disqualified or deceased shareholder 58.400
Filing requirements 58.410
Filing, service, copying and certification fees 58.420
Effective time and date of document 58.430
Correcting filed document 58.440
Forms 58.450
Filing duty of Secretary of State 58.455
Penalty for signing false document 58.460
Appeal from Secretary of State’s refusal to file document 58.470
Evidentiary effect of copy of filed document 58.480
Certificate of existence or authorization 58.490
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Current through early 2024

§ 58.389’s source at oregon​.gov