Private Corporations

ORS 60.407
Indemnification of officers, employees and agents


Unless a corporation’s articles of incorporation provide otherwise:

(1)

An officer of the corporation is entitled to mandatory indemnification under ORS 60.394 (Mandatory indemnification), and is entitled to apply for court-ordered indemnification under ORS 60.401 (Court-ordered indemnification), in each case to the same extent as a director under ORS 60.394 (Mandatory indemnification) and 60.401 (Court-ordered indemnification).

(2)

The corporation may indemnify and advance expenses under ORS 60.387 (Definitions for ORS 60.387 to 60.414) to 60.411 (Insurance) to an officer, employee or agent of the corporation to the same extent as to a director. [1987 c.52 §100]
Chapter 60

Notes of Decisions

In General

Owner of corporate shares that does not meet definition for "shareholder" does not have statutorily created inspection rights. Yeoman v. Public Safety Center, Inc., 241 Or App 255, 250 P3d 411 (2011), Sup Ct review denied

Atty. Gen. Opinions

Under Former Similar Statutes (Ors Chapter 58)

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

Law Review Citations

Under Former Similar Statutes (Ors Chapter 57)

18 WLR 123 (1982)

In General

24 WLR 203, 257, 275 (1988); 30 WLR 407 (1994)


Source

Last accessed
Jun. 26, 2021