Private Corporations

ORS 60.641
Known claims against dissolved corporation


(1)

A dissolved corporation may dispose of the known claims against it by following the procedure described in this section.

(2)

The dissolved corporation shall notify its known claimants in writing of the dissolution at any time after its effective date. The written notice must:

(a)

Describe information that must be included in a claim;

(b)

Provide a mailing address where a claim may be sent;

(c)

State the deadline, which may not be fewer than 120 days from the effective date of the written notice, by which the dissolved corporation must receive the claim; and

(d)

State that the claim will be barred if not received by the deadline.

(3)

A claim against the dissolved corporation is barred:

(a)

If a claimant who was given written notice under subsection (2) of this section does not deliver the claim to the dissolved corporation by the deadline; or

(b)

If a claimant whose claim was rejected by the dissolved corporation does not commence a proceeding to enforce the claim within 90 days from the effective date of the rejection notice.

(4)

For purposes of this section, “claim” does not include a contingent liability or a claim based on an event occurring after the effective date of dissolution. [1987 c.52 §144]
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