Cooperatives

ORS 62.609
Action on plan of conversion


(1)

A plan of conversion shall be approved by the business entity as follows:

(a)

In the case of a cooperative, in the manner provided in ORS 62.619 (Action on plan of merger) (1)(a) for mergers; and

(b)

In the case of a business entity other than a cooperative, as provided by the statutes governing that business entity.

(2)

After a conversion is approved, and at any time before articles of conversion are filed, the planned conversion may be abandoned, subject to any contractual rights:

(a)

By a cooperative, without further action by the members or shareholders, in accordance with the procedure set forth in the plan of conversion or, if none is set forth, in the manner determined by the board of directors.

(b)

By another business entity that planned to convert to a cooperative, in accordance with the procedure set forth in the plan of conversion or, if none is set forth, in the manner permitted by the statutes governing that business entity. [1999 c.362 §21]
Chapter 62

Atty. Gen. Opinions

Homestead as applied to a shareholder-tenant in a cooperative apartment, (1971) Vol 35, p 897


Source

Last accessed
Jun. 26, 2021