ORS 707.610
Annual and special stockholder meetings
- notice of orders
(1)
A stockholders’ meeting to elect a board of directors and transact other business must be held in this state within 120 days after the close of the fiscal year of the institution or Oregon stock savings bank. If the Director of the Department of Consumer and Business Services issued an order to the institution or Oregon stock savings bank under ORS 706.580 (Illegal, unauthorized or unsafe practices) within the fiscal year immediately preceding the date of the stockholders’ meeting, the institution or Oregon stock savings bank shall include in every notice required for the stockholders’ meeting under ORS 707.611 (Notice of meeting):(a)
A copy of ORS 706.580 (Illegal, unauthorized or unsafe practices);(b)
A statement that the institution or Oregon stock savings bank received an order or orders from the director; and(c)
A reasonably detailed description of the order or orders.(2)
The chief executive officer, a majority of the board of directors, any other person or group authorized by the articles of incorporation or bylaws of the institution or Oregon stock savings bank to call meetings, or not fewer than three stockholders holding in the aggregate not less than one-third of the outstanding voting stock of the institution or Oregon stock savings bank may call a special meeting of stockholders. The articles of incorporation or bylaws of the institution or Oregon stock savings bank may reserve to an officer or the board of directors the authority to designate the time and place of the meeting, except that the institution or Oregon stock savings bank must hold the meeting in this state. Unless the Director of the Department of Consumer and Business Services consents to a later meeting date, the institution or Oregon stock savings bank shall hold a meeting not later than 60 days after issuing the call for the meeting. [Amended by 1957 c.59 §1; 1967 c.170 §1; 1973 c.797 §84; 1983 c.296 §3; 1985 c.786 §27; 1987 c.177 §1; 1989 c.324 §39; 1997 c.631 §78; 2015 c.244 §27]
Source:
Section 707.610 — Annual and special stockholder meetings; notice of orders, https://www.oregonlegislature.gov/bills_laws/ors/ors707.html.
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