Oregon Revised Statutes Chapter 30 § 30.580 — Action

Action to annul corporate existence on leave of court. An action may be maintained in the name of the state against a corporation, other than a public one, on leave granted by the court or judge thereof where the action is triable, for the purpose of avoiding the charter or annulling the existence of such corporation, whenever it shall: (1) Offend against any of the provisions of an Act creating, renewing, or modifying such corporation, or the provisions of any general law under which it became incorporated; (2) Violate the provisions of any law, by which such corporation forfeits its charter, by abuse of its powers; (3) Whenever it has forfeited its privileges or franchises, by failure to exercise its powers; (4) Whenever it has done or omitted any act, which amounts to a surrender of its corporate rights, privileges and franchises; or, (5) Whenever it exercises a franchise or privilege not conferred upon it by law.