Oregon Code § 319.125·Enacted ·Last updated March 01, 2026
Statute Text
Change
of ownership; cancellation of license.
A licensed dealer who has a change of ownership shall notify the Department of
Transportation immediately of the change. Upon notification, the department
shall immediately cancel the motor vehicle fuel dealer license of the dealer.
No license may be issued to any successor of the dealer until the successor
completes an application and certificate and supplies the department with an
adequate bond. For purposes of this section:
(1) In the case
of a corporation with more than 100 stockholders, transfer of stock in normal
trading is not considered a change in ownership.
(2) In the case
of a corporation with 100 or fewer stockholders, transfer of less than 50
percent of the stock in any period of 12 consecutive months is not considered a
change in ownership. [1987 c.610 §21]
Plain English Explanation
This Oregon statute addresses Change
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 319.125
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Change
. Read the full statute text above for details.
This page reflects the current text as of our last update. Always verify with the official Oregon legislature website for the most current version.
The formal citation is Oregon Code § 319.125. Use this format in legal documents and court filings.
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