Statute Text
General
powers.
Unless its
articles of incorporation provide otherwise, every corporation has perpetual
duration and succession in its corporate name and has the same powers as an
individual to do all things necessary or convenient to carry out its affairs,
including, without limitation, power to:
(1) Sue and be
sued, complain and defend in its corporate name.
(2) Have a
corporate seal, which may be altered at will, and to use it, or a facsimile of
it, by impressing or affixing or reproducing it in any other manner.
(3) Make and
amend bylaws not inconsistent with its articles of incorporation or with the
laws of this state, for regulating and managing the affairs of the corporation.
(4) Purchase,
take by gift, devise or bequest, receive, lease or otherwise acquire, and own,
hold, improve, use and otherwise deal with, real or personal property or any
interest in property, wherever located.
(5) Sell, convey,
mortgage, pledge, lease, exchange, transfer and otherwise dispose of all or any
part of its property.
(6) Purchase,
receive, subscribe for or otherwise acquire, own, hold, vote, use, sell,
mortgage, lend, pledge or otherwise dispose of and deal in or with shares or
other interests in or obligations of any other entity.
(7) Make
contracts and guarantees, incur liabilities, borrow money, issue notes, bonds
and other obligations, and secure any of its obligations by mortgage or pledge
of any of its property, franchises or income.
(8) Lend money,
invest and reinvest its funds, and receive and hold real and personal property
as security for repayment, except as limited by ORS 65.364.
(9) Be a
promoter, partner, member, associate or manager of any partnership, joint
venture, trust or other entity.
(10) Conduct its
activities, locate offices and exercise the powers granted by this chapter
within or without this state.
(11) Elect or
appoint directors, officers, employees, and agents of the corporation, define
their duties and fix their compensation, if any.
(12) Pay pensions
and establish pension plans, pension trusts and other benefit and incentive
plans for any or all of its current or former directors, officers, employees
and agents.
(13) Unless
otherwise provided in the articles of incorporation, make donations not
inconsistent with law for the public welfare or for charitable, benevolent,
religious, scientific or educational purposes and for other purposes that
further the corporate interest.
(14) Impose dues,
assessments, admission and transfer fees upon its members.
(15) Establish
conditions for admission of members, admit members and issue memberships.
(16) Carry on a
business.
(17) Do any other
act, not inconsistent with law, that furthers the activities and affairs of the
corporation.
(18) Dissolve,
merge or reorganize as provided in this chapter. [1989 c.1010 §29]