Oregon Code § 65.621·Enacted ·Last updated March 01, 2026
Statute Text
Dissolution by incorporators.
(1) A majority of the incorporators of a corporation that has no members and
that does not yet have initial directors may, subject to any approval required
by the corporations articles of incorporation or bylaws, dissolve the
corporation by delivering articles of dissolution to the Secretary of State for
filing.
(2) The
corporation shall give the incorporators notice equivalent to that specified in
ORS 65.344 (2), of any meeting at which dissolution will be considered. The
notice must also state that the purpose, or one of the purposes, of the meeting
is to consider dissolution of the corporation.
(3) The
incorporators in approving dissolution shall adopt a plan of dissolution
indicating to whom the assets owned or held by the corporation will be
distributed after all creditors have been paid. [1989 c.1010 §130; 2019 c.174 §88]
Plain English Explanation
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 65.621
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
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