The Secretary of State may commence a proceeding to inactivate the trust instrument of a business trust if:
(1) The business trust does not pay when due any fees imposed by ORS 128.560 to 128.600;
(2) The business trust does not deliver its annual report to the Secretary of State when due;
(3) The business trust is without a registered agent or registered office in this state;
(4) The business trust does not notify the Secretary of State that its registered agent or registered office has been changed, that its registered agent has resigned or that its registered office has been discontinued; or
(5) The business trust’s period of duration stated in the trust instrument expires. [1995 c.215 §27]
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