Oregon Statutes - Chapter 60 - Private Corporations - Section 60.047 - Articles of incorporation.
(1) The articles of incorporation shall set forth:
(a) A corporate name for the corporation that satisfies the requirements of ORS 60.094;
(b) The number of shares the corporation is authorized to issue;
(c) The address, including street and number, and mailing address, if different, of the corporationís initial registered office and the name of its initial registered agent at that office;
(d) The name and address of each incorporator; and
(e) A mailing address to which notices, as required by this chapter, may be mailed until an address has been designated by the corporation in its annual report.
(2) The articles of incorporation may set forth:
(a) The names of the initial directors;
(b) The addresses of the initial directors;
(c) Provisions regarding:
(A) The purpose or purposes for which the corporation is organized;
(B) Managing the business and regulating the affairs of the corporation;
(C) Defining, limiting and regulating the powers of the corporation, its board of directors and shareholders; and
(D) A par value for authorized shares or classes of shares;
(d) A provision eliminating or limiting the personal liability of a director to the corporation or its shareholders for monetary damages for conduct as a director, provided that no such provision shall eliminate or limit the liability of a director for any act or omission occurring prior to the date when such provision becomes effective and such provision shall not eliminate or limit the liability of a director for:
(A) Any breach of the directorís duty of loyalty to the corporation or its shareholders;
(B) Acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law;
(C) Any unlawful distribution under ORS 60.367; or
(D) Any transaction from which the director derived an improper personal benefit;
(e) A provision authorizing or directing the corporation to conduct the business of the corporation in a manner that is environmentally and socially responsible; and
(f) Any provision that under this chapter is required or permitted to be set forth in the bylaws.
(3) The articles of incorporation need not set forth any of the corporate powers enumerated in this chapter. [1987 c.52 §16; 1989 c.1040 §7; 1991 c.883 §1; 2007 c.254 §1]Section: Previous 60.024 60.027 60.030 60.031 60.034 60.040 60.044 60.047 60.050 60.051 60.054 60.057 60.060 60.061 60.064 Next
Last modified: August 7, 2008