Oregon Statutes - Chapter 711 - Merger; Conversion; Share Exchange; Acquisition; Liquidation; Insolvency - Section 711.085 - Approval of conversion of Oregon bank by board or shareholders.

If an Oregon bank converts pursuant to ORS 711.065 to 711.080, the conversion shall be approved by:

(1) A majority of the full board of directors of the converting Oregon bank, unless the articles or bylaws of the converting Oregon bank required a greater percentage; and

(2) If the converting bank is an Oregon stock bank, a vote of a majority of the outstanding stock of each class of voting shares at a meeting called to consider the conversion, unless the articles or bylaws of the converting Oregon bank required a greater percentage. [1997 c.631 §269]

Section:  Previous  711.050  711.055  711.060  711.065  711.070  711.075  711.080  711.085  711.090  711.095  711.100  711.104  711.105  711.110  711.112  Next

Last modified: August 7, 2008