(1) If the Secretary of State determines that one or more grounds exist under ORS 60.647, for dissolving a corporation, the Secretary of State shall give the corporation written notice of the determination.
(2) If the corporation does not correct each ground for dissolution or demonstrate to the reasonable satisfaction of the Secretary of State, within 45 days after notice is given, that each ground determined by the Secretary of State does not exist, the Secretary of State shall dissolve the corporation.
(3) A corporation administratively dissolved continues its corporate existence but may not carry on any business except that necessary to wind up and liquidate its business and affairs under ORS 60.637, and notify claimants under ORS 60.641 and 60.644.
(4) The administrative dissolution of a corporation does not terminate the authority of its registered agent. [1987 c.52 §147; 1987 c.579 §6; 1993 c.190 §2]
Section: Previous 60.631 60.634 60.637 60.641 60.644 60.645 60.647 60.651 60.654 60.657 60.661 60.664 60.667 60.671 60.674 NextLast modified: August 7, 2008