Unless its articles of incorporation provide otherwise, every corporation has perpetual duration and succession in its corporate name and has the same powers as an individual to do all things necessary or convenient to carry out its affairs, including, without limitation, power to:
(1) Sue and be sued, complain and defend in its corporate name.
(2) Have a corporate seal, which may be altered at will, and to use it, or a facsimile of it, by impressing or affixing or reproducing it in any other manner.
(3) Make and amend bylaws not inconsistent with its articles of incorporation or with the laws of this state, for regulating and managing the affairs of the corporation.
(4) Purchase, take by gift, devise or bequest, receive, lease or otherwise acquire, and own, hold, improve, use and otherwise deal with, real or personal property or any interest in property, wherever located.
(5) Sell, convey, mortgage, pledge, lease, exchange, transfer and otherwise dispose of all or any part of its property.
(6) Purchase, receive, subscribe for or otherwise acquire, own, hold, vote, use, sell, mortgage, lend, pledge or otherwise dispose of and deal in or with shares or other interests in or obligations of any other entity.
(7) Make contracts and guarantees, incur liabilities, borrow money, issue notes, bonds and other obligations, and secure any of its obligations by mortgage or pledge of any of its property, franchises or income.
(8) Lend money, invest and reinvest its funds, and receive and hold real and personal property as security for repayment, except as limited by ORS 65.364.
(9) Be a promoter, partner, member, associate or manager of any partnership, joint venture, trust or other entity.
(10) Conduct its activities, locate offices and exercise the powers granted by this chapter within or without this state.
(11) Elect or appoint directors, officers, employees, and agents of the corporation, define their duties and fix their compensation, if any.
(12) Pay pensions and establish pension plans, pension trusts and other benefit and incentive plans for any or all of its current or former directors, officers, employees and agents.
(13) Unless otherwise provided in the articles of incorporation, make donations not inconsistent with law for the public welfare or for charitable, benevolent, religious, scientific or educational purposes and for other purposes that further the corporate interest.
(14) Impose dues, assessments, admission and transfer fees upon its members.
(15) Establish conditions for admission of members, admit members and issue memberships.
(16) Carry on a business.
(17) Do any other act, not inconsistent with law, that furthers the activities and affairs of the corporation.
(18) Dissolve, merge or reorganize as provided in this chapter. [1989 c.1010 §29]Section: Previous 65.051 65.054 65.057 65.061 65.064 65.067 65.074 65.077 65.081 65.084 65.094 65.097 65.101 65.111 65.114 Next
Last modified: August 7, 2008