(1) A corporation may revoke its dissolution within 120 days of its effective date.
(2) Revocation of dissolution must be authorized in the same manner as the dissolution was authorized unless that authorization of dissolution permits revocation by action of the board of directors alone. If the authorization of dissolution permits revocation by action of the board of directors alone, the board of directors may revoke the dissolution without action by the members or any other person.
(3) After the revocation of dissolution is authorized, the corporation may revoke the dissolution by delivering to the Office of Secretary of State for filing, articles of revocation of dissolution that set forth:
(a) The name of the corporation;
(b) The effective date of the dissolution that was revoked;
(c) The date that the revocation of dissolution was authorized;
(d) If the corporationís board of directors or incorporators revoked the dissolution, a statement to that effect;
(e) If the corporationís board of directors revoked a dissolution authorized by the members alone or in conjunction with another person or persons, a statement that revocation was permitted by action by the board of directors alone pursuant to that authorization; and
(f) If member or third-person action was required to revoke the dissolution, the information required by ORS 65.631 (1)(e) and (f).
(4) Unless a delayed effective date is specified, revocation of dissolution is effective when articles of revocation of dissolution are filed.
(5) When the revocation of dissolution is effective, it relates back to and takes effect as of the effective date of the dissolution and the corporation resumes carrying on its activities as if dissolution had never occurred. [1989 c.1010 §134]Section: Previous 65.534 65.551 65.554 65.621 65.624 65.627 65.631 65.634 65.637 65.641 65.644 65.647 65.651 65.654 65.657 Next
Last modified: August 7, 2008