Any action required by this chapter to be taken at a meeting of the shareholders or directors of an institution or Oregon stock savings bank or any other action which may be taken at a meeting of the shareholders, directors or of a committee may be taken without a meeting if a consent in writing setting forth the action so taken is signed by all of the shareholders or directors or all of the members of the committee entitled to vote with respect to the subject matter thereof. The consent shall be delivered to the institution or Oregon stock savings bank for inclusion in the minutes or for filing with the corporate records. The action shall be effective on the date on which the last signature is placed on the consent or consents or at such earlier time as is set forth therein. Such consent or consents shall have the same force and effect as a unanimous vote of such shareholders, directors or committee members and may be stated as such in any articles or document filed under this chapter. If not otherwise determined in accordance with ORS 707.615, the record date for determining shareholders entitled to take action by consent without a meeting is the date the first shareholder signs the consent. [1989 c.324 §52; 1997 c.631 §80]
Section: Previous 707.415 707.420 707.430 707.440 707.450 707.610 707.611 707.612 707.613 707.615 707.617 707.619 707.620 707.621 707.623 NextLast modified: August 7, 2008