§ 128.599 — Reinstatement of business trust following inactivation

Oregon § 128.599

• Jurisdiction: Oregon
• Vol.: 3
• Title 13: Protective Proceedings; Powers of Attorney; Trusts
• Ch. 128: Trusts; Charitable Activities

Text

(1) A business trust that the Secretary of State inactivated under ORS 128.597 may apply to the Secretary of State for reinstatement within five years from the date of inactivation. The application must state:
(a) The name of the business trust and effective date of the business trust’s administrative inactivation; and
(b) That the ground or grounds for inactivation either did not exist or have been eliminated.
(2) If the Secretary of State determines that the application contains the information required by subsection (1) of this section, that the information is correct and that the business trust’s name satisfies the requirements of ORS 60.094, the Secretary of State shall reinstate the business trust.
(3) When effective, the reinstatement relates back to and takes effect as of the effective date of the administrative inactivation and the business trust is considered to resume carrying on the business trust’s business as if the administrative inactivation had never occurred.
(4) The Secretary of State may waive the requirement under subsection (1) of this section that the business trust apply for reinstatement within five years after the date of administrative inactivation if the business trust requests the waiver and provides evidence of the business trust’s continued existence as an active concern during the period of administrative inactivation.

Legislative History

1995 c.215 §28; 2011 c.147 §26