Oregon § 319.125 Change of ownership; cancellation of license

Oregon Statutes

§ 319.125 — Change of ownership; cancellation of license

Oregon § 319.125

Vol.8

Title 29Revenue and Taxation

Ch. 319Motor Vehicle and Aircraft Fuel Taxes

This text of Oregon § 319.125 (Change of ownership; cancellation of license) is published on Counsel Stack Legal Research, covering Oregon primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Or. Rev. Stat. § 319.125 (2026).

Text

A licensed dealer who has a change of ownership shall notify the Department of Transportation immediately of the change. Upon notification, the department shall immediately cancel the motor vehicle fuel dealer license of the dealer. No license may be issued to any successor of the dealer until the successor completes an application and certificate and supplies the department with an adequate bond. For purposes of this section:

(1)In the case of a corporation with more than 100 stockholders, transfer of stock in normal trading is not considered a change in ownership.

(2)In the case of a corporation with 100 or fewer stockholders, transfer of less than 50 percent of the stock in any period of 12 consecutive months is not considered a change in ownership.

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A licensed dealer who has a change of ownership shall notify the Department of Transportation immediately of the change. Upon notification, the department shall immediately cancel the motor vehicle fuel dealer license of the dealer. No license may be issued to any successor of the dealer until the successor completes an application and certificate and supplies the department with an adequate bond. For purposes of this section:
(1) In the case of a corporation with more than 100 stockholders, transfer of stock in normal trading is not considered a change in ownership.
(2) In the case of a corporation with 100 or fewer stockholders, transfer of less than 50 percent of the stock in any period of 12 consecutive months is not considered a change in ownership.