Oregon § 60.750 Definitions for ORS 60.750 to 60.770

Oregon Statutes

§ 60.750 — Definitions for ORS 60.750 to 60.770

Oregon § 60.750

Vol.2

Title 7Corporations and Partnerships

Ch. 60Private Corporations

This text of Oregon § 60.750 (Definitions for ORS 60.750 to 60.770) 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. § 60.750 (2026).

Text

As used in ORS 60.750 to 60.770:

(1)“Benefit company” means a corporation or a limited liability company that is incorporated, organized, formed or created under ORS 60.754.

(2)“Benefit governor” means an individual who is designated as the benefit governor of a benefit company under ORS 60.762.

(3)“General public benefit” means a material positive impact on society and the environment, taken as a whole, from the business and operations of a benefit company.

(4)“Governor” means a director of a corporation that is a benefit company, a member in a member-managed limited liability company that is a benefit company or a manager in a manager-managed limited liability company that is a benefit company.

(5)“Minimum status vote” means a decision that an entity makes in accordance with ORS 60.

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As used in ORS 60.750 to 60.770:
(1) “Benefit company” means a corporation or a limited liability company that is incorporated, organized, formed or created under ORS 60.754.
(2) “Benefit governor” means an individual who is designated as the benefit governor of a benefit company under ORS 60.762.
(3) “General public benefit” means a material positive impact on society and the environment, taken as a whole, from the business and operations of a benefit company.
(4) “Governor” means a director of a corporation that is a benefit company, a member in a member-managed limited liability company that is a benefit company or a manager in a manager-managed limited liability company that is a benefit company.
(5) “Minimum status vote” means a decision that an entity makes in accordance with ORS 60.756.
(6) “Third-party standard” means a recognized standard for defining, reporting and assessing an entity’s social and environmental performance that:
(a) Establishes criteria that apply to all of the interests described in ORS 60.760 (1)(b), (c), (d), (e) and (f);
(b) Is developed by an organization that is not under the control of the benefit company or any of the benefit company’s affiliates; and
(c) Has information publicly available concerning:
(A) The criteria the standard uses to measure an entity’s overall social and environmental performance and the relative weight the standard gives to each criterion;
(B) The process by which the standard is developed and revised; and
(C) The organization that developed the standard that is sufficient in detail to disclose any relationships that might compromise the organization’s independence, including:
(i) The material owners and members of the organization’s governing body;
(ii) How the organization selects members of the organization’s governing body; and
(iii) The organization’s sources of financial support.