Oregon § 65.531 Sale of assets in regular course of activities; mortgage of assets

Oregon Statutes

§ 65.531 — Sale of assets in regular course of activities; mortgage of assets

Oregon § 65.531

Vol.2

Title 7Corporations and Partnerships

Ch. 65Nonprofit Corporations

This text of Oregon § 65.531 (Sale of assets in regular course of activities; mortgage of assets) 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. § 65.531 (2026).

Text

(1)A corporation may, on the terms and conditions and for the consideration determined by the board of directors:

(a)Sell, lease, exchange or otherwise dispose of all or substantially all of its property in the usual and regular course of its activities; or

(b)Mortgage, pledge, dedicate to the repayment of indebtedness, whether with or without recourse, or otherwise encumber any or all of its property whether or not in the usual and regular course of its activities.

(2)Unless required by the articles of incorporation, approval by the members or any other person of a transaction described in subsection (1) of this section is not required.

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(1) A corporation may, on the terms and conditions and for the consideration determined by the board of directors:
(a) Sell, lease, exchange or otherwise dispose of all or substantially all of its property in the usual and regular course of its activities; or
(b) Mortgage, pledge, dedicate to the repayment of indebtedness, whether with or without recourse, or otherwise encumber any or all of its property whether or not in the usual and regular course of its activities.
(2) Unless required by the articles of incorporation, approval by the members or any other person of a transaction described in subsection (1) of this section is not required.