Approval of conversion of Oregon bank by board or shareholders. If an Oregon bank converts pursuant to ORS 711.065 to 711.080, the conversion must be approved by

(1) A simple majority of the full board of directors of the converting Oregon bank, unless the articles or bylaws of the converting Oregon bank required a greater percentage; and

(2) If the converting bank is an Oregon stock bank, a vote of a simple majority of the outstanding stock of each class of voting shares at a meeting called to consider the conversion, unless the articles or bylaws of the converting Oregon bank required a greater percentage. [1997 c.631 §269; 2015 c.244 §81]