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9 chapters · 973 sections in this title.
ORS 62.780 Apportionment of net earnings or losses
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(1)(a) The net earnings or losses of an employee cooperative shall be apportioned and distributed at such times and in such manner as the articles of incorporation or bylaws shall specify. Net earnings declared as patronage allocations with respect to a period of time, and paid o…
ORS 62.783 Internal capital accounts; redemption of shares; collective reserve account
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(1)(a) Any employee cooperative may establish through its articles of incorporation or bylaws a system of internal capital accounts, to reflect the book value and to determine the redemption price of membership shares, capital shares and written notices of allocation. (b) As used…
ORS 62.786 Internal capital account cooperative
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(1) An internal capital account cooperative is an employee cooperative whose entire net book value is reflected in internal capital accounts, one for each member, and a collective reserve account, and in which no persons other than members own capital shares. In an internal capit…
ORS 62.789 Procedure for revocation of election; limits on merger
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(1) When any employee cooperative revokes its election in accordance with ORS 62.771, the amendment to the articles of incorporation shall provide for conversion of membership shares and internal capital accounts or their conversion to securities or other property in a manner con…