Title 7, Corporations and Partnerships

(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…

(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…

(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…

(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…

ORS 62.765 to 62.792 shall be known and may be cited as the “Employee Cooperative Corporations Act.” [1987 c.677 §11] MANUFACTURED DWELLING PARK COOPERATIVES

(1) ORS 62.800 to 62.815 may be cited as the Manufactured Dwelling Park Nonprofit Cooperative Corporation Act. (2) The purpose of ORS 62.800 to 62.815 is to recognize the cooperative form of ownership by a nonprofit entity of an interest in real property consisting of a manufactu…

As used in ORS 62.800 to 62.815, unless the context requires otherwise: (1) “Lienholder” means the holder of a manufactured dwelling lien: (a) That is recorded in the deed records of the county in which the manufactured dwelling is located; (b) That is perfected with the Departme…

(1) A cooperative organized under this chapter may elect to become a manufactured dwelling park nonprofit cooperative by stating that election in the articles of incorporation. (2) A cooperative may not revoke an election made under subsection (1) of this section. A manufactured …

(1) A person may become a member of a manufactured dwelling park nonprofit cooperative if the person: (a) Is a natural person; (b) Owns a manufactured dwelling that is, or is to be, located in a manufactured dwelling park of the cooperative and occupied by the person; (c) Pays th…

A manufactured dwelling park nonprofit cooperative may record notices, restrictive covenants, leases, memoranda and other documents relating to the cooperative in the deed records of the county in which the manufactured dwelling park of the cooperative is located. [2009 c.609 §2]

(1) As used in this section, “debts, liabilities and obligations” includes, but is not limited to, the repurchase of each membership in the cooperative for the amount that was charged by the cooperative as a membership fee. (2) If a manufactured dwelling park nonprofit cooperativ…

(1) If a lienholder provides a manufactured dwelling park nonprofit cooperative with a written request for notification regarding a manufactured dwelling on which the lienholder has a lien, the cooperative shall provide the lienholder with written notice of a termination of occup…

(1) As used in this section, “business entity” has the meaning given that term in ORS 62.605. (2) A manufactured dwelling park nonprofit cooperative may not: (a) Issue stock in the cooperative. (b) Apportion, distribute or pay net proceeds or savings to members. (c) Make payments…

The Secretary of State has the power and authority reasonably necessary to enable the Secretary of State to administer this chapter efficiently and to perform the duties imposed upon the Secretary of State by this chapter. [1957 c.716 §65]

(1)(a) Except as provided in paragraph (b) of this subsection, a person other than a cooperative incorporated under this chapter or under a previous Act of this state or organized under the laws of another jurisdiction may not use the term “cooperative,” or any variation of the t…

The provisions of this chapter apply to the fullest extent permitted by the laws and Constitution of the United States and of the State of Oregon, to all existing cooperative associations incorporated under any previously existing Act of this state relating to incorporation of co…

The Oregon Cooperative Corporation Act may be amended, repealed or modified, but such amendment, repeal or modification shall not affect any vested rights or take away or impair any remedy for any liability which has been previously incurred. [1957 c.716 §74]

The repeal (by section 76, chapter 716, Oregon Laws 1957) of the sections compiled in the 1953 part for ORS chapter 62 does not affect any right accrued or established, or any liability or penalty incurred, under the provisions of those sections prior to their repeal. [1957 c.716…

An agricultural cooperative organized and operating under ORS chapter 62 must send a notice to all members of the cooperative annually. The cooperative shall send a member the notice in February or with the member’s contract. The notice shall state that members may not file an ag…

(1) A person commits the crime of signing a false document for filing if the person: (a) Knows the document is false in any material respect; and (b) Signs the document with an intent that the document be delivered to the office of the Secretary of State for filing under this cha…