Oregon Statutes 58.196 – Limits on merger
(1) A domestic professional corporation may merge with one or more domestic professional corporations if the professional corporations are organized to render the same professional service or services.
Terms Used In Oregon Statutes 58.196
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- domestic professional corporation: means a corporation organized under this chapter for the specific purpose of rendering professional service or services and for such other purposes provided under this chapter. See Oregon Statutes 58.015
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Professional service: means personal service or services rendered in this state to the public which may be lawfully rendered only pursuant to a license by a professional. See Oregon Statutes 58.015
(2) Foreign professional corporations and domestic professional corporations that are organized to render the same professional service or services may merge unless the mergers are prohibited by the regulatory boards having jurisdiction of the professional corporations in their respective states of incorporation.
(3) A domestic professional corporation may merge with one or more domestic professional corporations which are organized to render different professional service or services only if the mergers are expressly authorized by the applicable regulatory boards.
(4) Foreign professional corporations and domestic professional corporations which are organized to render different professional service or services may merge only if the mergers are expressly authorized by the regulatory boards having jurisdiction of the corporations in their respective states of incorporation. [1993 c.235 § 33]
[Repealed by 1961 c.726 § 427]