Oregon Statutes 60.467 – Bylaw increasing quorum or voting requirement for directors
Current as of: 2023 | Check for updates
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(1) A bylaw provision that fixes a greater quorum or voting requirement for the board of directors may be amended or repealed:
Terms Used In Oregon Statutes 60.467
- Quorum: The number of legislators that must be present to do business.
- Share: means a unit into which the proprietary interest in a corporation is divided. See Oregon Statutes 60.001
(a) If the provision was originally adopted by the shareholders, only by the shareholders; or
(b) If the provision was originally adopted by the board of directors, either by the shareholders or by the board of directors.
(2) A bylaw provision adopted or amended by the shareholders that fixes a greater quorum or voting requirement for the board of directors may provide that it may be amended or repealed only by a specified vote of either the shareholders or the board of directors. [1987 c.52 § 114; 1989 c.1040 § 26]
CONVERSION, MERGER AND SHARE EXCHANGE