Oregon Statutes 554.080 – Corporate existence; powers of corporation
When the articles of incorporation are filed by the Secretary of State, the corporation is deemed to be established and has the power:
Terms Used In Oregon Statutes 554.080
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Personal property: All property that is not real property.
(1) To sue and be sued.
(2) To contract and be contracted with.
(3) To have, use and alter a corporate seal.
(4) To purchase, condemn by the power of eminent domain, possess and dispose of real and personal property as necessary and convenient to carry out the purposes of the corporation, and to take, hold, possess and dispose of all real and personal property donated to the corporation to carry out the purposes of the corporation.
(5) To appoint subordinate officers, employees and agents as the corporation requires, and prescribe their duties and compensation.
(6) To make, establish or amend bylaws, rules and regulations, not inconsistent with the laws of the state, the articles of incorporation, or the covenants and provisions of the landowners’ notice provided in ORS § 554.170 to 554.190, if any is filed, prescribing the manner and mode of conducting the business of the corporation, distributing and using water in domestic use, irrigating land, using any drainage or flood control works, collecting and treating sewage and enforcing the collection of rates, tolls, charges, fees, fines and assessments. Bylaws, rules and regulations must be ratified by two-thirds of the votes of the members of the corporation.
(7) To prescribe, fix, make and charge and collect from the water users or those who receive the benefits of the corporation, rates, tolls, fees, fines and charges for maintenance and operation of the corporation, use of water or for the works of the corporation, or for violation of any of the bylaws, rules and regulations of the corporation. The rates, tolls, fines, fees and charges shall be a lien on the crops produced as prescribed in ORS § 545.275, and may be a lien upon the land to which the water was furnished, or benefit was provided, as prescribed in ORS § 554.135.
(8) To make, levy and collect assessments either ratably or in proportion to the benefits received as provided by the bylaws or recorded landowners’ notice, upon the lands described in the articles of incorporation to fund the corporation for any purpose, including maintenance and operation, estimated delinquencies on assessments, principal and interest of maturing indebtedness, and reserve necessary or provided by the bylaws, subject to the limitations, restrictions and provisions of the recorded landowners’ notice. [Amended by 1987 c.94 § 148; 1991 c.459 § 432d; 2013 c.284 § 2]