Oregon Statutes 60.251 – Voting for directors
(1) Unless otherwise provided in the articles of incorporation, directors are elected by a plurality of the votes cast by the shares entitled to vote in the election at a meeting at which a quorum is present.
Terms Used In Oregon Statutes 60.251
- Articles of incorporation: means the articles described in ORS § 60. See Oregon Statutes 60.001
- Quorum: The number of legislators that must be present to do business.
- Voting group: means all shares of one or more classes or series that under the articles of incorporation or this chapter are entitled to vote and be counted together collectively on a matter at a meeting of shareholders. See Oregon Statutes 60.001
(2) Shareholders do not have a right to cumulate their votes for directors unless the articles of incorporation so provide.
(3) A statement included in the articles of incorporation that ‘all shareholders are entitled to cumulate their votes for directors,’ ‘a designated voting group of shareholders are entitled to cumulate their votes for director’ or words of similar import means that the shareholders designated are entitled to multiply the number of votes they are entitled to cast by the number of directors for whom they are entitled to vote and cast the product for a single candidate or distribute the product among two or more candidates. [1987 c.52 § 64; 1993 c.403 § 3]
(Voting Trusts and Agreements)