Oregon Statutes 60.807 – Voting rights of control shares
(1) Control shares acquired in a control share acquisition have no voting rights other than those provided for in subsection (2)(a) of this section, unless the restoration of the voting rights associated with the shares before the control share acquisition is approved by the shareholders of the issuing public corporation.
Terms Used In Oregon Statutes 60.807
- 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.
- Share: means a unit into which the proprietary interest in a corporation is divided. See Oregon Statutes 60.001
(2) To be approved under this section, the restoration of voting rights for control shares must be approved by:
(a) The holders of the voting shares, including all interested shares, by a majority of all the votes entitled to be cast by holders of voting shares; and
(b) The holders of the voting shares, excluding all interested shares, by a majority of all the votes, other than votes of interested shares, entitled to be cast by holders of voting shares. [1989 c.4 § 3]
See note under 60.801.