Oregon Statutes 759.310 – When issuance of securities void
All stocks and bonds, notes or other evidences of indebtedness and any security of a telecommunications utility shall be void when issued:
Terms Used In Oregon Statutes 759.310
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
- Telecommunications: means the transmission of information chosen by a person, between or among points specified by the person, without change in the form or content of the information sent or received. See Oregon Statutes 759.005
(1) Without an order of the Public Utility Commission authorizing the same then in effect except as provided in ORS § 759.315 (3) or (5).
(2) With the authorization of the commission, but not conforming in its provisions to the provisions, if any, which it is required by the order of authorization of the commission to contain; but no failure to comply with the terms or conditions of the order of authorization of the commission and no informality or defect in the application or in the proceedings in connection therewith or with the issuance of such order shall render void any stock or bond, note or other evidence of indebtedness, or security issued pursuant to and in substantial conformity with an order of the commission, except as to a person taking the same otherwise than in good faith and for value and without actual notice. [1987 c.447 § 30; 1993 c.204 § 1]