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Current as of January 01, 2023 | Updated by Findlaw Staff
If an Oregon bank converts pursuant to ORS 711.065 to 711.080, the conversion must be approved by:
(1) A simple majority of the full board of directors of the converting Oregon bank, unless the articles or bylaws of the converting Oregon bank required a greater percentage; and
(2) If the converting bank is an Oregon stock bank, a vote of a simple majority of the outstanding stock of each class of voting shares at a meeting called to consider the conversion, unless the articles or bylaws of the converting Oregon bank required a greater percentage.
Cite this article: FindLaw.com - Oregon Revised Statutes Financial Institutions § 711.085 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-53-financial-institutions/or-rev-st-sect-711-085/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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