Oregon Revised Statutes Corporations and Partnerships § 62.607

(1)(a) A business entity may be converted to a cooperative organized under this chapter.

(b) A cooperative organized under this chapter may be converted to another business entity organized under the laws of this state if the statutes that govern the other business entity permit the conversion.

(c) A business entity may perform a conversion described in paragraph (a) or (b) of this subsection by approving a plan of conversion and filing articles of conversion.

(a) The laws of the other jurisdiction permit the conversion;

(b) The converting cooperative approves a plan of conversion;

(c) Articles of conversion are filed in this state;

(e) The cooperative complies with all requirements that the laws of the other jurisdiction impose with respect to the conversion.

(a) The name and type of the business entity prior to conversion;

(b) The name and type of the business entity after conversion;

(c) A summary of the material terms and conditions of the conversion;

(d) The manner and basis of converting the ownership interests of each owner into ownership interests or obligations of the surviving business entity or any other business entity, or into cash or other property in whole or in part; and

(e) Any additional information that the statutes that govern converted business entities of the type into which the business entity converted require in the organizational document of the converted business entity.