Oregon Revised Statutes Corporations and Partnerships § 65.227
Current as of January 01, 2018 | Updated by FindLaw Staff
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(1) Unless the articles or bylaws provide otherwise, each member is entitled to one vote on each matter on which the members vote, including each matter on which a member may vote under this chapter or the articles or bylaws. Except as expressly prohibited in this chapter, the articles or bylaws may provide for different allocations of votes among member classes or exclude the members or some or all member classes from voting on any issue on which they would otherwise be entitled to vote under this chapter. A person that does not retain a right to vote on more than one occasion to elect a director or directors is not a member.
(2) Unless the articles or bylaws provide otherwise, if a membership stands of record in the names of two or more persons, with respect to voting the persons' acts have the following effect:
(a) If only one person votes, the person's act binds all; and
(b) If more than one person votes, the vote is divided on a pro rata basis.
(3) If a class is entitled to vote as a class for directors, a determination of the voting power of the class must be based on the percentage of the number of directors the class may elect out of the total number of authorized directors.
Cite this article: FindLaw.com - Oregon Revised Statutes Corporations and Partnerships § 65.227 - last updated January 01, 2018 | https://codes.findlaw.com/or/title-7-corporations-and-partnerships/or-rev-st-sect-65-227.html
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