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2017 Oregon Revised Statutes
Volume : 02 - Business Organizations, Commercial Code
Chapter 060 - Private Corporations
Section 60.381 - Resignation and removal of officers.
Universal Citation: OR Rev Stat § 60.381 (2017)
(1) An officer may resign at any time by delivering notice to the corporation. A resignation is effective when the notice is effective under ORS 60.034 unless the notice specifies a later effective time. If a resignation is made effective at a later time and the corporation accepts the future effective time, the corporation’s board of directors or the appointing officer may fill the pending vacancy before the effective time if the board of directors or the appointing officer provides that the successor does not take office until the effective time.
(2) An officer may be removed at any time with or without cause by:
(a) The board of directors;
(b) The appointing officer, unless otherwise provided by the bylaws or the board of directors; or
(c) Any other officer if authorized by the bylaws or the board of directors.
(3) Once delivered, a notice of resignation is irrevocable unless the board of directors permits the revocation.
(4) As used in this section, "appointing officer" means the officer or any successor to the officer who appointed the officer that is resigning or being removed. [1987 c.52 §92; 1993 c.403 §6; 2003 c.80 §13; 2017 c.55 §13]
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