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2017 Oregon Revised Statutes
Volume : 02 - Business Organizations, Commercial Code
Chapter 062 - Cooperatives
Section 62.815 - Prohibited actions.
Universal Citation: OR Rev Stat § 62.815 (2017)
(1) As used in this section, "business entity" has the meaning given that term in ORS 62.605.
(2) A manufactured dwelling park nonprofit cooperative may not:
(a) Issue stock in the cooperative.
(b) Apportion, distribute or pay net proceeds or savings to members.
(c) Make payments in redemption or refund of capital credits or retains to an heir of a member.
(d) Merge with a business entity other than another manufactured dwelling park nonprofit cooperative.
(e) Convert to another type of business entity. [2007 c.607 §7; 2009 c.609 §7]
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