2017 Oregon Revised Statutes
Volume : 02 - Business Organizations, Commercial Code
Chapter 065 - Nonprofit Corporations
Section 65.811 - Disapproval of proposed transfer of assets.
The Attorney General shall approve any proposed transaction subject to ORS 65.803 unless the Attorney General finds any of the following:
(1) The terms and conditions of the proposed transaction are not fair and reasonable to the public benefit or religious corporation.
(2) The proposed transaction will result in inurement to any private person or entity.
(3) The proposed transaction is not at fair market value.
(4) The proposed use of the proceeds from the transaction is inconsistent with any charitable trust to which the assets are subject.
(5) The proposed transaction involves or constitutes a breach of trust.
(6) The Attorney General has not been provided sufficient information to evaluate adequately the proposed transaction and the effects of the proposed transaction on the public.
(7) The proposed transaction significantly diminishes the availability or accessibility of health care services to the affected community.
(8) The proposed transaction is not in the public interest.
(9) The proposed transaction does not comply with all other legal requirements. [1997 c.291 §7]
