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Oregon · Through 2025 Edition

ORS 60.766: Proceedings against benefit company; when allowed; who may commence.

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Where this section sits in the code
  1. 02 - Business Organizations, Commercial Code
  2. 7. Corporations and Partnerships
  3. Chapter 60 — Private Corporations

(1) Except as provided in subsection (2) of this section, a person may not commence a proceeding against a benefit company, or against the governors, members, officers or managers of a benefit company, to assert a claim that the benefit company, governors, members, officers or managers:

      (a) Failed to pursue, create or provide a general public benefit or a specific public benefit identified in the benefit company’s articles of incorporation or articles of organization; or

      (b) Violated a duty or a standard of conduct prescribed under ORS 60.750 to 60.770.

      (2) A person may commence a direct or derivative proceeding, as appropriate, to compel a benefit company to provide a general public benefit or a specific public benefit or to require a governor, member, officer or manager to act in accordance with a duty or a standard of conduct set forth in the benefit company’s articles of incorporation or articles of organization, or prescribed under ORS 60.750 to 60.770, only if the person is:

      (a) The benefit company;

      (b) A governor;

      (c) A shareholder or member; or

      (d) Another person identified in the benefit company’s bylaws, articles of incorporation or articles of organization as having a right to commence a proceeding under this section.

      (3) A benefit company is not liable for money damages as a consequence of failing to provide a general public benefit or a specific public benefit.

Collected 2026-09-03T23:50:10Z. Source file · JSON

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