ORS 65.263: Defective corporate action; ratification or validation; effective date.

(1) A defective corporate action is not void or voidable if the corporation ratifies the defective corporate action in accordance with ORS 65.266 or validates the defective corporate action in accordance with ORS 65.278.

      (2) Ratification under ORS 65.266 or validation under ORS 65.278 is not the exclusive means of ratifying or validating a defective corporate action. An absence or failure to ratify or validate a corporate action in accordance with ORS 65.260 to 65.281 does not:

      (a) Affect the validity or effectiveness of a corporate action that is properly ratified under common law or otherwise; or

      (b) Create a presumption that the corporate action is or was a defective corporate action or is or was void or voidable.