(2) If the corporation does not correct each ground for dissolution or demonstrate to the reasonable satisfaction of the Secretary of State, within 45 days after notice is given, that each of the grounds that the Secretary of State has determined to be a ground for the dissolution does not exist, the Secretary of State shall dissolve the corporation.
(3) A corporation administratively dissolved continues the corporation’s corporate existence but may not carry on any activities except activities that are necessary or appropriate to wind up and liquidate the corporation’s business and affairs and notify claimants.
(4) The administrative dissolution of a corporation does not terminate the authority of the corporation’s registered agent.
(5) A corporation involuntarily dissolved under this section continues to exist as a body corporate for the purpose of performing or enforcing any debt or obligation under contract or agreement with the federal or state government, including the power to levy and collect assessments for performing or enforcing the debt or obligation. [1987 c.94 §153; 1991 c.132 §15; 1993 c.190 §23; 2013 c.159 §15]
Structure 2021 Oregon Revised Statutes
Volume : 15 - Water Resources, Agriculture and Food
Chapter 554 - Corporations for Irrigation, Drainage, Water Supply or Flood Control
Section 554.005 - Filing requirements.
Section 554.007 - Effective time and date of document.
Section 554.009 - Correcting filed document.
Section 554.011 - Penalty for signing false document.
Section 554.015 - Filing duty of Secretary of State.
Section 554.018 - Evidentiary effect of copy of filed document.
Section 554.019 - Certificate of existence.
Section 554.020 - Articles of incorporation; filing.
Section 554.040 - Contents of articles.
Section 554.060 - Challenge to validity of organization; effect of defects or omissions.
Section 554.070 - Membership; meetings; voting; proxies; voting trusts; quorum; removal of officers.
Section 554.080 - Corporate existence; powers of corporation.
Section 554.082 - Registered office and registered agent.
Section 554.084 - Change of registered office or registered agent.
Section 554.086 - Resignation of registered agent.
Section 554.088 - Service on corporation.
Section 554.110 - Powers of directors.
Section 554.135 - Alternative method for collecting assessments.
Section 554.140 - Directors’ duty to institute proceedings to enforce lien; attorney fees.
Section 554.180 - Landowners’ notice; contents.
Section 554.190 - Recording notice; effect; lien on land; priority.
Section 554.210 - Plans and specifications; how adopted.
Section 554.230 - Bonds; recitals; payment; liability of land.
Section 554.275 - Activity of corporation as urban service.
Section 554.302 - Dissolution of corporation by Secretary of State; conditions.
Section 554.307 - Reinstatement of dissolved corporation.
Section 554.309 - Denial of reinstatement; appeal.
Section 554.315 - Annual report; contents; filing with Secretary of State; amended report.
Section 554.340 - Judicial determination of legality of proceedings.
Section 554.350 - Service to lands outside district; findings; tax exemption.
Section 554.440 - Malheur Improvement Company; exclusion or inclusion of land.
Section 554.530 - Application; contents; deposit; filing.
Section 554.570 - Effect of exclusion on existing debts.
Section 554.580 - Condition of approval of inclusion.
Section 554.590 - Articles of amendment; filing; effective date.