Section 711.085 - Approval of conversion of Oregon bank by board or shareholdersIf an Oregon bank converts pursuant to ORS 711.065 to 711.080, the conversion must be approved by:
(1) A simple majority of the full board of directors of the converting Oregon bank, unless the articles or bylaws of the converting Oregon bank required a greater percentage; and(2) If the converting bank is an Oregon stock bank, a vote of a simple majority of the outstanding stock of each class of voting shares at a meeting called to consider the conversion, unless the articles or bylaws of the converting Oregon bank required a greater percentage.Amended by 2015 Ch. 244,§ 81, eff. 6/4/2015, op. 1/1/2016.