Oregon Corporate Resolution
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How to fill out Corporate Resolution?
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FAQ
6 Steps to Dissolve a Corporation #1 ? Seek Approval from the Board of Directors and Shareholders. First, hold a meeting with the board of directors. ... #2 ? File Articles of Dissolution. ... #3 ? Finalize Taxes. ... #4 ? Notify Creditors. ... #5 ? Liquidate and Distribute Assets. ... #6 ? Wrap Up Operations.
To start a corporation in Oregon, you'll need to do three things: appoint a registered agent, choose a name for your business, and file Articles of Incorporation with the Corporation Division. You can file this document online or by mail. The articles cost $100 to file.
Corporate bylaws are legally required in Oregon. Rev. Stat. § 60.061, corporate bylaws shall be adopted by the incorporators or the corporation's board of directors. Bylaws are usually adopted by your corporation's directors at their first board meeting.
To dissolve your corporation in Oregon, you must provide the completed Articles of Dissolution ? Business/Professional form to the Oregon Secretary of State Corporation Division by mail, in person or by fax with a Fax Cover Sheet. Original signature is NOT required.
Once a business entity is administratively dissolved, it is prohibited by statute from engaging in any activities other than those necessary to liquidate its assets and wind up its affairs.
To dissolve your nonprofit, you will need a plan of dissolution. The plan must indicate who will receive your nonprofit's remaining assets after all creditors have been paid. If your nonprofit has voting members, the board first must approve the plan of dissolution and then submit it to the members.
A failure to do so can result in limited or no liability protection, which is often called "piercing the corporate veil."
If you're a sole proprietor or single-member LLC, all final funds will go to you. If you have multiple owners for your business, you'll need to distribute the remaining funds of the business to each member or stakeholder. For corporations, shareholders are paid based on their ownership percentages.
