Section 568.491 - Termination of board of directors; appointment of board of trustees; notice of dissolution; certificate of dissolution.

OR Rev Stat § 568.491 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

(2) The board of trustees shall consult with the department for the purpose of implementing the plan of dissolution and liquidation and carrying out the following:

(a) Payment of debts, or securing the release of debts, and disposing of district property.

(b) Settling all books and other records of the district and delivering the records to the department.

(c) Executing under oath, and filing with the department, a statement that the district has been dissolved and liquidated.

(d) Transferring conservation easements and other contracts that are to remain in effect.

(3) Upon receiving the statement of dissolution and liquidation from the trustees, the department shall give notice of the dissolution and of the termination of the corporate existence of the district for all purposes to:

(a) The Secretary of State;

(b) Affected county governments;

(c) The Department of Revenue;

(d) Known holders of valid indebtedness of the district; and

(e) Other agencies or entities as the State Department of Agriculture deems appropriate.

(4) Upon receiving notice from the State Department of Agriculture of district dissolution and termination of corporate status, the Secretary of State shall issue and record a certificate of dissolution for the district. [2009 c.220 §19]