128.580
Business trusts subject to certain corporate laws. Any business trust shall be
subject to such provisions of law, now or hereafter enacted, with respect to
domestic and foreign corporations, respectively, as relate to the issuance of
securities, filing of required statements or reports, service of process,
general grants of power to act, right to sue and be sued, limitation of
individual liability of shareholders and rights to acquire, mortgage, sell,
lease, operate and otherwise to deal in real and personal property. Except as
otherwise provided in its trust agreement or declaration of trust, or any
amendments thereto, any business trust shall also be subject to the other
provisions of ORS chapter 60 and other rights and duties existing under the
common law and statutes of this state applicable to domestic and foreign
corporations. Title to any real or personal property may be held in the name of
the trust, one or more of the trustees or any other person as nominee. [1971
c.491 §5; 1973 c.367 §13; 1979 c.208 §6; 1987 c.94 §99]
Notes of Decisions
Marguerite E. Wright Trust v. Dept. of Rev., 685 P.2d 418 (Or. 1984).
· cites it 8× “580, which reads in pertinent part: " Any business trust shall be subject to such provisions of law, now or hereafter enacted, with respect to domestic and foreign corporations, respectively, as relate to the issuance of securities, filing of required statements of reports,…”
Pac. Realty Trust v. APC Investments, Inc., 651 P.2d 163 (Or. Ct. App. 1982).
“ORS 128.580. ORS 57.141 states, in part: “The bylaws may contain any provision for the regulation and management of the affairs of the corporation not inconsistent with law or the articles of incorporation.”
Allied Structural v. CCB, 492 P.3d 642 (Or. Ct. App. 2021).
· cites it 4× “” Under ORS 128.580, “[e]xcept as otherwise provided in its trust agreement or declaration of trust, or any amendments thereto, any busi- ness trust shall also be subject to the other provisions of ORS chapter 60 and other rights and duties existing under the common law and…”
Hausam v. Ticor Title Ins., 783 P.2d 39 (Or. Ct. App. 1989).
“85, filing of the trust instrument by the Secretary of State shall be conclusive evidence that all conditions precedent required to be performed by the business trust have been complied with and that the business trust is authorized to do business in this state, except as *536…”
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