Form with which a corporation advises that it has resolved that some shareholders shall be required to give the corporation the opportunity to purchase shares before selling them to another.
Oregon Corporate Right of First Refusal refers to a legal provision that grants certain shareholders or corporations the priority to purchase a specific asset or investment opportunity before it can be sold to a third party. This right is commonly exercised in the context of corporate resolutions within Oregon. Corporate resolutions are decisions made by a corporation's board of directors or shareholders, typically through a formal vote during a meeting. These resolutions serve to authorize specific actions or establish corporate policies. Within Oregon, one type of corporate resolution involves the implementation or enforcement of the Corporate Right of First Refusal. The Corporate Right of First Refusal ensures that a designated shareholder or corporation has the opportunity to acquire certain assets or investment opportunities before they are offered to others. This right can apply to various scenarios, including the sale of assets, the issuance of new shares, or the transfer of ownership interests in the company. In Oregon, there are several types of corporate resolutions related to the Corporate Right of First Refusal. These may include: 1. Asset Sale Right of First Refusal: This resolution grants a designated shareholder or corporation the first opportunity to purchase a particular asset, such as real estate, equipment, or intellectual property, before it can be sold to an outside party. The terms and conditions of the right of first refusal, including the purchase price and timeline, are typically outlined in the resolution. 2. Stock Issuance Right of First Refusal: This resolution gives a designated shareholder or corporation the priority to purchase additional shares of stock in the company before they are offered to other existing shareholders or third parties. The right of first refusal can help maintain control over the company's ownership structure and prevent dilution of existing shareholders' interests. 3. Ownership Transfer Right of First Refusal: This resolution ensures that when a shareholder wishes to transfer their ownership interest in the company, they must first offer the shares to a designated shareholder or the corporation itself. This provision allows for better control over the ownership transition and safeguards against unwanted third-party ownership. In summary, the Oregon Corporate Right of First Refusal — Corporate Resolutions provide specific guidelines for granting certain shareholders or corporations the priority to purchase assets, new shares, or ownership interests before they can be sold to others. These resolutions aim to protect the interests of existing shareholders and the corporation as a whole. The various types of resolutions may address asset sales, stock issuance, and ownership transfers, providing a comprehensive framework for implementing and enforcing the Corporate Right of First Refusal in Oregon-based corporations.
