Oregon Sample Letter regarding Revised Drafts of Articles of Incorporation, Organizational Minutes, and Bylaws
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FAQ
The Oregon Business Corporation Act includes laws and regulations for corporations doing business in the state of Oregon. By forming a corporation, the owner's personal assets aren't at risk for legal or financial issues relating to the business.
Corporate bylaws are a detailed set of rules adopted by a corporation's board of directors after the company has been incorporated. They are an important legal document for a corporation to have in place as they specify its internal management structure and how it will be run.
Most state laws require that corporations establish company bylaws. Bylaws ensure consistent and agreed-upon voting and decision-making procedures and are particularly important should an officer or director leave the company.
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.
A failure to do so can result in limited or no liability protection, which is often called "piercing the corporate veil."
