Current through 2024 Regular Session legislation effective June 6, 2024
Section 62.815 - Prohibited actions(1) As used in this section, "business entity" has the meaning given that term in ORS 62.605.(2) A manufactured dwelling park nonprofit cooperative may not:(a) Issue stock in the cooperative.(b) Apportion, distribute or pay net proceeds or savings to members.(c) Make payments in redemption or refund of capital credits or retains to an heir of a member.(d) Merge with a business entity other than another manufactured dwelling park nonprofit cooperative.(e) Convert to another type of business entity. 2007 c. 607, § 7; 2009 c. 609, § 7