(1) The board of directors shall elect an executive officer, whom the directors may designate as chairperson of the board or president, a vice chairperson of the board or one or more vice presidents, a treasurer and a secretary. The treasurer and the secretary may be the same individual. The persons that the board of directors elects are the executive officers of the corporation. (2) The terms of the officers are one year, unless the bylaws prescribe a different term. Officers may continue to serve until the successors of the officers are chosen and have duly qualified. (3) The bylaws must prescribe the duties of the officers.
‹ Prev All Oregon sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.