OR SB468 | 2021 | Regular Session
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on June 26 2021 - 100% progression
Action: 2021-06-26 - In committee upon adjournment.
Text: Latest bill text (Introduced) [PDF]
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on June 26 2021 - 100% progression
Action: 2021-06-26 - In committee upon adjournment.
Text: Latest bill text (Introduced) [PDF]
Summary
Prohibits director of agricultural cooperative, with respect to financial condition of agricultural cooperative, from intentionally or negligently concealing material information from member of agricultural cooperative, providing inaccurate or misleading material information to member of agricultural cooperative or otherwise acting to deceive member of agricultural cooperative. Prohibits director of agricultural cooperative, with respect to financial condition of agricultural cooperative, from intentionally or negligently concealing material information from member of agricultural cooperative, providing inaccurate or misleading material information to member of agricultural cooperative or otherwise acting to deceive member of agricultural cooperative. Creates duty for officer of agricultural cooperative to act in good faith and with due care and provides that officer does not act in good faith or with due care if officer, with respect to financial condition of agricultural cooperative, intentionally or negligently conceals material information from member of agricultural cooperative, provides inaccurate or misleading material information to member of agricultural cooperative or otherwise acts to deceive member of agricultural cooperative. Creates right of action for member of cooperative to seek damages or injunction for director's or officer's violation of respective duties. Takes effect on 91st day following adjournment sine die.
Title
Relating to a duty to represent the financial condition of an agricultural cooperative; prescribing an effective date.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2021-06-26 | Senate | In committee upon adjournment. |
| 2021-03-09 | Senate | Public Hearing held. |
| 2021-01-19 | Senate | Referred to Labor and Business. |
| 2021-01-11 | Senate | Introduction and first reading. Referred to President's desk. |
Oregon State Sources
| Type | Source |
|---|---|
| Summary | https://olis.oregonlegislature.gov/liz/2021R1/Measures/Overview/SB468 |
| Text | https://olis.oregonlegislature.gov/liz/2021R1/Downloads/MeasureDocument/SB468/Introduced |
