Oregon Senate Bill 524 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Unknown
Status: Failed on July 7 2017 - 100% progression
Action: 2017-07-07 - In committee upon adjournment.
Text: Latest bill text (Introduced) [PDF]

Provides that board member, officer, employee or agent of cooperative is personally liable to member of cooperative if board member, officer, employee or agent materially misrepresents financial condition of cooperative to induce member to enter into contract. Provides that contract is void if board member, officer, employee or agent of cooperative misrepresents financial condition of cooperative or misrepresents term or condition of contract to induce member of cooperative to enter into contract. Places burden on cooperative that seeks to enforce contract that member alleges should be void to show by preponderance of evidence that board member, officer, employee or agent of cooperative did not make material misrepresentation to induce member to enter into contract.

Relating to contracts that members enter into with cooperatives.

No sponsor information available at this time.

Date	Chamber	Action
2017-07-07	Senate	In committee upon adjournment.
2017-01-17	Senate	Referred to Judiciary.
2017-01-09	Senate	Introduction and first reading. Referred to President's desk.

Type	Source
Summary	https://olis.oregonlegislature.gov/liz/2017R1/Measures/Overview/SB524
Text	https://olis.oregonlegislature.gov/liz/2017R1/Downloads/MeasureDocument/SB524/Introduced